Egypt’s effort to revive its stagnant energy industry has attracted billions of dollars in new investment recently, but the country still has to address bureaucratic and legal hurdles before it becomes an attractive business hub, some executives say. “Egypt is a good place to invest because the best time to invest in a country or in a project is when you are at the bottom of the investment cycle…but there is a need to reduce bureaucracy and red tape,” said Patrick Allman-Ward, the chief executive of Dana Gas, an energy firm based in the United Arab Emirates that operates in Egypt. Foreign energy companies operating in Egypt are also facing a situation in which state-owned companies are acting as partners and regulators at the same time, Mr. Ward said.

Source: WSJ, 20/03/2015