3 Key Factors Behind Saying GCC-Egypt Partnership is Effective

The Egyptian Finance Minister, Dr. Ahmed Galal said there are three fundamental reasons which will make the partnership between Egypt and Gulf countries a distinct relationship, pointing out that the historical relationship between the two parties are so important but it doesn’t represent fundamental factors to attract Gulf investments to Egypt.

Galal added in a keynote speech at Gulf- Egyptian Investment Forum that these reasons including the high rates of unemployment the availability of labor against the scarcity of the Egyptian capital, which makes Egypt needs for fresh investments to exploit these factors to achieve real development, pointing out that the foreign investor can achieve higher return for emerging the economy.

He mentioned that the second reason is representing the gap between saving rates and the investments in Egypt, asserting that saving rates did not contribute except with 15% of the national income, which makes Egypt in deeply need to pump new investments.

He added that the third reason will make the Gulf-Egyptian partnership has exchange return such as improving the Egyptian economy more than it was the last year as it suffered high unemployment and low growth rates, adding that the third factor that makes the partnership between Egypt and the Gulf states fruitful partnership for both parties.

Galal illustrated that Egypt’s future in front of it not behind it as the investor has an outlook before pumping investments in any state, adding that political stability and security situation continues to improve, stressing that the political transition that Egypt is currently doing will make it a partner of a good investment.

He asserted that the current interim government is striving to take many procedures in order to achieve social.