Egypt's richest man on the country's outlook - Your Middle East

Egypt's richest man on the country's outlook - Your Middle East:



"Though Nassef Sawiris predicts Egypt’s turbulence will continue until the summer, he says there are sectors right now that are still attracting investors. 



What is your outlook on the situation in Egypt, and what does it mean for foreign direct investment?



Sawiris: I’m quite positive on Egypt. I think we’re going to have a few more months of turbulence until there is an election and we have a new president and a new parliament. But a timeline has been set for three to four months. I expect that by July all this will be accomplished. And then people will have an address to talk to and all that. So in the short term, these are the next milestones for Egypt. In general, I think the political situation will converge. Obviously there will be some negative implications for some of the court rulings that made the news. What people don’t understand is that, regrettably, the first round of court rulings in Egypt is almost immaterial. It’s such a junior court; it’s almost like a traffic court."



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