Abou El Enein at the Real Estate Investment & Urban Development session
Businessman Mohamed Abou El Enein, President of the Egyptian European Council, called for the application of the “one-stop shop” as soon as possible, especially that the business community is waiting for it since 30 years ago.
Al-Akhbar 3rd. Economic Conference:
Mr. Mohamed Abou El Enein moderated the session on “Urban Development and Real Estate Investment” of Al-Akhbar 3rd. Economic Conference in the presence of:
- HE Dr. Mostafa Madboli, Minister of Housing, Utilities and New Urban Communities,
- HE Dalia Khurshid, Minister of Investment,
- Dr. Alaa Wali, Chairman of the Housing Committee of the House of Representatives,
- Mohammed Sultan, CEO of Palm Hills,
- Amgad Hasanein, of Capital Group,
- Maged Sherif, CEO of Sodic,
- Mohamed Mohamed Farid, Deputy Chairman of Oriental Weavers Group.
Global Smart Vision:
Mr. Abou El Enein praised the role of the Ministry of Housing, pointing out that the Minister of Housing has an urban vision for the housing system in Egypt during the coming years. He described it as a global smart vision, and the Housing Minister is making great efforts in facilitating all the procedures, stressing that he applied the scientific planning for all projects implemented by the State.
Abou El Enein added that HE Dr. Madboli and his Ministry deserve thanks for their efforts during the previous period, describing him by a genius Minister for his ambitious visions to be implemented in all governorates of Egypt, as well as responding to the needs of Arab and foreign investors.
The New Investment Law:
Mr. Abou El Enein called HE Dalia Khurshid, Minister of Investment, to fasten the approval of the New Investment law, which can turn Egypt into the largest market for investment in the Arab region, stressing that all investors are waiting for this Law and its facilities.
Mr. Abou El Enein added that SMEs sector contributed significantly to the economic progress in many countries, especially China, Vietnam, Malaysia and most of East Asian countries.
Mr. Abou El Enein explained that determining the future vision of the country is the key point for the economic development plan, so we can know if Egypt is seeking to be mainly and industrialized country or it has a different vision. ? We should select a key point for the development, and we should work on achieving development with clear plans and a specified time frame.
Mr. Abou El Enein stressed that the declaration of future visions to the people and the world contributes to real growth, drives the development plans and identifies the proper investment sectors for foreign and domestic investors.
The Importance of Investment:
Mr. Abou El Enein expressed his happiness for the start of the Conference under the auspices of President Abdel Fattah El-Sisi, saying: “Investment will make Egypt the best market in the Arab region, stressing the need to maximize the value of human and natural resources owned by Egypt, as well as exploiting Egypt’s geographical location and human resources to raise the value added of the state”.
Solving the Investors’ Problems:
Mr. Abou El Enein added that it is necessary to develop a vision for the investment market in Egypt and to solve the problems facing Egyptian and foreign investors.
Investors are awaited:
Mr. Abou El Enein said that there are a huge number of investors wants to invest in Egypt’s real estate, services and industry sectors, but they are waiting for the issuance of the new Investment Law, which would turn Egypt into the best market the Middle East.
Messages for Global Markets:
Mr. Abou El Enein added that Egypt needs to accelerate the activation of the new Investment Law to deliver messages to the world investment market that Egypt is ready to receive all investments, stressing the need to take advantage of the “One-stop Shop” experience to provide small projects for young people.
Egypt is a Global Brand Name:
Mr. Abou El Enein stressed the need to seek in the coming period to make Egypt a “Global Brand Name” to market the Egyptian in global market to raise the profile of its value.