"The Egyptian government has committed during the 8th Arab Forum for funding to carry out the necessary measures to achieve economic reform", said Mark Johnson, an official of the institution Euromoney, organizer of the forum.
Johnson precised that the forum has helped to examine the reality of economic situation in the Arab region and the need to pump more investments in this region.
He added that the meeting reviewed the performance of the Arab economy in general and Egypt in particular, in addition to the challenges facing the region, including the financial sector.
He said that the participation of 600 foreign, Arab and Egyptian investors in the forum meetings that lasted two days, reflects a strong desire to learn about the economic situation in Egypt and the Arab world.
And Johnson said that Egypt is the largest market in the Arab world in terms of population. "This is an important market for consumer goods and is eligible for more prosperity, therefore, it is a target for investors."
According to Johnson, the success achieved by the Egyptian private sector in the field of mobile telephony in cooperation with foreign firms, confirms that foreign investors have taken advantage of the stability in Egypt and pumped more investments into the Egyptian market. "A stable political climate in Egypt compared to other countries in the region, helps investors to anticipate their profits."
He added that Euromoney has always followed the development in Egypt. "The publications of the institution have included many articles and surveys to inform investors of developments in Egypt since the early '80s”.
Johnson stressed that the "Euromoney" institution always work to attract international experts and institutions to countries that represent models of successful economic reforms such as Egypt.
Referring to criticisms made by many countries to the dictate of the International Monetary Fund regarding economic reforms, Johnson sees that every country must achieve reform in the way that suits them. "But we can use common features and experiences of others", he said. “Euromoney does not seek to dictate to a country a specific reform program”.
Concerning the effect of the international situation on the influx of investment into the region, Johnson finds it impossible to isolate the two subjects. "The tense situation in the Middle East, as is the case today in Iraq and the Palestinian territories, affects the volume of investment, particularly in the stock market", he said. "The business sector always seeks a balance between the volume of investment and earnings potential”.
Euromoney is a publishing house founded in 1968 in London. It is specialized in the field of finance and economy. It publishes the magazine "Euromoney" which has become widely respected in the European financial markets.
In 1997, Euromoney bought the American magazine "Institutional Investor". It presently has over 100 publications areas of business, finance, Internet law, and pharmaceuticals.