ICEC

Sawiris: Clear economic vision needed to revive Egypt investment climate

Egypt’s investment climate needs a clear economic vision set by the government, said Egyptian tycoon Samih Sawiris in an interview with Amwal Al Ghad Sunday.

The current investment climate in Egypt is the worst in the Middle East region amidst the lack of a clear economic vision by the state, Sawiris stated. The government needs to find solutions to the current economic challenges, notably the dollar shortage and bureaucracy so as to allure new investments to the country.

Floating the Egyptian pound is the optimal option to curb the black market, which negatively affect the national economy, he added.

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