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FINANCIAL NEWS
Sawiris family set to make their biggest investment in Egypt
16 Jul 2013
(MENAFN) Egyptian Sawiris brothers, who control Orascom corporate empire, are set to make their largest ever investment in their homeland, Reuters reported.
Sawiris, a prominent Christian who was an outspoken critic of President Mohamed Mursi, said the the Islamist leader’s government had sought to co-opt executives or, as in his case because he was in opposition, hit his family businesses with exceptional taxes.
Naguib Sawiris, the eldest of three brothers, said that the Orascom group of companies is one of the biggest private sector employers in Egypt; providing more than 100,000 Egyptians with jobs.
Such remarks by one of Egypt’s top businessmen could help rebuild confidence in a nation hit by political volatility for two and a half years.
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