Egypt is experiencing a crucial period that coincidences with several accomplishments in its march towards economic development, said Ali Eissa, chairperson of the Egyptian Businessmen Association (EBA).
“We are fully supporting the current government’s efforts to establish stability in the country. We are not politicians, we are businesspeople, but we can’t ignore the latest movements that threaten our ability to develop business and create job opportunities,” he added.
Eissa’s remarks came during his participation at the EBA’s conference, entitled “Future of Investment in Egypt … vision of the Business Community,” held on Monday in cooperation with the Alexandria Business Association (ABA) and the Egyptian Junior Business Association (EJBA).
The EBA supports the government’s efforts to achieve safety and security in Egypt, Eissa stressed, noting that the authorities implemented comprehensive reform programmes that international financial institutions are praising.
The EBA held a number of sectoral meetings to discuss investment challenges in the country and create solutions that can help the government in eliminating them, but this process requires a real governmental will.
The EJBA’s Chairperson Sherif El-Gably said Egypt faces various challenges that require the business community to work hand in hand with the government.
“We need to adopt a plan that gathers the business community and the government for common targets. The problem is that we all work separately as if we live on isolated islands,” El-Gably noted, adding that the private sector can be the key to investment promotion in Egypt.
“Solving the issues that investors are facing can be more useful than forming a governmental delegation for investment promotion abroad,” he asserted.
The government is achieving high economic growth, but sustainability of this growth rate is a major issue, El-Gably concluded.