Bureaucracy cripples investment

Chairman of the Board of Weather Investments Naguib Sawiris has argued that bureaucracy is one of Egypt's main problems that hinder economic growth and cripple investment.
Speaking at the Egypt Economic Development Conference on Saturday, the Egyptian tycoon said that many ministers are very successful, yet they are restrained by ineffective policies inherited from previous governments.
The three-day conference kicked off on Friday in Sharm el Sheikh with some 2,000 government officials, and businessmen from 121 countries in attendance.
Source: MENA