Sharm El-Sheikh – Mubasher: U.S. Secretary of State John Kerry said on Friday Egypt needs sustainable growth, adding that economic growth in the Arab world’s most populous country requires transparency in reforms and laws.

These statements came during Kerry’s speech delivered at the inauguration ceremony of Egypt’s economic summit that kicked off Friday in the Red Sea resort of Sharm El-Sheikh.

Kerry also reiterated US President Obama’s commitment towards the stability and prosperity in Egypt.

He commended the legislative amendments and economic reform steps taken by the Egyptian government with the aim of bolstering the economy.

Several US companies see big investment opportunities in Egypt, according to Kerry.