Egypt Committed to Preserving Its Rights in Nile Waters: Aboul Enein

Prominent Businessman Mohamed Aboul Enein, Honorary President of the Euro-Mediterranean Parliament, stressed that since he became president of the Arab investors union, he has sought to gather Arab businessmen and urge them to work for the benefit of the Arab nation and peoples.

In an exclusive interview to the “California Times” Newspaper, Aboul Enein said that the activities of businessmen within the union are various, noting that the entity's major goal is the return of Arab capitals to the Arab nation.

“Even if investment opportunities differ from one Arab country to another, there is a safe place to invest,” he continued.

“Investment opportunities are open to all,” honorary president of Euro-Mediterranean parliament confirmed. “Making the future with the Arab capital is an urgent necessity especially after years of the Arab spring that contributed to the resort of the Arab investors to America, Europe, and the Far East, searching for a rapid gain.”

Moreover, Abul Enein stressed that Egypt should get a large proportion of these investments thanks to the stability and its privileged position and excellent infrastructure.

He also pointed out that investment in industry and agricultural needs a long time to build a strong image of products, adding that the Egyptian product enjoys a lot of advantages in the Arab region and has the ability to enter African markets by virtue of various free trade agreements.

“Africa is the future and most of its cities need huge investments,” the businessman said. “Most of the African presidents encourage entrepreneurs to invest in the black continent and open the door wide to build confidence and attract investors."

Aboul Enein added that it is necessary for Egyptians to create markets in Africa quickly to catch up with major countries that have carved a place in the African market such as China, Japan, India, Brazil and recently Thailand.

He reviewed the difference between long-term investment and rapid investment, noting that there is a strategic goal in long-term ones.

“China draws thoughtful features within the African continent to all landlocked countries to link them to the Silk Road as a way to take advantage of its resources, a matter which prompted other countries such as Japan to establish a TICAD group to enable Japanese companies to be present in Africa, as well as Russia, which will host the 1st Russian-African summit in Sochi this current month,” Aboul Enein explained.

The honorary president of the Euro-Mediterranean parliament praised the Egyptian new investment law and called for the establishment of investment zones of a special nature.

Aboul Enein pointed out that the advantages granted to investors attract investments and contribute to the employment of workers and the transfer of raw materials to value-added products, praising some countries’ policies that offer undeclared advantages to attract the largest proportion of global investments under an integrated tax system.

“The Arab countries need men who believe in the key role of industry in nations' building and their progress,” he added.

Concerning Egypt's strong ties within Africa and the impact of its soft power inside the continent, Abul-Enein said that the historic relations between Egypt and Africa since liberation movements can create a successful African lobby inside the black continent.

In this regard, the businessman praised President Abdel Fattah El Sisi’s initiative to treat one million African citizens for Hepatitis C, noting that Sisi is biased towards Africans.

Regarding Grand Ethiopian Renaissance Dam (GERD) crisis, Aboul Enein stressed that Egypt is committed to preserving its historic rights in the Nile water, noting that any political plan by hostile countries will fail thanks to the Egyptian people's unity.