Deputy speaker Mohamed Abou El-Enein said that the investment climate in Egypt has become attractive to foreign investments under the leadership of President Abdel-Fattah El-Sisi, who has ambitious prospects and a broad vision.
Abou El-Enein, who is also a member of the Board of Trustees of the Kemet Center for International Arbitration, said on Tuesday during the inauguration ceremony of the center that there are great challenges facing the Egyptian state in light of the fourth industrial revolution and the exchange of goods and services around the world during the pandemic.
He noted that Egypt has managed to overcome these these challenges through a set of laws that drive the investment wheel, including the freedom to entry and exit from the market, as well as new laws and specialized economic courts that rely on modern technology to quickly settle disputes, in addition to boosting the country’s competitive advantage.
He praised Ahmad Fathi Sorour, Chairman of the Center’s Board of Trustees of Kemet, due to his long lasting devotion and expertise in leadership, which will help him operate the center using the latest international methods.
He also saluted Mofeed Shehab, former Minister of Higher Education for attending the inauguration of this event. “I salute Mofeed Shehab for attending such majestic edifice, which is considered a historic event, where consultations and arbitration will be carried out in complete secrecy and credibility,” he said.
The deputy speaker also saluted the armed forces, and the police on the occasion of the June 30 revolution, describing it as a “revolution of stability”.
Abou El-Enein stressed that the goals of the Kemet Center will concentrate mainly on preparing generations of Egyptians and Arabs aware of the importance of arbitration and settling disputes.
The inauguration was attended by former Minister of Information Osama Heikal, former football Star Taher Abu Zaid, former Interior Minister Ahmed Zaki Badr, former Governor of Qalyubia Adly Hussein, and a large number of MPs and businessmen.
A number of senior businessmen and jurists inaugurated on Tuesday the Kemet Center for International Arbitration, headed by Sorour, and Abou El-Enein.
The center, which is the first of its kind, aims to speed up arbitration and settling disputes in accordance with Egyptian laws as well as those in force in Arab countries.On his part, Sorour said that the center will compete with international centers in terms of decisiveness and complete justice.
He added that the center will be attractive to investors due to its expertise, its provision of services, as well as its organization of training courses in order to prepare cadres to plead before local and international bodies.
Kemet is the ancient Egyptian name for the inhabitants of the Nile Valley, representing fertility and investment.
