Regions

Egypt to see more investments from Billionaire Naguib Sawiris

July 18
4:00 AM 2013

Egypt will be seeing more investments from billionaire Naguib Sawaris. "My family and I will inject investments in Egypt like never before, in any new projects we could invest in," said Sawiris.

The Egyptian billionaire and his family planned to increase the investment they put into the country, according to Reuters. These investments were in the billions of dollars category. The announcement of Sawiris was made after President Mohammed Morsi was ousted last July 3 by the Egyptian military.

"There is no going back from what happened beginning on 30 June, and I am confident that Egypt's temporary government understands its current role and is aware of what its priorities should be in the coming months. This provides us, as investors, with new business opportunities, particularly in the hotel and tourist industries," said Sawiris. "The removal of this fascist regime has led to a nationwide revival, which will lead to increases in rates of tourism, in addition to creating a more enlightened country," he added.

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