Sisi inspects investors’ services centers, calls for removing hurdles to investors in Egypt

President Abdel Fattah El Sisi visited on Wednesday the investors’ services centers at the Investment and International Cooperation Ministry headquarters, stressing the necessity of removing all hurdles facing investors in Egypt.

In statements, Presidential Spokesman Bassam Radi said that upon the president’s arrival, Investment and International Cooperation Minister Sahar Nasr and Chairman of the Administrative Control Authority (ACA) Mohamed Arfan posted the president on challenges facing efforts exerted to improve the investment climate in the country.

They also reviewed a strategy to improve the investment climate.

The new strategy is based on pushing forward legislative and institutional reforms, drawing up an integrated investment map for Egypt, establishing new free investment zones, as well as promoting good governance, transparency and equal opportunities.

It also works on developing infrastructure, saving power, improving services provided to investors and accelerating procedures for settling disputes.

During his tour, the president expressed his appreciation of efforts exerted to improve the investment climate in the country, the presidential spokesman said.

He also directed the cabinet and the ACA to present a weekly report on the number of companies established and means of removing obstacles facing them, the spokesman added.

As for the issue of importing natural gas from Israel, the president said that this step is taken by the private sector. The government backs such steps, Sisi said, making it clear that there is nothing to hide on this score.

Egypt seeks to become a regional energy hub, a matter that requires maximizing the benefit of networks, capabilities and facilities used in processing raw gas discovered in the Eastern Mediterranean fields, whether in Egypt or in any other country, the president said.

The imported natural gas will be processed in Egyptian facilities, he said, adding it will enter the national network to be used in domestic consumption or export.

There is a law regulating natural gas trading in Egypt with a view to making it a free market, Sisi said.(MENA)