Allegations of pressure from parties to secure investments from the Egyptian government

Sameer Aref, vice president of the Egyptian Federation of Investor Associations, said some parties are trying to put pressure on the Egyptian government to get investments at the lowest possible cost and with the highest possible return.

Aref added in a TV interview with the Aher al-Nahar program that 8 years ago Egypt was preparing infrastructure in terms of roads and ports to receive investment, pointing out that the group that hinders the success of investments should be eliminated.

He explained: “We don’t want anything to stand in the way of investment, legislative or otherwise. We want to attract the largest amount of foreign investment for the benefit of the Egyptians.”

He continued: “The issue of bureaucracy and how to cooperate to stop this obstruction group is a guarantee of an improved investment climate; the price of the Egyptian pound is very promising.”

Source: Al-Masri Al-Youm.

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