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Disney in Egypt important message to attract investors: Investment minister - Daily News Egypt

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Disney in Egypt important message to attract investors: Investment minister

Presence of Disney live shows in Egypt is important message for investors that Egypt is safe and stable, says Salman

Photo from Disney Live! Mickey's Magic Show
Photo from Disney Live! Mickey’s Magic Show

Disney live shows in Egypt sends an important message to domestic and international investors to Egypt that the country is safe and stable for investments, according to Investment Minister Ashraf Salman.

Salman added that the shows are particularly important for tourism investments, confirming that tourism sector revenues contribute 3.2% of the GDP and employs approximately 12.6% of Egyptian labour.

In a Tuesday press conference launching Disney World activities in Egypt, Salman confirmed that the Egyptian economy’s performance has improved, according to preliminary figures for the fiscal year (FY) 2014/2015. He added that the Ministry of Investment is working on the promotion of investments in various sectors.

Horacio Renna, Vice President, Feld Entertainment Europe, Middle East & Africa, Deputy Assistant of Foreign Minister for North America Affairs Ambassador Suha El-Gendy, representatives of US Embassy in Cairo and representatives of the ministries of Tourism and Investment, attended the conference.

Renna said the presence of Disney shows in Egypt 10 years after the last show is important for the company, and confirmed that Egypt is one of Disney’s priority countries.

Salman said the government seeks to promote investments at various levels through foreign and Arab delegation visits to Egypt, coordination with international companies and the hosting of international conferences.

An investment conference will be held in Egypt in December, to attract businessmen and investors, and will be organised by industrial and commercial entities, Salman said.

 “Common Market for Eastern and Southern Africa (COMESA) and Southern African Development Community (SADC) will participate in the conference,” he added. “These companies represent a common market for 26 African countries with about 620 million consumers, which represent 58% of the size of the African continent population.”

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