Naguib Sawiris’ take on Egypt’s FX-intensive national development strategy is making headlines in the international press, with Reuters reporting that the well-heeled businessman has suggested the government ought to “have a second look” at its mega-projects due to their substantial FX requirements. Speaking at a conference in Abu Dhabi on Wednesday.

Sawiris also pointed out a major business migration trend: About 1.5k Egyptian companies moved their HQs to Abu Dhabi last year alone, according to Sawiris, who also suggested unifying the UAE bourses to encourage more companies to list in the region.

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