Former Capital Market Authority President Hany Sarie Eldin told the MENA that Egypt is an attractive market for investment in light of the volatile situation taking place in different parts of the world, pointing out that the problem in Egypt lies only in the application of laws and not in the need for new laws.
He added that the Egyptian government has stalled huge investments that have been agreed upon previously, especially in the Sharm el-Sheikh conference, because it believes the country needs new laws, whereas the current laws remove all obstacles.
“Most officials do not read the laws carefully,” he said, adding that the previous investment law is not much different from the new one.
“Egypt has heavy, information technology and logistics industries that make higher profit margins than anyplace else in the world because the investment cost is relatively low,” he said.
Edited translation from Al-Masry Al-Youm
