Egypt's NBE, Banque Misr collect EGP 705 bln from high-yielding CDs issued on March 21    Gold prices in Egypt on May 24    Saudi Arabia's Mouwasat signs MoU to acquire Egypt's Al-Marasem International Hospital    Egypt to inaugurate new Sphinx International Airport in mid-July    Turkey's finance minister to visit Egypt for first time in 9 years    Finland and Sweden formally apply to join NATO alliance    Saudi Arabia prolongs Yemen central bank's deposit    Egypt Knauf launches its first training centre in Egypt    Egypt uncovers official logo for COP27    Noura Al-Mutair – first Gulf female boxer in World Championships    Egypt unveils 50 pound coin minted to mark Avenue of Sphinxes grand reopening    Liverpool fans: "You'll Never Walk Alone" to Cristiano Ronaldo    Hot, rainy weather hits Egypt this week    COVID-19 in Egypt: infections fall to 124 cases last week    Egypt to play key role in integrating water, climate issues globally – World Bank official    Egypt's telecoms regulator announces working hours for holy month of Ramadan    Maha karara joins AAIB as Head of Corporate Communications, Sustainability    Egypt works on charting cooperation strategies with international institutions for 5 years: Al-Mashat    Over 2.4 million newborns examined for hearing impairment: Health Ministry    Netflix releases trailer of Arab adaption of 'Perfect Strangers' film    Balqees to headline concert celebrating launch of streaming giant LIVENow in MENA    Sawsan Badr to be honoured at Aswan Women Film Festival    MP Abdel Hady Al-Qasby calls government to facilitate and support NGOs    Al-Sisi follows up on 'Great Transfiguration Project' in St. Catherine    Cairo, London stress need to strengthen cooperation to face climate change    Foreigners account for 22.6% of Egypt's T-bills issuances in 1H 2021: CBE    Egypt's ambassador to Italy passes away    Egypt confirms readiness to help African countries face terrorism and extremism    An estimated 235 million people needed humanitarian assistance and protection in 2021, an increase of 40% compared to 2020: IOM Egypt    Egypt, DRC discuss water cooperation during WYF    Egypt, DR Congo discuss boosting bilateral cooperation during WYF    Cameroonian police probe assault on three Algerian journalists covering AFCON    Pharaohs start AFCON 2021 campaign with fierce clash against Nigeria    Foreign Ministry opens capacity building course for French-speaking African diplomats    Egypt's trade with Nile basin countries climbs 26% y-o-y in 9 months    Ethiopia halts work at its embassy in Egypt for 'economic reasons'    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.

Ending state of emergency indicates Egyptian's market political, economic stability: Communications experts
Decision encourages foreign companies to inject new investments in Egypt, says Negm
Published in Daily News Egypt on 26 - 10 - 2021

"A reassurance message for foreign direct investments and foreign companies" is how experts in the communications and information technology sector described President Abdel Fattah Al-Sisi's decision to lift the state of emergency in Egypt.
They expected the move to have positive effects on the flow of foreign direct investment into the Egyptian market.
Former Minister of Communications and Information Technology Khaled Negm said that President Al-Sisi's decision will have a positive impact on the investment climate in Egypt.
He added that it is a message of reassurance sent to investors interested in the Egyptian market.
Negm believes that the decision encourages foreign companies to invest in Egypt as well as local investors, and gives them more confidence and security for their investments.
He added that the decision reveals the visions of investors, which helps them to develop their long-term plans for the Egyptian market.
He explained that the different foreign governments usually monitor the state of markets where their country's companies invest and therefore such a decision would encourage them to push their companies to inject investments in Egypt.
Hisham Abdel Ghaffar, CEO and founder of MenaGurus
For his part, Hisham Abdel Ghaffar, CEO and founder of MenaGurus Investment Company, said that lifting the state of emergency encourages foreign direct investment because foreign capital often evaluates the state of political and economic stability of target countries.
He believes that this decision will attract more long-term investments that are guaranteed to deal with a stable legislative environment.
These effects of the decision will also be tangible in Egypt's ranking in the global credit indicators. "This is a positive message that will be strongly seen in the influx of foreign capital to Egypt, especially since the Egyptian market is full of opportunities."
Abdel Ghaffar believes that the current global economic conditions, with the supply chain crisis, can help make better use of the presidential decision in marketing Egypt as an investment hub in the Middle East and Africa. It will also become a centre for manufacturing and distributing international trade to regions of Western Europe.
He explained that the world is now suffering from a supply chain and energy crisis due to the dependence on China, and now many countries are considering distributing manufacturing areas among several countries to avoid any new similar crises in the future. This serves as a good opportunity for Egypt in light of the recent state of emergency lift.
President Al-Sisi had decided to lift the state of emergency across the country.
"Egypt has become, thanks to its great people and loyal men, an oasis for security and stability in the region. So, I have decided for the first time in years not to extend the state of emergency nationwide," President Al-Sisi said on Monday.

Clic here to read the story from its source.