Egypt’s cabinet to devise plan to bring in new US investments

The government is working to devise a plan to attract new US investments from big players, according to a Cabinet statement. The plan will focus on offering new incentives and forging partnerships with US-based health, military production, housing, and utilities companies, as well as with investors in the Suez Canal Economic Zone (SCZone). Automotive, electronics, ICT, and pharma manufacturing will be the focus of the SCZone’s strategy to attract the US companies, Suez Canal Authority boss Mohab Mamish said. The Military Production Ministry is also currently in talks with a potential US-based automotive partner, as well as several others, Minister Mohamed El Assar said.