Bashar’s Investigations Compel 15 Syrian Investors To Withdraw EGP3 bln From Egypt

Some Syrian businessmen, who live in Egypt since the Syrian revolution has erupted, unveiled that they were threatened by the Syrian investigations in case of continuing their new investments in Egypt. This matter let to exiting EGP 3 billion investments from Egypt.

An owner of one of the new Syrian factories, that operate in the field of ready-made garments at EGP 50 million, said he was received a warning message through his e-mail that threatening to kill him and his family if he doesn’t froze his investments in Egypt.

The owner, who preferred not to mention his name, added that 15 Syrian investors had taken the decision of not investing in Egypt and transferred EGP 3 billion to private accounts in European banks, fearing of the threats that they received via the e-mail and the short messages. This refers that there are groups, who are pro-Bashar Al Assad, and work for the interest of his investigations authority.

Some 50 Syrian investors announced since three months that they want to transfer their investments from Syria to Cairo owing to the crisis there. These investments were estimated with EGP 10 billion, focus on the sectors of textile, ready-made garments, marble, building materials and leather.

The Egyptian Minister of Industry has announced before the decision of establishing an Arab industrial area in both of Badr City and Al Obour City to receive those investments.