"The economic reforms recently adopted by the Egyptian government were marked by a clear vision about what is necessary to improve economic performance and overcome obstacles that affected investments in the past few years", said Mark Johnson, an expert in economics at the Euromoney.
Johnson said that the "bold" and "accelerated" steps taken by the Government to realize the reforms strengthen the position of Egypt as a driving force of development and reform in the Arab region. "Egypt has the best opportunities in many economic fields", he added.
According to Johnson, the conference of Euromoney, held mid-September in Cairo, was a good opportunity for large international companies to keep close to the reform program implemented by the government.
"The scenarios and alternative plans proposed by the government, formed only two months ago, to accelerate economic development reflect its intention to follow a clear method to achieve its objectives", he added. "At the same time, the government recognizes the difficulty of its task".
And Johnson to predict that this will encourage the Egyptian government to fulfill its promises regarding the reforms and submit what has been achieved at the next conference of the Euromoney scheduled for September 2005.
As to the impacts of the current situation in the region on the economies of its countries, Johnson find difficult to separate economic development and political situation. "To restore stability in the region, reforms must be taken in the interest of the majority and not the minority". " Almost all the countries in the regions face the same crises and problems", he concluded.