During the opening session of the conference titled, "Egypt after the Revolution" attended by representatives of the military council and the industrial sectors, officials said that improving Egypt's economy is the top priority for the next stage. They demanded drafting a strategy that aims to attract more investments as well as supportiing current investments in different sectors. Galal al-Zorba, the chairman of the union for industries, demanded drafting short term plans in order to achieve nine to ten percent growth rate, increase job opportunities, attract more investments and support exportation. He also said the Egyptian industry faces tough challenges that should be faced. Elhamy al-Zayat, the chairman of the Tourist Chambers, said the annual income of tourism reached 12 billion EGP. The industry also hires approximately 3.2 million workers, which shows how much tourism contributes in easing the unemployment crisis in Egypt, he added. Al-Zayat added that tourism has been strongly affected by the recent events that Egypt witnessed since the January 25 Revolution. It experienced an 87 percent drop in February. He stressed the need of formulating a vision in order to restore tourism in Egypt. He also criticized the powers which refuse tourism, demanding them to find other sources for the national income and hard currency. Ibrahim Mahalb, the Vice President of the Building Contractors Union, said the contracting sector has been affected by Egypt's revolution. He said the lack of liquidity and the suspension of some projects are the main challenges that threaten the future of the sector which hires around two million workers. Mahalb suggested drafting a map to support contracting projects and other activities in order to restore Egypt's economy. He said the sector faces a serious challenge regarding how to curb slum areas, and added that it is the suitable time to establish a model for housing. Mahalb said it was necessary to develop technical educational projects as national projects that will attract investments and change work in Egypt. Mohamed al-Masry, the vice president of the Trade Chambers Union, said that all Egyptian sectors have been affected by the recent incidents in Egypt. The losses of the industrial sector amounted to 12 billion EGP, while Egypt's economic growth decreased to 2.1 percent and inflation rose to 14 percent. Al-Masry asked the military council to examine taxes, especially in these current conditions. He speculated how tax could have increased by five percent while there remains to be no investments.
