Egyptian economy is rebounding

The Egyptian economy started to rebound and the government will start soon to revise all legislation which regulate the economic activities in Egypt, said Trade and Industry Minister Mounir Fakhri Abdel-Nour. He further said that revising business-related laws aims at creating an investment-friendly climate. During a session of talks held Wednesday with World Bank's Country Director for Egypt, Yemen and Djibouti Hartwig Schafer, Abdel-Nour said that the government is studying and planning two mega national projects -the Suez Canal Corridor Project and the Golden Triangle Project, which will revive the Egyptian economy. Schafer, for his part, said that the World Bank is carrying out an industrial technical support project, at a total cost of six million dollars. The WB stands fully ready to implement new projects with the Egyptian government, he added.