Egypt is very attractive investment destination, but needs incentives: Concord International Chairperson

Egypt is very attractive investment destination, but needs incentives: Concord International Chairperson

Chairperson of Concord International Investments Karim Helal said that the Egyptian state has a huge human force which represents a strong opportunity to invest in many sectors, with a huge room for development which requires an increase in the private sector engagement in the economy.

Recently, the state has adopted a trend towards empowering the Egyptian private sector, and providing various opportunities for its presence in all economic activities. In a way that helps to raise the private sector’s economic contribution to the gross domestic product, implemented investments, employment, exports, and government revenues, according to the Cabinet.

Helal told Daily News Egypt that Egypt is a very attractive investment destination, in terms of geographical location, population, and average age of citizens, but the general investment climate still suffers from several challenges.

He explained that promoting investment by the private sector in Egypt requires providing incentives to all parties, whether local or foreign investors, without discrimination. He pointed out that Egypt has great economic features, the most important of which is the stable political, economic and security situation, but it is in dire need to activate some facilitating factors such as transparency and clarity.

He stressed that clarity and transparency are essential, in addition to