The General Federation of Investors announced its decision to hold a series of meetings with the recently appointed cabinet ministers to discuss urgent solutions regarding investment obstacles and issues faced by investors in Egypt.
“We’re still holding meetings, and we’re planning to continue meetings until next week or the one after to address issues investors face in Egypt,” Aboul Ela Abu El-Naga, member of the General Federation of Investors, said.
El-Naga said among the issues investors face is a lack of financial support for the industrial sector, difficulties in business expansion and smuggling of a large number of commodities.
“We have suffered enough since the revolution, and this is a critical time to hold meetings with [Prime Minister] El-Beblawi’s new government to know its economic vision, and how it plans to address economic issues,” El-Naga said, stressing the importance of investment to the economy.
The federation is set to meet the newly appointed ministers from the Ministry of Investment, Ministry of Industry and Foreign Trade, Ministry of Supply and Ministry of Housing, Utilities and Urban Development.
El-Naga said that they may also meet with other ministries, such as the Ministry of Education.
In a press release issued last Saturday, Minister of Finance Ahmed Galal said “attracting investments” is the interim government’s top economic priority at moment.
Galal stated that a clear vision has been put in place to address Egypt’s economic woes after meeting with a number of leaders from within the ministry, in which they assessed economic issues to be addressed during the transitional period.