Egypt’s government has to deliver growth to survive
Canada Goose online CAIRO (Reuters) Egypt government has to deliver economic growth to survive and can let complex laws and bureaucracy discourage foreign investment, the country investment minister said. Canada Goose online
Egypt’s Investment Minister canada goose coats on sale Ashraf Salman speaks at the opening of the Euromoney Conference in canada goose store Cairo September 16, 2014. REUTERS/Al Youm Al Saabi
Canada Goose Jackets Egyptian President buy canada goose jacket Abdel canada goose uk black friday Fattah al Sisi, whose two predecessors were toppled by protests in the past three years, has implemented some of canada goose clearance the economic canadian goose jacket reforms that Canada Goose online may boost investor confidence, slashing fuel subsidies and raising taxes. Canada Goose Jackets
Canada Goose sale But the big question is whether canada goose uk shop investors can expect real change when yet another man drawn from the military is steering a nation plagued for decades by red tape, corruption and other obstacles that keep foreign companies away. Canada Goose sale
Investment Minister Ashraf Salman canada goose clearance sale said Egyptians will not allow the president or his ministers to maintain a cheap Canada Goose system which has led to a soaring budget Canada Goose Coats On Sale deficit, dwindling foreign reserves and general economic malaise.
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will not canada goose coats accept anymore somebody to be canada goose like Mubarak, to stay in power for 30 years. They will not accept anymore a minister like myself to stay on this seat for 20 years.
Economic mismanagement was one of the reasons hundreds of thousands of Egyptians staged mass protests in Tahrir Square in 2011 against autocrat Hosni Mubarak, leading to his ouster.
Critics say Mubarak ministers tended to deliver sugar coated news to Egyptians and foreign investors about the economy of the most populous Arab country.
cheap Canada Goose Now Sisi, who served as chief of military intelligence under Mubarak, has set a new tone. His ministers say they are delivering a more realistic assessment of challenges and the painful reforms needed to tackle them. cheap Canada Goose
canada goose black friday sale Salman, for instance, says none of the major problems for foreign investors have been resolved but he stressed that streamlining the process is a priority. canada goose black friday sale
don need to go to 12 government institutions and then you have a lot of contradictions between one institution and another and you spend quite a lot of time to establish your company and get it up and running, said Salman.
He said it currently takes foreign investors up to six months if they are lucky to secure the licenses and permissions needed to operate in Egypt, which is struggling canada goose black friday sale to shake off a legacy of state intervention in the economy.
canada goose coats on sale are trying now to minimize this time to be anywhere from two to three weeks in order to have a full company established, operating, up and running, ready for investment. canada goose coats on sale
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Canada Goose Parka of the big problems have been solved until now except for issues related to administrative procedures, said Salman. Canada Goose Parka
canada goose coats Foreign investors have been hesitant to return to Egypt, fearful they will get entangled in costly lawsuits, one reason a new law Canada Goose Parka blocking third party challenges to deals between the government and companies is so important. canada goose coats
buy canada goose jacket cheap Salman said that even if that law was overturned his ministry would find a way to shield https://www.canadagoose-jackets-online.com investors. He said the government was targeting about $10 billion of foreign direct investment in the Canada Goose Outlet fiscal year ending in June. buy canada goose jacket cheap
buy canada goose jacket Egypt government is banking Canada Goose Online on an economic summit scheduled for February in the Red Sea resort town of Sharm el Sheikh to showcase what it says will be billions buy canada goose jacket cheap of dollars worth of prime investment opportunities. buy canada goose jacket
Salman said investment banks, not the government, would handle the event and marketing of potential ventures.
canada goose clearance Asked why the conference would be canada goose outlet more successful than a similar one in 2012 that brought no tangible results, Salman said: getting professionals to manage it. canada goose clearance
canada goose Egypt economy has been kept afloat for the past year by its Gulf Arab uk canada goose allies Saudi Arabia, the United Arab Emirates and Kuwait, who backed the army ouster of elected Islamist President Mohamed Mursi in July 2013 and support Sisi as a bulwark against the cheap canada goose uk spread of political Islam in the region. canada goose
canada goose clearance sale These nations have cautioned that their aid would not be forever, and Egyptian officials say the focus will now be on Gulf investment. Salman said those countries would not receive uk canada goose outlet preferential treatment in investment. canada goose clearance sale
Canada Goose Outlet will not have any favorable relations with one nationality over another, or to one investor over another even the citizens of this country, he said. are trying to make this economy attractive and fair. Canada Goose Outlet
After Sisi removed Mursi and his Muslim Brotherhood from power following mass protests, security forces killed about 1,000 of the group supporters at Cairo protest camps and arrested thousands of others.
The crackdown drew widespread condemnation from rights groups Canada Goose sale and generated accusations that the country had returned to the kind of army backed dictatorship that makes some investors uncomfortable.
Asked how much further Egypt had to go to complete its democratic transition and improve human rights, Salman said parliamentary elections were the next step, canada goose factory sale adding the date canada goose uk outlet was expected to be announced within a month.
