EJB: Egypt’s Political Tensions Prevent Flow of Foreign Investments

 Eng. Mohamed Mourad El Zayat, Vice Chairman of Egyptian Junior Business Association (EJB), said the incidents, of the political states instability, the flounder of decisions and delaying the IMF loan to January 2013, which Egypt is witnessing came due to the absence of social dialogue.

El Zayat has pointed out that the crisis of imposing taxes will push up prices to bear the Egyptian citizen additional burden; underscoring the necessity of transparency and social dialogue for bolstering the economy wheel.

He has referred that there are numerous investments following up what is happening in Egypt in the few coming days; mentioning that Egypt needs political stability in order to achieve economic stability and real renaissance that the citizen can feel with.

El Zayat said the government has a big role to serve the Egyptian economy, revive the the public sector and support the private sector, so as to establish several projects through eradicating corruption and bureaucracy.

The EJB’s Vice Chairman has underscored the necessity of the private sector which represents 70% of the job opportunities in the Egyptian market; referring that there are several obstacles that face the investments in Egypt; like the infrastructure and the neglected workforce.

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