Trump’s next step is to open North Korea’s economy: billionaire Naguib Sawiris
Orascom TMT Investments' Naguib Sawiris on the potential impact of the North Korea summit on the country's economy and global investors.
Egyptian billionaire Naguib Sawiris made a case for investment in North Korea after President Trump’s historic summit with Kim Jong Un.
“The next step is now watching the economy,” Sawiris told FOX Business’ Maria Bartiromo on “Mornings with Maria” on Tuesday. “I think the United States [should] start to try, and South Korea, too to try to start opening up the economy of this country, doing some investments, improving the lives of the North Koreans.”
Sawiris, the son of Orascom Construction founder Onsi Sawiris, built a fortune with his company Orascom Telecom Media and Technology Holding. He entered North Korea in 2009 and helped build its communication networks.
Moneywise, the company hasn’t thrived there, but Sawiris is now optimistic.
“Financially … it’s not been the greatest investment,” he said. “If the economy starts pouring in and investments come in and … the sanctions are lifted … that will be my day.”