Mubarak looks into investment promotion report
Egypt, Economics, 3/23/2002

Egyptian President Mubarak has given specific directives to the government to start immediately in going ahead with the state plan for eliminating obstacles facing investment and ending the suffering faced by investors in dealing with government and administrative bodies.

To this effect, Prime Minister Atef Ebeid will today preside over a meeting attended by a number of ministers, chairmen of investment associations and businessmen for discussing complains of investors and setting urgent solutions for them, as a preliminary step towards raising a full dressed report before the President within days on the conditions of local and foreign investment in Egypt.

This meeting is due to take a number of decisions and a wide range of measures for pushing for-ward the wheel of investment and exportation, creating job opportunities, protecting local industry, eliminating customs problems, smuggling, dumping, facilitating customs procedures and drawback measures.

An official source told A1 Ahram that the meeting aims at examining entities and legislations governing investment climate in Egypt in the light of complaints raised by investors and offering urgent solutions to them.

The source said a wide range of recommendations would be taken for qualifying the Egyptian economy to cope with accelerated world changes. Recommendations include nonconventional solutions for achieving to normal and launching new entities represented in holding companies for investment in vital sectors.

Meantime, Prime Minister Atef Ebeid will hold an important meeting on Monday for reviewing the states of real estates in governorates in the light of decisions by the minister of housing on determining the role of local councils and governorates in following up the status of real estates in Egypt.

The meeting will examine administrative and legislative obstacles hindering maintenance of buildings in order to rein in demolition of buildings.

Meantime, the Prime Minister will tomorrow resume his field visits to Upper Egypt governorates. He will hold a rally during which he will review the level of services.

He will also inspect new graduate project for reclaiming and the cultivating 6000 feddans.

Previous Stories:
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