Aboul Enein Outlines Roadmap to Overcome Post-Corona Phase

Prominent Egyptian businessman and MP Mohammed Aboul Enein stressed that the Egyptian economy will overcome Coronavirus crisis, thanks to economic reforms and the political leadership proactive steps.

In his exclusive interview with "The Economist" Egyptian newspaper, Aboul Enein added that many international institutions including Standard and Poor's (S&P) expect Egypt to be the sole nation across the world to achieve positive economic growth rate amid the outbreak of the novel coronavirus pandemic that has considerable impact on the global economy.

Post-Coronavirus phase

The lawmaker affirmed that the post-coronavirus phase is the most dangerous, thus, the state should be ready via setting future plans to overcome this crisis.

He presents an economic roadmap for Egypt to overcome post- coronavirus phase challenges including:

• Issuing quick and bold decisions to reduce production and investment costs, and laying out a plan to deepen industrial production.

 

• Reducing transportation, labor, social security, and industrial land costs

 

• Activating the industrial licensing law and abolishing real estate taxes on factories to raise the competitiveness of the industry and increase Egypt's attractiveness in the global investment market.

 

• Adopting policies and incentives that lead to the localization of the industrial revolution technologies in Egypt.

 

• Suez Canal Economic Zone law must regain its advantages and incentives

 

• New policies are needed to create productive specialization and localize industries in the governorates

 

• Entrepreneurship in the technology of the 4th Industrial Revolution should be encouraged and young people should be qualified for future industries.

It is worth mentioning that, Aboul Enein is a high-profile industrialist with a great economic mindset, the founder of the “Cleopatra” group, which is considered one of the 4 most important industrial and economic edifices in the whole world. His products are exported to more than 110 countries around the world.

He also won dozens of international awards from Japan, America, and Italy.

Aboul Enein is a prominent politician and a patriotic man.. When it comes to Egypt, you find him in the first rows as a fighter, warrior and defender, sacrificing his life for the sake of his homeland.

Lately, he donated EGP 78 million to back the state’s efforts in confronting emerging coronavirus crisis.