Sisi supports investment efforts: Minister

CAIRO - 21 February 2018: Minister of Investment and International Cooperation Sahar Nasr on Wednesday said that improving the investment atmosphere in Egypt requires more cooperation by all State institutions and ministries concerned.

In statements during a ceremony at which President Abdel Fattah El Sisi inaugurated an investor services center in the Ministry premises, she added that the move indicates that President Sisi is supporting efforts for enhancing investment in Egypt.

She added that the investment climate in Egypt before 2014 was suffering from so many problems as there was no clear leadership to outline a defined vision and an investment strategy.

Minister of Investment and International Cooperation Sahar Nasr added that after 2014, when President Sisi assumed power, things changed and Egypt had a clear vision and a national project.

She added that after 2014, Egypt started its economic reform program of which creating a propitious investment atmosphere was a major pillar.

Problems facing investors led to a decrease of investments and the national economy in general was moving backward, she added.

The government has undertaken a swift action for economic reform in an effort to improve the investment climate in Egypt, she said, adding that a strategy was outlined to attain this goal.

This strategy, she added, was based on modernizing investment laws, creating institutions that are capable to implement these laws and improving the infrastructure.

Minister of Investment and International Cooperation Sahar Nasr said that the new investment law offered several incentives to investors.

The new law is treating on equal footing men and women and Egyptian and foreign investors, she pointed out.

International indicators show that investors have an easy access to the Egyptian market, she said, noting that what is more important is that investors can go out of the market as easy as they entered it.

Legislative amendments and financial inclusion contributed to supporting the investment sector, she said, adding that the ministry has also managed to settle several investment problems and disputes.

This led to attracting much more investments, she boasted.