ELBA Member Urges More Economic Reforms in EgyptSource: www.export-egypt.com 12/1/2016, Location: Africa |
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A member of the Egyptian-Lebanese Businessmen Friendship Association (ELBA) hailed economic reforms currently conducted in Egypt, saying they have positive impact on business climate competitiveness.
"Yet, investors await improvement in facilitating procedures and ending bureaucracy which hinders any serious reform attempt," Mohamed el-Hout said. "It's important to start with addressing loopholes in laws that no longer cope with market developments, and to appreciate efforts exerted by the state in this regard," he added. He also asserted necessity to swiftly find practical and integrated solutions for challenges that face the economy in Egypt. This will help the country achieve firm and sustainable growth that combines together economic competence and social justice, said el-Hout. He called for amending all laws related to investment in Egypt. "It's important to give moral support for investors and to ease procedures instead of wasting their time in bureaucracy with most government bodies," he said. Egypt is qualified to be in an economic status it deserves in view of its capabilities and potential, he said. Thanks to its large market and geographic location, Egypt can become a world logistics hub in the region, he concluded |
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