13 February 2014

Egypt: Trade Minister Meets Amcham Members in Washington for Pushing Up Investment

Minister of Trade and Industry Mounir Fakhri Abdel-Nour expounded the latest developments in Egypt and the government's efforts to attract more foreign investments to members of the American Chamber of Commerce (AmCham) in Washington on Wednesday 12/2/2014.

Abdel-Nour, who is currently visiting Washington said the Egyptian people have fought for sustainable democracy over the past three years starting from the January 25th Revolution.

The Egyptian people have realized after some time that deposed president Mohamed Morsi failed to meet their aspirations and was not trustworthy after having clashed with the judiciary and tried to take full control of power through the infamous constitutional declaration, he said, adding that he also failed to run the economic file in the country.

The new constitution will meet the aspirations of the people and the presidential elections will take place in April, he said, adding that Field Marshal Abdel-Fattah el-Sisi is the luckiest candidate so far given his sweeping popularity.

Egypt will never go back to the former unjust regime as the new constitution limits the authorities of any coming president, he added.

Despite the economic problems that have faced the country over the past few years, yet the current government is working on bringing the budget deficit to 10% down from 13.8% and to reach an inflation rate of 7%, he added.

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