This move will contribute to eliminating obstacles that hinder investment operations.
The investment council will play a significant role in coordinating policies among agencies — File Photo
Dr. Mohamed Atiya El-Fouly, the Secretary-General of the Federation of Egyptian Chambers of Commerce and the President of the Qalyubia Chamber of Commerce, has welcomed President Abdel Fattah El-Sisi's decision to reconstitute the Higher Council for Investment, calling it a step of utmost importance that comes at an appropriate time.
This move will contribute to eliminating obstacles that hinder investment operations, particularly bureaucracy in various relevant agencies and ministries. Moreover, it will play a significant role in coordinating policies among these agencies and preventing any conflicts that may harm the investment and economic climate.
Dr. El-Fouly added in a statement today that the reconstitution of the Higher Council for Investment would ensure the rapid implementation of the required economic reform plans amid the global political and economic turmoil that has adversely affected Egypt's comprehensive economic development plan, as with other countries worldwide.
The council's authority, which is directly led by President El-Sisi, will include all relevant parties, and thus its decisions will be fast, well-thought-out, and effective, with all agencies obliged to implement them.
This will attract more foreign investments and demonstrate the state's seriousness in solving investors' problems and removing the obstacles they face.
It also aims to expand the participation of both public and private sectors and send a clear and straightforward message to foreign investors that the country is determined to change the investment climate and provide opportunities for all.
Dr. El-Fouly called on the new Higher Council for Investment to issue laws and resolutions promptly that would purify the investment climate in Egypt and overcome the current challenges at both the local and global levels.
This new council represents a genuine structure of the Egyptian economy, which faces significant global and internal challenges requiring the rapid implementation of comprehensive economic reform plans, improving the business environment and climate, and...
President Abdel Fattah El-Sisi's decision to reconstitute the Higher Council for Investment comes at a time when Egypt is striving to overcome the economic and political challenges that have resulted from the global pandemic.
This decision reflects the government's commitment to revitalize the Egyptian economy and attract foreign investments. It also sends a clear message to investors that the state is serious about supporting and promoting economic growth.
