ACA chairman lauds economic reforms adopted by Sisi

CAIRO - 21 February 2018: With the people's support, President Abdel Fatah al-Sisi has adopted an ambitious economic reform program with the aim to build a better future for the coming generations, said Mohamed Erfan, chairman of the Administrative Control Authority, Wednesday.

Indeed, sacrifices have been made in the process, Erfan acknowledged as he addressed a ceremony marking the inauguration of an investor service center, the first in Egypt.

The country had to deal with the outcome of decades of bureaucracy and archaic laws that were used by some - whether with good or bad intentions - to cast doubt on any serious investor wishing to establish successful projects, Erfan said.

But president Sisi insisted on a "comprehensive confrontation ... with the aim to break the stalemate ... and support every step that would give hope to Egyptians," he noted.

Erfan talked about a strong infrastructure and competitive currency, assuring that the funding deficit is subsiding and the investment climate is safe and encouraging.