Ahmed Abdel Hafez: Providing investment programs to 13 million Egyptians abroad strongly supports the economy


Dr. Ahmed Abdel Hafez, an economist, said that the Egyptian economy is still attractive, as the large population of Egypt consumes food, drink and needs, and this means that the demand in the Egyptian economy is large, and this means that it is necessary to have production that meets this demand..

He pointed out that the energy situation in Egypt recently during the era of President El-Sisi has changed a lot, as it has abundant energy that makes investors and investment in general know that Egypt has advantages so that it can enter Egypt through the abundance of energy.

And energy in Egypt has become different, whether it is electric energy, gas or solar energy. Energy in Egypt has begun to move greatly, and this is one of the basics in any investment, which is the abundance of energy, especially since it is at prices that are not large in proportion to international prices. Thirdly, Egypt spent sums Expensive on the infrastructure, as it built roads, bridges, new cities and an administrative capital, and this has a significant impact on attracting investment. .

Fourthly, Egypt will have a new agreement with the International Monetary Fund within about a month, and this means that it is a certificate from the Fund, and the Bank that you will follow in well-thought-out steps and its dimensions are known, and therefore you will have a certificate from large institutions that you are in line with regard to monetary policy, financial policy or other policies..

Regarding Egyptians abroad, Dr. Ahmed Abdel Hafez stressed that Egypt has about 13 million Egyptians abroad, who represent a great strength and support for the Egyptian state, and therefore programs can be developed for them, whether lands, assets, or projects that are invested in dollars, with attractive returns higher than Returns in European countries and America are guaranteed at the same time .

He added that it is possible to discuss ways to attract workers abroad and diversify the opportunities and projects available to them to transfer their savings to Egypt, as well as their friends from Arab and foreign investors to save dollars; To strengthen the reserves and the exchange rate for the coming period .

He pointed out that Egypt witnessed the entry of international companies, and therefore it can be dealt with flexibility, especially that the fluctuation of exchange rates is a temporary problem, and it is a temporary problem in the whole world, as a result of the problems that occurred in the money markets, interest rates, “hot money” and inflation in the world, pointing out that it is expected to stabilize soon. Very, especially since there is a very big trend for agriculture next to plans to replace imports with local factories and with the decrease in imports, the alternative will be a local product, and this is what happened in the past period already in many commodities .

He added that many importers have started building factories, or requesting the manufacture of some products from national factories in light of the instability of the dollar, pointing out that Egypt is still better than many countries in light of global inflation and the suffering of America and Europe from its rise, and therefore I call on the government, whether ministries, or The investment authority or the governorates to appropriately promote investment projects and opportunities .

He explained that the focus should be on promoting Egypt as an alternative to the European market, which is suffering from a severe energy crisis, and we will be the alternative for them and attract international factories to Egypt and make factories and branches for them, and it will be a good start to attract global investment, noting that for the success of this, incentives must be provided greatly. And that there should be flexibility in dealing, overcoming all obstacles and difficulties and speed at the same time, and cooperation between the authorities in speeding up licenses and obtaining land..

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