Investors: Constitutional amendments enhance competitiveness of Egyptian economy

During the dialogue held by the Trade Chamber Union, chaired by Chief of Industry Committee in the People's Assembly Mohamed Abul Eniein, many investors agree that the constitutional amendments would increase the competitive capabilities of the Egyptian economy toward attracting more investment.

Abul-Enein confirmed that the constitutional amendments would positively affect political, economic and social fields in Egypt as well as the climate of investment and the sector of industry.

He added that the proposals of President Mubarak concerning the development of the local administration system and boosting its executive competencies and the right implementation of decentralization would reflect on production and investment.

Abul-Enein also indicated that the new constitutional orientation by specifying no economic system opens the door before competition between the parties regarding their economic programs in the elections given that the elector would specify the economic orientation he likes.

He said boosting the Judicial, the Executive and the Legislative would help realize a healthy democratic climate. He also noted that granting the People's Assembly the right to amend the State's Budget is an important issue.

In this respect, the activation of the Shura Council role gives the greater chance to discuss the State's budget thoroughly.

On the other hand, the investors denied that the objective of the proposed amendments is to boost the private sector role at the expense of the largest category of the community.

They confirmed that the amendments would boost stability and allow for greater opportunities for investment for all the industrial sectors.



MODERNIZING THE CONSTITUTION OF EGYPT UP