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Sawiris: We are at the lowest curve since the revolution

Prominent businessman Naguib Sawiris is gravely concerned about Egypt and the crossroads it is at, but also has a lot of hope for the future.
At the annual meeting of the German-Arab Chamber of Industry and Commerce (GACIC), business-man and Chamber President Naguib Sawiris voiced his concern about the turn of events in Egypt – on the political and economic level.

“Egypt urgently needs to find some reasoning and common ground, and this is the job of our new leader,” Sawiris demanded. He believes that democracy does not thrive in poor living conditions, and understands that Egyptians want freedom, dignity and a future that offers some decent prosperity. “The Egyptians know what they want, but they disagree about how they want to achieve it – and even this indictment is an understatement with everything that is going on,” he added.

As the stock market has been negatively active for some weeks now, the Chamber President assured that the Egyptian economy is experiencing domestic recession, and some of the most important reasons for that are the lack of decision-making, and the stalling of good, efficient projects due to endless red tape and discussions. “Of course, foreign and domestic investors are frustrated when they have to face such burdens,” Sawiris explained. “Also, one cannot invest without knowing what the country’s leaders want.”

Naguib Sawiris took Germany as an example of a proactive, efficient, and productive community, where the economy was and is thriving – to say the least – while Germans demonstrated and recently ousted their president. “Europe envies Germany for its economy. The collaboration of hard work and moderate and planned demands in demonstrations helped the country keep the economy flourishing,” he emphasized.

Egypt has all the essential resources for growth: precious minerals, some of the world’s most amazing tourist sites, the Suez Canal etc. “What we lack is the system that enables us to exploit those rich resources for our own benefit,” Sawiris confirmed.
“Despite everything, I remain hopeful about the future. But we need to understand that it will be essential to invest in our young generation,” he concluded.

The GACIC is known for its efforts in creating collaborations and partnerships between Egyptian and German counterparts on various levels. To check out their activities, please visit: