Egyptian economic expert Said Tawfik criticized the delay of issuing the investment law, saying that such a decision could harm the Egyptian economy. He praised the draft law, stressing that it has a number of articles that could eliminate bureaucracy.
Tawfik underlined the importance of medium and small projects, calling the Egyptian government for studying the Chinese experience. He added that the small projects are considered the cornerstone of economic growth in the developed countries, stressing that they perform a major role to eliminate the unemployment.
He stressed that China’s economy is based on small projects, saying that all Chinese citizens work and export their products to attract the hard currency. He stressed that the government should give the priority to the passage of the new investment law.
He praised the governmental decision to allow the money transfer, saying that it is necessary for the Egyptian government to take the measures aiming to remove obstacles impeding the investors. He added that there are a number of conditions that should be imposed on the investors, including the dependence on Egyptian labors to eliminate the unemployment.
Regarding the ministerial reshuffle, he said that there were a number of ministers who did not perform well during their tenure in the light of the increasing prices and shortage of commodities, saying that they called for the ministerial reshuffle as the only way to save the country from the economic crisis. He praised the new ministers, saying that they enjoy the efficiency to contain the current economic problems.
He praised the decision to merge between the ministries of Investment and International Cooperation, saying that the country needs to attract more investments during the current period. He added that the government should use the strong relations between Minister Sahar Nasr and a number of international institutions