CAIRO: President Abdel Fatah al-Sisi said that Egypt is now working to solve difficulties facing investors, and he welcomed them to come and invest in the country, in an interview with Kuwaiti state-owned television Monday.
The interview came on the sidelines of Sisi’s first visit to Kuwait on Monday; he returned on Tuesday.
“During the past few years, Kuwaiti investors and many other investors faced difficulties inside Egypt,” Sisi said, adding that the country has managed to solve a number of these problems during the past few months, without mentioning further details.
“I want to reassure them that [investors] are welcomed and that we are drafting a unified investment law to facilitate procedures. We [are working] to solve all the difficulties that existed before, which gave a bad impression,” he added.
He added, “Investment opportunities [now] in Egypt are very big.”
Regarding the rising economic projects aiming to boost Egypt’s economy, Sisi mentioned the Suez Canal Development project, the national road network aiming to link the whole country together and the reclamation of 4 million feddans of agricultural lands.
Sisi said the Suez Canal project aims to “revive global routes.” The project, which was launched to construct a new canal parallel to the old canal facilitating two-way movement of ships at the same time in opposite directions, “will develop trade movement during the coming years between the south and north,” Sisi said during the interview.
He also said that the Suez project, which is scheduled to be ready by August 2015, will save the time of ship passage through the canal by not less than 11 hours, as well as, it will open a chance for developing the Suez Canal corridor with major projects for a “real investment.”
Furthermore, Sisi said that the country “is working on a comprehensive strategy to fulfill Egyptians’ needs and solve the country’s economic problems.”
“We have been preparing for the [coming economic summit] for a few months, and the goal is to implement a clear map for investment,” he added. He also noted that there are available projects waiting for the approval of investors.
Sisi invited Kuwaiti partners and investors to attend the summit, which is scheduled to be held in Cairo in March 2015.
Also while in Kuwait, Sisi met with the Emir of Kuwait Sheikh Sabah al-Ahmad al-Jaber al-Sabah. During the interview, Sisi praised efforts of the emir for enhancing both countries’ relations as well as the Arab accord at all levels.
“Arab national security is indivisible…the Egyptian national security is indivisible and the Gulf national security is part of Egypt’s security,” he said.
The Arab region is facing difficult circumstances, he said, “the existing challenge risks the whole region, and we cannot face it unless we are together.”