Shell acquires 17% of Egyptian market

Despite the harsh global economic conditions and the hardships Egypt is going through, we need to focus on the positives, says managing director of Shell Lubricants Egypt Saher Hashem. His company has begun implementation of a plan for the development of the company’s Egypt plant to increase its production capacity.

In an interview with Daily News Egypt, Hasem said there is great potential for the growth of the automotive oils market in Egypt.

What is your assessment of the investment climate in Egypt?

The investment climate in Egypt needs to speed up procedures, particularly with regards to the issuance of licences to engage in certain activities. Time is a crucial factor in making investment decisions. We also need to increase the ratio of local components in the production processes. Moreover, investment requires a clear vision of fiscal and monetary policy, upon which investors will put their investment plans. Sudden or big deviations represent a major threat to any investment projects. We need, in Egypt, to look at the positive aspects that occur and to not indulge in the negatives, as grants may come through despite the adversity. Focusing on the pros could be a strong and effective incentive for the treatment of negatives.