By Vin Weber
As the political crisis in Egypt continues to evolve, American and European investors are becoming increasingly troubled by what they see as a lack of legal and regulatory security. Two years ago, the theme was revolution as the heroes of Tahrir Square demonstrated that courage in the face of tyranny could produce societal change. Today, many are shying away from the term "revolution" as the fledgling democracy struggles to implement a new constitution and forge its institutions.
Predictably, investors are taking notice of this unstable political climate. Egypt’s Central Bank recently announced that foreign investors withdrew $5 billion from the country within the last six months. When an Egyptian appeals court annulled the privatization of a textile company on the grounds that the government should never have sold it in the first place, alarms sounded throughout business communities around the world. Not only do investors believe private capital to be under assault butRead More »from Can Egypt Live Without Private Investment?