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22 Jul 2019

The Ministry of Investment and International Cooperation Presents Investment Opportunities to VIP in Tourism Sector

Investors: investment climate improvement and promising investment opportunities in tourism.. Encouraging us to pump new investments in this sector during the coming period.

Dr. Sahar Nasr: The Ministry coordinates with all Ministries regarding investment opportunities and solving any problem facing investors.

Monitoring all new companies established by the Investors Services Center to follow up on the progress of their investments and help them in case of any challenge.

Kamel Abu Ali: The state's decision to give the private sector freedom to increase its investments is great. Mounir Ghabbour‬‏ praises the speed of completing procedures at the Investors Services Center (ISC).

The Minister of Investment and International Cooperation Dr. Sahar Nasr met with a number of VIP in the tourism sector, in the presence of Executive Vice President of GAFI, Advisor Mohamed Abdel Wahab, Senior Advisor to the Minister Mr. Moataz Yakan, Advisor to the Minister for investment promotion Mr. Malek Fawaz, Advisor to the Minister Mr. Amr Shams, and Head of the ISC sector Mr. Yasser Abbas.

The meeting was attended by the Head of Tourism Development Authority (TDA) Mr. Serag Saad, President of the Egyptian Federation of Tourism Chambers Mr. Ahmed Al Waseef, Mr. Sameh Howedaa, Vice President of the Tourism Investment Association Mr. Tamer Makram, Chairman of Albatros Tourism Group Mr. Kamel Abu Ali, Chairman of Sakkara Tourism Investment Co. Mr. Mounir Ghabbour, Chairman of Bright Sky Tourism Co. Mr. Hossam Al Shaer, Managing Director of Travco Group Mr. Nabil Rashdan, Owner of L'Oreal Hotels in Sharm El Sheikh Mr. Nader Ali.

The meeting discussed the investment opportunities in the tourism sector included in Egypt's Investment Map, the investors' demands regarding improving the investment climate in tourism sector, solving the problems facing them within the framework of Ministry of Investment and International Cooperation and its role in coordination with various Ministries and entities; in addition to the role of Investment Disputes Committee.

The Minister stressed that the Ministry meets all investors in various sectors and concerned to meet with investors in the tourism sector to present them new investment opportunities in this sector.

The Minister also declared that the Ministry is coordinating with all Ministries regarding investment opportunities and solving any problem facing investors, pointing out that the state supporting the private sector participation and the increase of its investments in Egypt.

The Minister said that the Ministry is conducting a monthly survey on the problems facing the investor to solve them immediately.

The Minister pointed out that ISC includes representatives of 66 entities where all investor services are completed through the center. The Ministry started to monitor all new companies established in the center to follow up on the progress of their investments and help them in case of any challenge.

During the meeting, tourism investors listened to an explanation from Advisor to the Minister for Investment Promotion Mr. Malek Fawaz about the investment opportunities shown in Egypt's Tourism Investment Map, including investment opportunities in the Grand Egyptian Museum and Hadabet El Galala.

Tourism investors praised efforts exerted by Ministry of Investment and International Cooperation in improving the investment climate and the promising investment opportunities in the tourism sector, which encourage them to pump new investments in this sector during the coming period.

Chairman of Albatros Tourism Group Mr. Kamel Abu Ali said that the state's decision to give the private sector freedom to increase its investments is great, stressing that tourism investors are increasing their investments in Egypt. Chairman of Tourism Investments Co. Mr. Mounir Ghabbour praised the level of services provided by ISC and the speed of completing procedures.