Tycoon Naguib Sawiris: “Now is the best time to invest in Egypt”

Egyptian billionaire businessman Naguib Sawiris said Monday that investment returns in Egypt are the highest in the world.

Speaking in a video shared via social media, the chairman of Orascom Telecom Media and Technology (OTMT) noted that there was no better time to invest in Egypt other than the present time.

Egypt’s new investment law will eliminate bureaucracy as well as encourage Egyptians to increase their investments in their home country, Sawiris stated.

He further commented on the significant progress seen in terms of the new roads and energy stations added to the grid that could suffice for 10 years or more.

Moreover, the recent natural gas discoveries in the Mediterranean can suffice local demand, with some output to be exported, Sawiris said.