Egypts investment minister Ashraf Salman said that he will submit proposals to repeal a law that obstructs private investments, especially in Sharm el-Sheikh. The minister said that he will propose creating a new free-trade zone of a special nature and will be specified in coordination with the South Sinai governorate and presented to the national authority for the Development of the Sinai Peninsula (SDA) to finish all the procedures. Salman revealed that the new unemployment and poverty rates are very alarming; and that the current unemployment rate is 14.3% while poverty rose to 27% following the 2011 revolution. However, he noted that Touristic sector can absorb 3 million laborers. Source: AlMal newspaper & Arab Finance Editor
Posted on: Tue, 09 Sep 2014 06:04:07 +0000
Trending Topics
Recently Viewed Topics
© 2015