Brotherhood businessman calls on investors not to abandon Egypt

Brotherhood businessman calls on investors not to abandon Egypt

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Sun, 24/02/2013 - 23:00

Hassan Malek, a prominent businessman and a member of the Muslim Brotherhood, called on investors to break the state of frustration and artificial despair they face on a daily basis, and focus on working and taking on challenges toward the goal they yearn to achieve.

Malek — who heads the Egyptian Business Development Association and Tawasol committee, which deals with coordination between businessmen and the president’s office — spoke during the Turkish Experience Conference Sunday.

“Investors should not abandon [our] home country during the time of crisis,” he said.

He called for doubling investments, saying the country can only attract foreign investments if it has the spirit of challenge and courage.

Malek called on Turkish businessmen at the conference to seize the great opportunities in Egypt, with its huge market and its location, which makes it a gateway to the Arab region and Africa.

Malek said circumstances, such as the two countries’ political administrations, allow such cooperation between Turkey and Egypt. He suggested creating a complete strategic economic partnership, so that the capabilities and resources of two countries can work together.

Egypt has struggled to attract foreign investment after the 25 January revolution two years ago, in which it ousted President Hosni Mubarak. Political instability that has continued after President Mohamed Morsy’s election last year has had an ongoing effect on the country’s economy.

Edited translation from Al-Masry Al-Youm