Sisi directs to give priority to development in Upper Egypt, Sinai

Investment and International Cooperation Minister Sahar Nasr said that President Abdel Fattah El Sisi directed to give priority to development in Upper Egypt and Sinai governorates.

During her participation in a Suhur held by the Egyptian Federation of Investors Associations on Wednesday, Nasr stressed that economic stability and infrastructure are important to improve the climate of investment in the country, adding that her ministry is working on amending the financial leasing and institutional reform law.

The new Investment Law, which was recently approved by President Sisi, aims at offering facilities for investors, Nasr said. There is a societal dialogue with investors on the executive regulations of the Investment Law, she noted.

She further underlined that new investments will be pumped into the Egyptian market, a matter that will create new jobs for youth and improve their living conditions. 

The investment ministry is keen on activating the Investment Law and facilitating all procedures for investors to help boost Egypt's economy, Nasr said.

She underlined that there is an Article in the Investment Law that stipulated compliance with decisions of the Dispute Settlement Committee as long as the cabinet approved them.

Nasr said that she paid attention to Sinai development, adding that she visited the most needy areas in North Sinai and El Tor city in South Sinai.

She underlined that President Sisi gave priority to development in most needy governorates, especially Upper Egypt and Sinai, adding there is full coordination among all ministries in this regard. 

For his part, Chairman of the Egyptian Federation of Investors Associations Mohamed Farid Khamis said investors are now confident in Nasr's ability to solve their problems in Egypt and the improvement of the investment climate.

Source: MENA