Sawiris: investments in North Korea have nothing to do with politics

CAIRO – 15 September 2017: “My investments in North Korea are about $250 million, but these have nothing to do with politics and Egyptian business ties with North Korea are old,” Egyptian billionaire Naguib Sawiris told CNBC exclusively on Thursday.

Sawiris, founder of Orascom Telecom, has the only operating license in North Korea, CNBC noted.

He added that the war of words between North Korea and the United States could make them look "stupid," clarifying that wars are not won with rhetoric.

"If you threaten and you don't act, you really look stupid, so it's best not to," Sawiris said.

“I believe I've extended a good service to the innocent people of North Korea, who are deprived from seeing their parents who live miles away or can't call their children when they come back from school," he commented.

"They're allowed to have the simplest services that everybody in the west has. It has nothing to do with politics," he explained.

"As an investor, I abide by all U.N. resolutions making sure we're not violating any sanctions, any rules," Sawiris stressed.

“The Qatar blockade is not a diplomatic row; this is a position against terrorism,” Sawiris explained, adding, “I mean people do not spend more time to figure out who is really financing all what is happening.”

“When a country is hosting all the advocates of terror, when they are leaders of the Muslim Brotherhood or Hamas or other terror organizations, when they host illiterate clergymen who tell young people ‘listen, go and blow up this place, kill innocent people and this will land you in heaven’, then there is no more to talk about it as a diplomatic row; it is just a stand against terrorism that says enough is enough,” Sawiris said.