Egypt is focused on restoring the confidence of investors. That was the message stressed by President Abdel Fattah El Sisi in an interview that was the centerpiece of the Oxford Business Group’s report on Egypt (paywall) which came out yesterday. El Sisi reiterated that partnership with the private sector is key to sustainable economic growth and social welfare, and that the government is pressing forward with reforms to investment policy to encourage that partnership. He cites the creation of the Supreme Investment Council and the new Investment Act as examples of these reforms. The president also points to mega-projects as a key driver of FDI, especially in the Suez Canal area.

El Sisi views reducing Egypt’s reliance on foreign aid as crucial for sustainable growth. To achieve this, the government has channelled investments towards key development projects, enhanced security at airports and other tourist installations to revive the sector, and has adopted a policy to grow SMEs, including an EGP 200 bn SME financing initiative.

The most crucial challenge to attracting investors remains security, said the President, where his administration is working on the ground and with the international community. Long term, El Sisi believes that root causes of terrorism need to be addressed from economic, social, cultural and religious angles. Other key challenges include corruption, excessive red tape. “We are seeking to further streamline bureaucratic procedures and implement a mechanism to swiftly resolve investment disputes, listen closely to the concerns of foreign investors and take the necessary measures to dispel them,” he said. El Sisi expressed hope that these efforts are bearing fruit, citing the confidence of international lenders such as the IMF and improvements in FDI.

The report says it includes a series of interviews with other government officials and business leaders, all of which rest behind a paywall. Among them: Administrative Capital for Urban Development Company CEO Ayman Ismail, Suez Canal Economic Zone chairman Ahmed Darwish, Fawry CEO Ashraf Sabry, and Rashidi El Mizan managing director Ahmed El Rashidi.