Cairo – Mubasher: Deutsche Bank on Thursday said that Egypt is in a good position to attract more investments.

The remarks came during a meeting between Egypt’s minister of investment and international cooperation, Sahar Nasr, and a delegation from the bank.

The government’s economic reforms are encouraging, and there are German investment funds that are seeking to pump new investments into Egypt, the delegation said.

Nasr said that there are many investment opportunities in Egypt, noting that the new investment map will provide more than 600 investment opportunities.

The New Investment Law aims to ease procedures for investors, set a deadline for termination, and resolve disputes, in order to ensure stability in investment policies and transparency, Nasr added.

The trading volume between Germany and Egypt in 2016 increased 10% to EUR 5.56 billion ($5.89 billion), compared to 2015.

German investments in Egypt amounted to $619.2 million by January 2017, mainly in the chemicals, cars manufacturing, telecommunications, iron, and steel sectors, while Egypt’s investments in Germany amounted to $46.1 million in the banking, tourism, pharmaceutical, and consulting sectors.

Egypt aims to attract between $13 billion and $15 billion in investments during the current fiscal year, while the expected investments in the previous fiscal year stood at $10 billion.