Insurers Hail Reviving Ministry Of Investment

Insurance experts affirmed that assigning Osama Saleh to lead the revived Ministry of Investment is a good step which will bring positive results.

Alaa El-Zoheiry, managing director at the Arab Misr Insurance Group (AMIG), said the new cabinet led by Hisham Kandil has to set a precise strategy to help it achieve its goals. It is difficult to assess the new ministers now as most of which are not broadly known, he noted, adding that time will reveal their capabilities. Reviving a ministry for investment is a good step as investments in Egypt require an independent ministry, he said, hoping that insurance sector will be subjected to the Ministry of Investment which will help in removing the obstacles facing the sector.

Hammam Badr, chairman and managing director of Iskan Insurance Company, said the most important step taken by the new cabinet is focusing on economy which is manifested in reviving the Ministry of Investment and assigning Osama Saleh as the minister, he added. Osama Saleh has great experience in investment as he was the chairman of General Authority for Investments and Free Zones. Badr also hoped that insurance sector will be subjected to the new ministry.