Egypt’s former prime minister Ibrahim Mahlab called on Tuesday on French businessmen to invest in the country, especially in the tourism industry, and called on French citizens to visit the country.
“[Egypt] is close to France, it has beautiful weather, unique beaches, and there are no obstacles for tourists to visit the country, enjoy its beaches and [take advantage] of its affordable prices,” Mahlab said in a speech at an economic conference hosted by Egypt's weekly French newspaper Ahram Hebdo in partnership with the French Chamber of Commerce and Industry and the French embassy in Cairo.
Mahlab also pointed to a number of factors that can increase the allure of Egypt to investors, as it is a “meeting point between Africa, Asia and Europe, with trained and affordable labour, [and has sound] infrastructure.”
He also mentioned recent measures taken by the country to prevent bureaucracy from hindering foreign investments.
The number of tourists coming to Egypt dropped by 50 percent in the first half of 2016 compared to the same period last year, according to figures from Egypt's Tourism Authority, after the October crash of a Russian airliner in Sinai that killed all 224 people on board.