Egypt seeks limited investments by Israelis in Egyptian industry, Egypt’s visiting Minister of Tourism told reporters here Monday. Dr. Fouad Sultan said Israelis would not be permitted to acquire total control of a company’s assets or obtain property in Sinai. “Egypt is concerned about the intentions behind such investments,” he said.
Israel completed return of the Sinai to Egypt in 1982 as part of the two nations’ peace agreement.
Sultan also visited Taba, the strip of Sinai beach whose ownership is disputed by Israel and Egypt. He said tourism contacts between the two nations would deepen once the dispute is resolved.
Ten Egyptian travel agents also are visiting Israel this week to explore the introduction of travel packages to both nations and increasing the number of Israeli tours to Egypt.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.