Prime Minister Dr. Ahmed Nazif said that Egypt is a country of institutions adding that President Hosni Mubarak is the first democratically elected president by the people and he is of a good health.

"Egypt has become an open market for investments", said Nazif, noting that encouraging investments is the right way to increase growth rates.

Addressing a Euromoney conference Wednesday 5/9/2007, Nazif said Egypt implemented during the past three years an ambititious development plan that aims at creating an investment-friendly atmosphere, so as to lure more foreign investments.

The premier highlighted the importance of the private sector role in realizing development plans in Egypt.

He noted that the government had issued several legislations and decisions to encourage international investments in Egypt.

Nazif said that he had many meetings with several international investors and found that their ambitions for business opportunities went in harmony with the government's plans.

The government does not ignore the social dimension while carrying out economic reforms, he said, noting that there was a comprehensive social agenda for improving people's living conditions.

The premier voiced hope that Egypt's Gross Domestic Product (GDP) would continue growing in order to cater for all people's needs.

6/9/2007