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Business leaders await definitive steps in economic transition - Daily News Egypt

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Business leaders await definitive steps in economic transition

‘We are optimistic about economic reforms,’ leaders say

Several Egyptian private business leaders expressed optimism regarding the latest structural economic reforms on the financial, monetary, social and legislative levels.

However, they demanded that the government seriously execute these reforms to yield positive effects quickly and attract more domestic and international investments.

Investors believe that Egypt is ready to take off. However, the government must consider implementing the solutions it announced for problems related to allocation of lands prepared with utilities, facing energy crisis and combating bureaucracy. These issues are hindering capital flow in Egypt, in addition to crippling investment movement.

Investors surveyed by Daily News Egypt expressed their opinions regarding challenges and opportunities in sectors like industry, tourism, real estate and energy. The latest monetary reforms allowing the Egyptian pound exchange rate to gradually decrease against the dollar are very positive. This will send reassuring messages to the local and international business communities, indicating that Egypt does not have two exchange rates for one currency. This will secure the future of investment growth, according to the investors.

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