Investment not affected by Alexandria blast, says GAFI chairman

Ahram Online, Saturday 8 Jan 2011

Local as well as foreign investment will not be affected by the Two Saints Church blast that killed 23, says GAFI chairman

Alexandria church
Egyptian Christians touch a blood-splattered image of Jesus Christ, the Two Saints Church in Alexandria (Photo credit: Reuters)

Investment hasn’t been affected by the New Year bomb blast in Alexandria, Osama Saleh, chairman of Egypt's General Authority for Investment (GAFI), said today.

Despite the intensity of grief experienced by Egyptians after the Two Saints Church explosion, "Our economy has proved rigidity and strength in times of crisis," Saleh said in a press release. "The stable economic performance proves the terrorist incident is just episodic and ineffective."

Saleh also added that the rate of establishing new companies remains the same after the New Year's Eve incident. "The rate of newly established companies has increased from 28 companies per day in the week before the blast, to 28.5 in the week after the incident," he added.

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