Egypt: American investors and the Brotherhood

Al-Masry Al-Youm

American investors do not fear the Brotherhood rising to power
Yasmin Karam
By Mohamed Abdel Atty

At their meetings with government officials and business associations over the past two days, a number of American investors said they do not fear the Brotherhood rising to power, but they need to be reassured that the government will continue to adopt policies of free market economy.

They also said the government should continue providing facilities and encouraging foreign investment so that they can fairly face their Asian competitors.

“Irrespective of whether there would be a religious or secular government, what concerns us is the economic policy of that government guaranteeing our investments,” said Kurt Ferguson, president of an American global company.

Steve Farris, head of the American side of the US-Egypt Business Council, said American companies are committed to their expansion plans in Egypt, regardless of the political situation.

On the potential for a free trade agreement between the two countries, Farris said that the situation in the US does not allow the signing of free trade agreements with any country at the moment, "but it is open for discussion."

Farris also said that annulling the contracts of state-owned land that was sold before the revolution should be justified in order to reassure foreign investors.

Gwyneth Barnett, former official of the US Department of Trade, said the US should not allow the Egyptian revolution to fail due to economic problems.

“We should talk to our administration about that,” she said.

Translated from the Arabic Edition

http://www.almasryalyoum.com/en/node/466610