American Investors: We Have No Fear of the Muslim Brotherhood

Head of the American Egyptian Business Council, Steve Farris, stressed that American investors have no fear of the Muslim Brotherhood in particular; as the issue that is most important is having a policy for attracting foreign investment in general. He added by saying: "The religious tendency in Iran does not prevent investment in that country; the important thing is having the partners, the laws, the legislation and the positive investment climate in general." 

On the sidelines of the meeting of the American Egyptian Business Council with the Council of the Egyptian Federation of Industries at the latter’s headquarters, Farris said that US investors are not concerned whether the Egyptian government was religious or non-religious, as the important thing is the policies that should be in place for attracting investment, with a road map for investment so that investments would not go astray. 

He pointed out that there are a lot of US companies looking forward to the role of the American Egyptian Business Council, while waiting for an opportunity to work in Egypt as long as the economic policies are positive and assuming a very positive vision for the future. He kept stressing that investments will double in the future. 

With regard to the possibility of reviewing the interruption witnessed regarding the signing of the "free trade zone" agreement between Egypt and America, the head of the American Egyptian Business Council affirmed that there is a genuine desire from the American side to continue the debate and discussions regarding the signing of that agreement. 

Farris also said that there is a belief in the need for such an agreement to remove the trade barriers between the two sides, pointing to a study being done by the Council to develop a road map for investment and trade in Egypt, yet he said that due to the economic situation in the US, which is critical now, we would postpone the conclusion of such agreements. He further stated: “But the study is being conducted in Washington, and will be submitted to the US administration in the hope that the administration will adopt it towards the implementation of this agreement."