Parliament Poll Delay won’t hamper Egypt Economic Summit’s Goals

Postponing parliamentary elections would not affect Egypt’s March Economic Summit, Mohamed El-Sewedy – chairman of Federation of Egyptian Industries (FEI) – affirmed on Monday.

The Chairman asserted that delaying the elections would not represent an obstacle to achieve the summit’s objectives to attract foreign investments to Egypt.

Egypt’s Economic Summit will be held from 13-15 March 2015 in Sharm El sheikh.

El-Sewedy said the delay in holding the elections would not affect investors negatively, adding that Supreme Court’s rule represent a chance to assert state’s commitment to the law provisions. It sends a message to the whole world that Egypt respects the power of law.

On Sunday, parliamentary elections in Egypt were set to be delayed after the Supreme Court ruled part of an election law unconstitutional. The ruling struck down part of the law that defined electoral districts.

Moreover, the chairman noted that postponing the elections rule is to correct legal situations not to cancel the elections, hence; it would convey positive impressions about situations inside Egypt.