Cairo-Mubasher: HC Securities has been assigned by the investment ministry the promotion of four projects during Egypt’s economic summit, said Chairman Hussein Shokry.

The Egypt Economic Development Conference (EEDC), under the theme of “Egypt the Future,” will take place from 13-15 March in the Red Sea resort of Sharm El Sheikh.

“We have finalized the study of the four investment projects that include a mega touristic development in Gashma coast over 8 million sqm area and with a cost of more than $3 billion,” said the top official.

He added that there are two projects in the petrochemical sector and the fourth one is for commercial transport.

HC operates in investment banking, asset management and securities trading in Egypt and the UAE.

“We will participate in the summit as an investment bank responsible for promoting offered projects,” said Shokry. He showed optimism about Egypt’s economy outlook and the role of the summit in fueling the country’s economic reform plan.

Egypt economy grew by 5.6% during the first half of the current fiscal year, thanks to strict reform procedures implemented by the government with the aim of improving the investment climate, as well as curb unemployment and price hikes.

The summit aims to lure $20 billion in investments and restore investor confidence in the economy which has been battered by nearly four years of unrest following the January 2011 revolt.