Government’s recent economic decisions are “good”: Abul Enein

Businessman and Chairman of Egyptian-European Business Council Mohammed Abul Enein suggested Saturday، the application of the economic zones with special nature law، which is and applied to the economic zone of the Suez Canal Authority، after being amended، in all the governorates of Egypt.
Abul Enein praised the government’s recent decisions، including the decision to float the currency، the decisions of the Supreme Council for Investment، the decision to rationalize subsidies and social security network، during his speech at Akhbar Al-Youm economic conference.
He pointed out that such decisions send a message confirming the strength of the Egyptian economy and political well to take bold decisions to reform.
Chairman of Egyptian-European Business Council explained that he had found positive reactions of some foreign countries towards those decisions، stressing on the need to take further procedures and decisions that will encourage investment and highlight the potential powers of various governorates، as well as increasing their competitiveness.
He noted the need for an integrated development and ambitious visions within specific timeframe. Also، he called for setting a huge and ambitious economic vision for the advancement of the Egyptian economy، to be implemented within specific timeframe.
Abul Enein، said: “The Chinese President، when asked about British departing Hong Kong، he dared the world to make China like Hong Kong. If we look at China، we would find that it managed to rule the world، through establishing industrial zones with special nature and these zones were given special industrial zones privileges. Then، a director for each zone was appointed، thus achieving the goals set up by each zone،”
The businessman tycoon stressed that the economic zone with special nature in Egypt is very important in this phase، paying tribute to Dr. Ahmed Darwish for his success in selling 22 million meters of Suez Canal development axis region during 11 months.
He called for applying economic zone law to the entire country، especially after this law was able to overcome the bureaucratic restrictions and adjust the tax rate، as well as other privileges that can be offered to investors، pointing out that the law can be revised and reconsidered for circulation to the entire country.
Abul Enein also called for establishing a plan to implement a strategy aiming to the advancement of the economy، in order for Egypt to achieve a particular purpose and desired position in 10 or 20 years time، and not only look to the development rates، adhering to the concept of integrated development، through legislation and future visions and practices. He pointed out that this way will attract investor after the picture became clear in front of him and he became familiar with the plans of the Egyptian government for 10 or 20 years ahead.
Chairman of Egyptian-European Business Council، said: “We want to build Egypt and to build the new Egyptian civilization with great totalitarian ambitions، as the figures we are talking about is not worthy of it. We want to export an Egyptian economy to the whole world and we want to create the concept of ‘Brand Egypt’ and for Egypt’s name to become a global brand،”
He expressed his delight on the optimism among Egyptians in the society، stressing that Egypt has an alert political leadership that takes tough decisions in a timely manner.
The businessman tycoon، said: “We must have momentum in all fields، as tourism is on its way to recovery during the coming period and that the industry، as well as the industrial cities and specialized production should take their rightful places، like in China and Brazil.”
Abul Enein explained that enhancing specialized production can be achieved through establishing advanced industrial cities similar to what is found in China، Brazil، noting the importance of developing the concept of good marketing for investment and reforming the education and health systems.
A number of ministers، officials and parliamentarians attended Akhbar Al-Youm economic conference.