28 November 2012

Egypt: Morsi - No One to Be Excluded, Nation Reaches Out to All

Amid growing momentum in the political arena, some 50 investors and businessmen traveled to the New Valley, Egypt's largest governorate which constitutes 46% of the country's area.

In spite of its vast area, the New Valley ranks last among Egypt's governorates when it comes to population density. The reason for this is the absence of development projects and job opportunities.

The visit gives a clear message that confirms Egyptians intention to pursuit construction and development. The visitors announced the establishing a holding company for development in New Valley with LE 1 billion in capitals.

The federation of investors' associations will contribute 30% of the funding, while the rest will be funded through initial public offering.

President Mohamed Morsi was keen to send a strong welcome message on the occasion of the visit in which he confirmed that Egypt extends its arms to all Egyptians for construction and renaissance as well as development.

He confirmed that there will be no exclusion or marginalization of anyone and that the government, the civil society and the public sector are the three axes of Egypt's construction and development.

In his speech, read out by Advisor Mohamed Omran, Morsi said he welcomes the businessmen visit, describing it as extremely important. He said the visit carries a message of insistence on focusing on construction and development.

The President reiterated his keenness to give attention to recommendations made by the businessmen in order to give a push for urban development and boosting investments in the governorate.

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