Dr. Mustafa Madbouly, the Prime Minister, held his first meeting  with members of the economic group that seeks improving investment climate in Egypt,Counselor Mohamed Abdel Wahab, CEO of the General Authority for Investment and Free Zones, Engineer Ibrahim Al-Araby, chairman of the general Federation of Chambers of Commerce, engineer Mohammed Al-Suwaidi, chairman of the Federation of Industries, and a group of senior businessmen and investors attended the meeting, within the framework of the state’s plan to maximize benefits from all investment tools and to encourage businessmen and investors to pump more capital into major development projects.

The Prime Minister confirmed that the current stage requires the concerted efforts between the government and the private sector.

He indicated that the recent cabinet reshuffle witnessed transferring supervision of the Investment Authority to the Council of Ministers.

The Prime Minister admitted that there are a number of accumulated issues, some of which have already been tackled, but said other measures still need to be implemented.

Dr. Mustafa Madbouly, also pointed out that a ministerial committee for investment was formed, which the central bank governor, and a number of ministers and officials are members, in the pursuit of encouraging investment and overcome the obstacles that investors faced.

He noted that in the previous period, efforts focused on amending the investment law, but the most important part today is its implementation.

A ministerial committee for investment has been formed including the central bank governor and a number of ministers and officials.

Madbouly mentioned that the government has launched a number of initiatives to encourage investment, stressing that it will continue to pursue them. 

The businessmen confirmed the need to mechanize all the administrative bodies to accelerate decision-making.

They also demanded the need to respect and enforce government contracts to encourage investors to pump more investments into Egypt.