The Muslim Brotherhood is working to attract foreign investment in Egypt and revitalize Egyptian companies operating overseas as part of a plan to establish the movement’s political and economic credentials.
The move is intended to generate revenue through the creation of opportunities for Egyptian companies abroad and to raise employment among expatriate Egyptians.
An official source from the group said these efforts are an attempt to show that the Freedom and Justice Party, the Brotherhood’s political wing, deserved to win a majority of seats in the parliamentary elections. Further, the Brotherhood hopes that the focus on economic initiatives will alleviate concerns over the group’s intentions and lay the groundwork for a comprehensive “renaissance project” that the group has had in the works for some time.
The project consists of both short and long-term goals for Egypt, including improving education programs, dealing with health problems among the population and bolstering the economy.
A Brotherhood source said that Khairat al-Shater, a deputy to Supreme Guide Mohamed Badie, is in charge of the renaissance project. The source reports that a large budget has been allocated to the project.
Shater sought the help of advisers from Turkey, Malaysia, South Africa and Singapore, in addition to Egyptian experts, in developing the project. The source said Shater intends to capitalize on Singapore’s experience in improving its administration, South Africa’s experience in creating a national dialogue, and Turkey and Malaysia’s experience in encouraging investment, achieving development and improving their educational systems and economies.
Shater returned on Thursday from Turkey, following a round of negotiations which he described as successful. He discussed opportunities for investment in Egypt with Turkish investors, pledging to provide guarantees for the protection of investments.
Shater has also been communicating with Muslim Brotherhood members in the Libyan National Transitional Council in an attempt to secure work opportunities for Egyptians in Libya’s reconstruction projects, according to the Brotherhood source.
The source added that Shater is also seeking to revitalize Egyptian investments in Sudan and create new opportunities in Sudan, Tunisia and Morocco.
Translated from Al-Masry Al-Youm
