20/12/2001
Al-Alam Alyom Newspaper 2001/DECEMBER /20
Businessmen and statesmen unanimously agree that foreign investors are very much needed in Egypt. They bring hard currency along with advanced and – usually – clean technology, and can enormously boost the country’s technological development and local workers’ skills. Yet, there is still too much bureaucracy along with technical impediments, technological backwardness and judicial slowness, so reforms are needed.(Available in Arabic – German in PDF)
Businessmen and statesmen unanimously agree that foreign investments are very much needed in Egypt. This developing country first opened its doors to foreign investments in the 1970s, but it still seems to be unable to fully reap the fruits. Foreign investors bring hard currency, advanced and – usually – environmentally clean technology, and can enormously boost a country’s technological development and local workers’ skills. Some facilitation has already been introduced for foreign investors and companies operating in different fields, especially in free zones. Yet, Egyptian industrialists and businessmen agree that there is still too much bureaucracy along with technical impediments, technological backwardness and judicial slowness. They call on the local authorities to carry out more reforms in order to attract foreign investors instead of scaring them away.