Positive effects of economic conference to emerge in last quarter of current fiscal year - minister

Friday 13-03-2015 01:52 PM
Positive effects of economic conference to emerge in last quarter of current fiscal year - minister

Egypt Investment Minister Ashraf Salman looks on during a news conference in Cairo October 30, 2014. Picture taken October 30, 2014. REUTERS/Mohamed Abd El Ghany

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CAIRO, Mar 13 (Aswat Masriya) - Positive effects of Egypt's economic conference will start showing during the last quarter of the current fiscal year 2014/15 which began in July, Investment Minister Ashraf Salman said on Friday.

The conference, which is held in the resort town of Sharm al-Sheikh on March 13-15, aims to attract global investors to invest in Egypt, to revive the national economy.

Over 80 countries, 25 heads of states, and 23 regional and international organisations are expected to attend the gathering.

Egypt will rise on the global investment map in the last quarter of the current fiscal year, Salman said in a televised interview on Egypt's state television, citing it as the "first objective".

The first and second quarters of the new fiscal year 2015/16 will witness the execution of some memorandums of understanding and projects that might be signed during the conference, Salman said.

Egypt has long been campaigning for the conference among regional and international trade allies. The state strongly believes heavy participation in the conference would help in the recovery of an economy battered by political turmoil during the past four years.

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