Egypt tops the list of Middle Eastern countries where Kuwaiti businessmen invest, Sheikh Nemr Fahd Al Malek Al Sabah, the undersecretary for international organizations and foreign trade at the Kuwaiti Trade Ministry, told MENA.
In an exclusive interview, Sheikh Nemr reiterated that all Arab countries considered Egypt as an investment attraction due to its tourist, economic and trade potentials. Sheikh Nemr, however, highlighted the importance of developing the business environment in Egypt to help increase investment opportunities.
To this end, a sustainable vision shall be adopted and youths supported to achieve leading positions in the coming stage of Egypt’s renaissance, he said. Within this context, Jordan’s investment experience can be considered by Egyptian officials, Sheikh Nemr added, referring to the one-stop-shop policy, not only to finalize investment measures, but also to solve any pending issues.
Egypt shall overcome all obstacles facing investors in the private sectors, he asserted, noting that many investors failed to complete their projects in Egypt. “A Kuwait investor is smart. He needs certain conditions in order to invest in any country, including the presence of flexible attracting laws, easiness of capital movement and guarantees from the government,” he said.
Also, a sustainable technical and security infrastructure would be an asset to lure investors, he added.
Meanwhile, Sheikh Nemr said the meetings of the joint Egyptian-Kuwaiti committee last week involved an agreement to increase the volume of trade exchange, continued coordination in international and Arab for an exchange of expertise in the field of world trade and establish a scientific and technical cooperation in the fields of criteria and quality control.