Economic Program May Fail As Govt Snubs National Investor: Hussein Sabour

Mr. Hussein Sabour, Head of Egyptian Businessmen Association (EBA), said that the economic reform program, announced by Dr. Hesham Kandil’s cabinet during the last days, doomed to fail; referring that it is unable to achieve positive indicators for the economy that serve the development process in Egypt.

The economic reform program is expected to fail as the policies of the Egyptian government marginalize the national investor; consequently the investments rates might be dived, and then the economic growth rates unlike what the government is aspiring to attain through its program.

In his statements to “Amwal Al Ghad”, Sabour pointed out that the national capitals for investing in the external markets will flee the country in case of not changing these policies, which are characterized as slow in a number of files; such as energy and workers’ protests that extort business owners, besides the absence of law over the contracts signed between the state and the investor.

Sabour asked for intensifying the government’s efforts and consider the essence of the economic backwardness the country lives; instead of making up economic policies far from stimulating the national investor.