Tourism Minister Hesham Zaazou said that there is a new plan under consideration, aiming to attract foreign investments to the tourism sector, which will be implemented in the beginning of 2014.
Zaazou explained that Egypt’s strategy to bring in investment would be changed from a ‘sit-and-wait approach’ to ‘go-out-and-get’.
The plan entails the appointment of Dr. Ibrahim Al-Ashmawi as Zaazou’s adviser to work towaards promotion and marketing of investment opportunities in international markets and exhibitions.
Russia will be one of the most important countries in the approach, according to the minister, especially since it already has investments in the Egyptian and Arab tourism sector.
Zaazou stressed that the referendum on the newly amended constitution will have an important role in attracting investment, as it will insure democratic stability in the country, and reassure investors about the business and tourism atmosphere in Egypt.
Source: Al-Masry Al-Youm
