In exclusive statements made to Youm 7, former Minister of Petroleum Osama Kamal said that the ideal way of dealing with foreign companies that want to invest in Egypt is that ‘we’ prepare banking feasibility studies in advance. It would be better for the Egyptian government to weigh factors like location, cost, and return on investments than to leave all this to the foreign investor. Otherwise this will remove the state’s role entirely.

Doing this would strengthen the Egyptian hand at the negotiating table and build credibility for the projects in question if financial statements, inputs and outputs, as well as revenue lines were all prepared beforehand, Kamal added.

He went on to say: “Following the economic summit, we must work diligently on these projects. Especially now that investors have become certain that Egypt is a safe and secure country and after seeing how the people have embraced the new administration. What has been called for is professionalism so that all those around us, and those coming here, find the kind of expertise they find in other countries.”

Source: Youm7