Minister of Finance Dr. Youssef Boutros Ghali and Minister of Investment Dr. Mahmoud Mohie-Eddin are due to open 20/10/2008 the Euromoney Egypt Conference 2008.

Prime Minister Ahmad Nazif is expected to attend the closing session tomorrow. He will offer a detailed view of Egypt's economic and financial situation.

Richard Banks, the Middle East Regional Director of Euromoney Conferences said that choosing Egypt as a venue reflects the strength of its economy. It further encourages capital flow, noting that the effect of the global financial crisis on Egypt could be positive.

Banks highlighted the solid standing of Egypt's economy especially that it has achieved a 7 per cent rate of growth in recent years.

He added that Egypt is likely to develop as a rising economy, given its competitive edge and its strong economic infra-structure.

Banks said that Egypt has plenty of hard currency reserves. Its real estate market, he added, is not as oversized as that in either Europe or the US which makes it partially immune from the current financial meltdown.