US companies are willing to invest in Egypt’s transportation sector through developing railways, Invest-Gate reports.

Minister of Investment and International Cooperation Sahar Nasr states such willingness to reporters after the signing of an agreement with the French Development Agency to develop a tram in Alexandria. Nasr also says that the US is planning to pump investments in the New Administrative Capital, according to a released statement.

“The new investment law seeks to boost labor-intensive projects and will provide various investment incentives,” says Minister of International Cooperation Sahar Nasr, as the first executive regulation of the law will be completed soon.