Egyptian economic expert calls for supporting small, medium projects

Egytian economic expert Osama Abdel Khaliq said that the second installment of the IMF loan should be earmarked for spending on the development of medium and microenterprises. He stressed that the loan should be used to achieve serious economic projects not to serve the interests of individuals at the expense of the country.
He added that the government should work seriously to operate closed factories to perform a major role to push forward the country’s economy. He praised the new investment law, saying that it will perform a major role to attract investors from all over the world to work in the country during the coming period. He called the government for taking serious steps to support foreign investors for working the country to improve the economic situation.
He added that the government faces three major challenges to implement this proposal; the first is the citizen living inside the country, as he has the right to buy a car from outside the country with no customs to ensure the equality among all Egyptian citizens.
The second factor, He added, is the current economic conditions witnessed in the country, saying that the current economic position witnessed notable deterioration during the current period. He added that the government also takes into account the local car industry, saying that the government should take the decision supporting the local industry during the current critical conditions.
On the other hand, the Egyptian expert called the Egyptians living outside the country to support the Egyptian economy through buying the Egyptian dollar certificates. He praised the Egyptians who were keen to buy the certificates to support their country's economy.
He added that the law to criminalize the illegal immigration is not enough to eliminate the phenomenon, saying that it is important to improve the economic situation to pave the way for containing such serious phenomenon. He stressed the need for providing more job opportunities to eliminate the unemployment.
He added that the government supports the legal immigration during the coming period, saying that he met with EU Ambassador to Cairo calling him for preparing the Egyptian workers to meet the demands of the European market.