Yasser Ali: President Morsi European Tour to Attract Investments
Yasser Ali: President Morsi European Tour to Attract Investments
Friday, September 7,2012 22:34

Dr. Yasser Ali, Egypt’s Presidential spokesman, affirmed that President Mohamed Morsi’s European tour in Belgium and Italy towards the end of next week is mainly aimed at attracting international investment to set up projects in Egypt.

"These investments will create more job opportunities in Egypt."

The tour also aims to promote relations between Egypt and the European Union, and to assure Europe and the whole world that Egypt’s new political administration is determined to protect and facilitate investment.

In a statement, the Presidential spokesman further said, "President Morsi will explain to European officials the concrete steps Egypt has taken in areas of ??political, administrative and economic reform.

"He will also explain that recent government actions were aimed at boosting development, injecting new blood in the arteries of national and administrative work".

Dr. Yasser Ali added that President Morsi is keen to attract local, Arab and international investment to the Egyptian market, so as to increase employment opportunities – especially for young people.

He noted that 700,000 citizens enter the labor market every year, and that they need real job opportunities, "there is also an accumulation of unemployed people from previous years; and therefore job-creation is an important part in achieving the social justice system".

Dr. Ali called on all Egyptians to positively consider ideas offered by the new government to modernize society and achieve progress, including Nahda (Renaissance) Project put forward by President Morsi in his platform, in which he referred to the possibility that Egypt will attract investments worth $200 billion, due to the broad and promising investment opportunities the country offers, especially as Egypt needs huge infrastructure projects, and it also represents a large market for all kinds of products.

He pointed that there are other ideas and initiatives, such as the ‘Egypt 2050’ strategic project put forward by Dr. Fathi ElBaradei, former Minister of Housing.

Dr. Yasser Ali assured that many international corporations are interested to invest in post-revolution Egypt, revealing that already many Chinese companies have expressed determination to set up projects in Egypt.

He also pointed to the Qatari Prime Minister’s recent announcement that his country intends to pump investments worth $18 billion in projects in Egypt’s Port Said city and other regions of Egypt’s north coast, over the next five years.

"A delegation of American businessmen is also visiting Egypt to explore investment opportunities here. I am sure they, as well as all other investors, will find that investment in Egypt is feasible, profitable, as confirmed by the latest international studies which indicate that investment in markets of Egypt and African countries will be the most profitable in the world."