Friday 21 March 2014

Egypt investors believe Sisi presidency will bring stability | GulfNews.com

Egypt investors believe Sisi presidency will bring stability | GulfNews.com:



"Egyptian Army chief Field Marshal Abdel Fattah al-Sisi may not look like a model democrat, but foreign and local businessmen believe he can deliver stability to open up investment opportunities in the most populous Arab nation.



Sisi — whose smiling face, framed in sunglasses and capped by a beret, appears across Egypt on posters, T-shirts and even chocolates — inspires fear in his opponents that the country will soon have a military man as its president once again.



But to investors, and many Egyptians, Sisi offers the hope of relief from three years of political turmoil that began with the Arab Spring uprising, even though he was the man who toppled Egypt’s first freely-elected president, Islamist Mohamed Mursi.



“I think most investors would say it doesn’t appear all that democratic, but it’s more stable, so my investment will be safer,” said Gabriel Sterne of Exotix, a frontier market bank in London which handles investments in Egypt."



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