Roger Gifford: British Companies Keen On Investing in Egypt
On Sunday morning, the British Egyptian Business Association (BEBA) organized a special working luncheon “The UK and Egypt: A View from the City of London” in the honor of the Rt. Hon. Alderman Roger Gifford, the Lord Mayor of the City of London, and his accompanying delegation.
Lord Mayor Roger Gifford has underscored the necessity of his visited to Egypt, which is included in his trip to the Gulf countries. Egypt is considered as the most important country in the Middle East region, and it is a prosperous area for investments; referring to the investments between countries with the so-called a win-win situation.
The Mayor has elaborated that the UK can help Egypt in many ways. It can invest in Egypt, whereas many whopping British companies are keen on investing in the Egyptian market, while other companies are seeking to expand their investments in Egypt. He clarified that some British investments didn’t exit the Egyptian market, although the current political tension.
“ The investments wouldn’t kick off in Egypt, unless there is no stability and credibility that attract investors to the Egyptian market”, said Mayor of London.
On the other hand, Mr. Roger Gifford highlighted the strength of the UK economy; referring that any stable economy needs good financial relations and trust. As to the SMEs, he said they are crucial for any economy. The SMEs greatly consider as a job creator and half of the private sector depend on them.
On the sidelines of the luncheon “The UK and Egypt: A View from the City of London”, Hazem Hassan, Board Chairman of the British Egyptian Business Association (BEBA), stressed the necessity of the Mayor of London’s visit; referring to the British companies’ willingness to invest in Egypt. He has clarified that the investments are awaiting, on the short-term, the security stability, clear laws that encourage on investing in the Egyptian market, and a clear vision for the economic policies in Egypt; as the politics has influence on any economy. While on the long-term, Mr. Hazem Hassan referred to the development of labor, environment, and the stability of tax legislations.
