Egypt one of most investment-attractive countries in world

Egypt is one of the most investment-attractive countries in the world due to the economic reform program and the governmental measures, topped by floating the exchange rate, Chairman of the Federation of Egyptian Industries (FEI) Mohamed el Sewedy said, adding that these measures aim at achieving financial stability.

During a meeting with MENA staff under MENA Board Chairman and Editor-in-Chief Ali Hassan, Sewedy said that the economic reforms taken by the government contributed to increasing foreign investments and the total local growth rate.

These measures, also, contributed to increasing exports and decreasing imports so that subsidies reach only those who deserve them, said he.

He said that achieving comprehensive sustainable growth and providing job opportunities are among the priorities of the economic reform program.

Governmental efforts are being exerted to support the small and medium enterprises, which are important for growth and development, he added.

The decision of floating the Egyptian pound was very tough but it was the start of moving on the right track, Sewedy, who chairs Egypt Support Coalition, said.

Meanwhile, Sewedy said that the parliament is currently discussing several laws to support reforms and boost investments.

Commercial missions will be sent to a number of international markets to promote the industrial investment map launched recently by the Ministry of Trade and Industry to increase investments and review investment opportunities available in Egypt, he said.

Sewedy said that the parliament discusses a health insurance draft law that will be gradually applied in all governorates within 15 years.

As for terror, Sewedy asserted that exceptional trials should be held for the perpetrators of terrorist attacks.

Sewedy said that he is optimistic about the future of the Egyptian economy and the increase in the total local growth rates