Abou El-Enein: Egypt has achieved a leap in investment and economy in a few years
Mohammed Abou El-Enein during the meeting of the General People’s Offices of Chambers of Commerce:
– Prices of gas, electricity and land should be reviewed.
– The application of the advantages of the Special Economic Zone law in the provinces will cause a boom in investment.
– I call for a review of investment laws to attract huge investments.
– I call for establishing specialized industrial cities to reduce unemployment rates in the governorates to 0%.
– Egypt has achieved a miracle in investment and economy in a few years.
– Industrialization is the key to progress and development.
Mohamed Abou El Enein, head of the Investors Division of the General Union of Chambers of Commerce and Honorary President of the Parliamentary Assembly of the Mediterranean, stressed that the establishment of specialized industrial zones and the shifting to the productive specialization at the governorate level would reduce unemployment in the governorates to zero. He cited the example of the furniture city of Damietta, demanding the establishment of a specialized industrial city for petrochemicals, cars, food industries and other sectoral specialties.
He added, ” in a meeting of the General People’s Offices of the General Federation of Chambers of Commerce on Monday, that the industry suffered a great injustice led to the collapse of large institutions; although it is a growth engine, demanding to look at the industry to become a competitor in foreign and local markets through unconventional ideas.
Abou El-Enein called for spreading the philosophy of the special economic zones law to improve the investment climate in the Egyptian market as a whole, such as the Suez Canal Economic Zone Law, which enjoys many advantages.
He said that prices of energy, gas, electricity and land should be reviewed to know where we are from investment and global success and to fix what can be fixed, especially as Egypt has become on the global investment map.
He added that there is a difference between policies and legislation when building the state. Egypt must be advanced and the key is investment, manufacturing and production, pointing out that the investor is the gate of progress.
He pointed out that we have achieved a miracle within a few years, and international institutions witness this, pointing out that economic indicators confirm that the economic reforms that have been taken was successful.
He said that the presidency of Ibrahim Al-Arabi of the Federation of Chambers of Commerce is a gain for the Union, especially during the current period, which is a period of development.
He added that the success of the Egyptian investor at home is a message to the world and foreign investors that investment climate in Egypt.
Abou El-Enein explained that in the coming period, the investment climate in Egypt must be the best in the region, adding that we must think about putting forward the thought of productive climate, pointing to economic reforms have taken place but there are challenges currently being removed gradually.
