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A strong Egypt is good for the region

Mar 15,2015 - Last updated at Mar 15,2015

The Sharm El Sheikh conference on sustainable development in Egypt drew wide support from the international community, especially from the Gulf Arab states, which pledged huge investments in the country, amounting to some $12 billion.

This outpouring of support is meant to both promote stability and development in Egypt and to buttress this Arab country’s central role in the fight against radicalism in the region.

Egypt has historically held pivotal power and clout across the Middle East.

It used to be a pacesetter in many things political and cultural.

However, more recently, due to instability and economic stagnation, Egypt’s regional power has started to wane.

In order to regain its status, the country needs to enjoy political stability and, more importantly, sustainable economic development that would help it tackle its woes, particularly the unemployment rate, which although dropped to 12.9 per cent in the fourth quarter of 2014, from 13.1 per cent in the third quarter of 2014, is still high, particularly when compared to the period between 1993 and 2014, when it averaged 10.63 per cent.

Egypt, this most populous Arab country, has great potential, but for it to be unleashed, it needs to restore security and stability, and secure growth.

Investing in Egypt, therefore, is tantamount to investing in the stability and progress of the Middle East.

Moderation has been Egypt’s hallmark under the leadership of President Abdel Fattah Al Sisi.

The region is rife with extremists, the latest and most vicious Daesh, which controls territory in Syria and Iraq.

A re-energised Egypt bolstered by strong security and economy can do a lot to combat radicalism and help bring stability and progress back to the region.

Sisi has political moderation and economic development at top of his policy’s priorities.

These features are at the foundation of any strong and stable state.

Arab support for Egypt’s quest for prosperity and political stability will be instrumental to bringing this country to the forefront of nations fighting the forces of evil and
destruction.

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