“Egypt enjoys some of the highest returns on investment in the world,” says Egyptian businessman Naguib Sawiris, chairman of Orascom Telecom Media and Technology (OTMT).

Sawiris, in a video posted by Ministry of Investment and International Cooperation, encouraged his domestic peers to invest at home, saying “now is the best time” to invest in the country.

The billionaire, who Forbes ranks as the second richest man in Egypt with a net worth of USD 4.1 bn, said many developments took place recently in Egypt such as road infrastructure and energy stations projects, which improved the country’s business climate.

Sawiris also applauded recent legislative reforms such as the new investment law which aims to eliminate bureaucratic obstacles for businesses.