Zazou: New plan to attract foreign investments to Egypt’s tourism sector

CAIRO, Egypt - Tourism Minister Hesham Zazou said that there is a new plan under consideration, aiming to attract foreign investments to the tourism sector, which will be implemented in the beginning

Zazou: New plan to attract foreign investments to Egypt’s tourism sector

CAIRO, Egypt – Tourism Minister Hesham Zazou said that there is a new plan under consideration, aiming to attract foreign investments to the tourism sector, which will be implemented in the beginning of 2014.

Zazou explained that Egypt’s strategy to bring in investment would be changed from a ‘sit-and-wait approach’ to ‘go-out-and-get’.

The plan entails the appointment of Dr. Ibrahim Al-Ashmawi as Zazou’s adviser to work towards promotion and marketing of investment opportunities in international markets and exhibitions.

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Russia will be one of the most important countries in the approach, according to the minister, especially since it already has investments in the Egyptian and Arab tourism sector.

Zazou stressed that the referendum on the newly amended constitution will have an important role in attracting investment, as it will insure democratic stability in the country, and reassure investors about the business and tourism atmosphere in Egypt.

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