Microsoft founder, Bill Gates, invests $1 Billion in the largest Egyptian construction company.
Political Security means greater stability which in return results in more investments. Following the 30th of June revolution, in 2013, Egyptians succeeded in removing the dominant role of religious fascism being represented by the Muslim Brotherhood terrorist group and their candidate, Mohamed Morsy, who passed away this month.
Many challenges have been overcome during the last 5 years, especially after the Egyptian president, Abdul Fatah el Sissy, took over the rule of the country officially in 2014, following people’s demands, from all over the country, asking him to nominate himself in the presidential elections, which he did, and which he went on to win.
The security situation now, after almost 6 years, is totally different. A fact which is reflected very clearly in the growing tourism and investment sectors. According to official reports, Bloomberg predicted that the Egyptian economy, in terms of its expected size of about $8.2 trillion, would be growing ahead of Russia, Japan, and Germany in the next decade. According to the Bloomberg report, Egypt’s economy will be ranked seventh largest by 2030, with a size of $8.2 trillion, followed by the Russian economy with $7.9 trillion, then Japan’s with $7.2 trillion. The German economy is expected to be ranked tenth with $6.9 trillion.
The secure economic situation in Egypt has resulted in attracting more investments from all over the world. Lately this had become more obvious with a deal worth $1 Billion being made by Bill Gates, the second richest man on earth, who has invested in the Biggest construction company in Egypt “Orascom”. The deal will absorb all local stock and global depository receipts of Orascom construction under a share exchange offer that has attracted more than $2 Billion in commitments. The company is relocating from The Egyptian capital to Amsterdam, and its shares will be traded in both locations.
