Deputy Chief of Mission at the US embassy in Egypt, Dorothy Shea, said that the embassy discussed with the Egyptian government improving the investment regulatory environment.
“The regulatory framework is one of the main things that the US businesses need to expand. Businessperson have some level of confidence, yet they need a predictable regulatory framework,” Shea told Daily News Egypt.
Some of the new laws do not have implementation regulations yet, which is a very important area, asserted Shea.
“US businesspersons want to make sure that the market is producing the talents that they need, I think this is already there but let’s continue to build on confidence,” said Shea, adding that US businesspersons realising the current improvements in the macroeconomic side of the economy, and the very sound management of the ministry of finance and the Central Bank of Egypt.
Additionally, Shea noted that there were many cooperative agreements that followed the IMF loan, which was agreed upon two years ago, adding that the loan created a very sound environment for businesspersons and encouraged them to invest in the Egyptian economy.