Ramsco's Women Empowerment Initiative Recognized Among Top BRICS Businesswomen Practices for 2025    Egypt, Elsewedy review progress on Ain Sokhna phosphate complex    Gold prices end July with modest gains    Pakistan says successfully concluded 'landmark trade deal' with US    Egypt's FM, US envoy discuss Gaza ceasefire, Iran nuclear talks    Modon Holding posts AED 2.1bn net profit in H1 2025    Egypt's Electricity Ministry says new power cable for Giza area operational    Egypt's Al-Sisi, Italian defence minister discuss Gaza, security cooperation    Egypt's FM discusses Gaza, Nile dam with US senators    Aid airdrops intensify as famine deepens in Gaza amid mounting international criticism    Health minister showcases AI's impact on healthcare at Huawei Cloud Summit    On anti-trafficking day, Egypt's PM calls fight a 'moral and humanitarian duty'    Federal Reserve maintains interest rates    Egypt strengthens healthcare partnerships to enhance maternity, multiple sclerosis, and stroke care    Egypt keeps Gaza aid flowing, total tops 533,000 tons: minister    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Culture minister launches national plan to revive film industry, modernise cinematic assets    Rafah Crossing 'never been closed for one day' from Egypt: PM    I won't trade my identity to please market: Douzi    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt's EHA, Huawei discuss enhanced digital health    Egypt, Oman discuss environmental cooperation    Egypt's EDA explores pharma cooperation with Belarus    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Investors postpone visits to Egypt due to political unrest
Published in Daily News Egypt on 16 - 12 - 2012


By Ahmed Salama
Business councils have been cancelling their meetings with foreign investors as a result of the political deadlock the country has found itself in and instability surrounding the Constitutional Declaration.
An Ethiopian delegation pushed back its trip to Egypt to an undetermined date, as well as a conference it was scheduled to hold entitled, “rebuilding Sinai." This came in addition to several Turkish and Qatari delegates temporarily cancelling their investments in the country, as part of a larger move by nearly all business associations to do the same.
“The ‘rebuilding Sinai' conference was cancelled because of the perpetual state of division that Egypt has found itself in, since voting on the referendum began. All parties involved agreed to push the conference back to an unnamed date," said the President of the North Sinai Investors Association, Tamer El-Shorbagi.
Ayman Eissa, President of the Egyptian-Ethiopian Business Council, said that this is not the first time that the Ethiopian delegation has cancelled its trip, and that he doesn't see the situation improving in the coming months.
“Egyptians have not been meeting with their Qatari counterparts because of a lack of stability in the country," said the Secretary General for the Council of Egyptian-Qatari Businessmen, Adel Rahouma.
Fayez Ezz El-Din, President of the Canadian Chamber of Commerce in Cairo, said that a number of companies who have gold drilling contracts in Egypt would be ready to pump money into the economy, if not for the unstable political situation. He added that these companies would renew their investments once a clear political vision has been laid out.
Ahmed Galal, representative of the Turkish MUSIAD organisation in Egypt, said that the group has postponed its “City Scape, Next Move" exhibition that was scheduled to be held December 18 of this year. He added that this is the second time the conference has been postponed, and that the political environment in Egypt has led many Turkish companies to delay their investments.


Clic here to read the story from its source.