Sisi's image, seen on various items across Egypt, instills fear in his opponents who worry about the return of a military leader as president. However, to investors and many Egyptians, Sisi represents a chance for stability after years of political unrest following the Arab Spring. Although he removed Egypt's first freely-elected president, Mohamed Mursi, Sisi is seen as a potential solution to the country's economic challenges. Despite concerns about the democratic process, investors believe that Sisi's leadership will bring stability to the country. Sisi's popularity suggests he will likely run and win in the upcoming presidential elections. His reputation as a decisive leader gives hope to Egyptians for a peaceful and prosperous future. Western investors also see Sisi as a strong and supported leader. Sterne stated that whatever it may be, it signifies stability. Egyptian industry and investment minister Mounir Fakhry Abdel Nour acknowledged that Western governments may be cautious of President Sisi's transition from military attire to a business suit, but he believes that investors will appreciate this change. He emphasized that in the West, the election of a military officer as the leader of a developing country may raise concerns of dictatorship rather than reform. However, he believes that the current state of the country requires a strong leader to maintain law and order, which is essential for investment and economic growth. He made these statements at Cairo's historic stock exchange. Throughout history, generals who have entered politics have been viewed differently, with George Washington being widely regarded as a statesman. Augusto Pinochet, a powerful leader who took control of Chile in 1973, implemented economic reforms but faced allegations of severe human rights violations during his rule. Security forces cracked down on pro-Brotherhood activists in Egypt protesting the overthrow of Mursi, suppressing the Islamist movement through restrictions on dissent and public gatherings. Despite ongoing challenges in the Egyptian economy such as high debt and political instability, significant financial assistance from Gulf allies has bolstered infrastructure development and allowed for economic reforms. Household spending in Egypt has increased, and there have been notable investments from companies like Samsung and Coca-Cola. Foreign direct investment in Egypt saw a slight increase last year, but overall remains sluggish. In the year ending June 2013, FDI amounted to $3 billion in Egypt, which was $1 billion less than the previous year when the country was experiencing turmoil. Prior to the 2011 revolution that ousted President Hosni Mubarak, Egypt was attracting an average of $8 billion in net FDI annually. The stock market in Egypt is currently performing well, and the global economy is in better shape than during Mubarak's rule, which should create a more favorable environment for investment under President Sisi. However, concerns have been raised about Sisi retaining officials and policies from the Mubarak era, which could hinder economic growth and increase financial vulnerabilities. Despite Sisi's frequent appearances on television, he has not provided much detail on his economic policies, other than acknowledging the challenging economic conditions in a recent speech. He discussed the issue of fuel subsidies costing the government $15 billion annually, a fifth of the state budget, with no clear solution in mind. These subsidies have been in place for fifty years, draining foreign currency that could be used to pay off debts to overseas energy companies and improve payment terms to encourage investment. Investment minister Abdel Nour suggested that President Sisi might be able to use his popularity to handle public backlash from potential subsidy cuts. Additionally, a Dubai firm signed a $40 billion deal to build homes in Egypt, indicating possible politically-motivated Gulf investment in the country's infrastructure. Western investors, concerned about violence in Egypt, are more cautious and have a short-term outlook compared to Gulf investors. The influx of Gulf money into Egypt has prompted Western investors to reconsider, but opinions are divided on whether an IMF loan demanding tough budget reforms is the solution. Legal barriers, rather than a binding international agreement to address corruption and subsidies, may be hindering Western companies from investing in Egypt. Moheb Malak, an economist based in Cairo at Prime Securities, stated that legislation is as crucial as subsidy reform, even though it is not receiving much attention. A proposed investment law seeks to protect contracts between the government and investors from third-party challenges in order to encourage investment. These clauses aim to provide assurance to investors who have been unsettled by previous legal disputes, some of which have left companies sold by the government in legal uncertainty. Malak emphasized that Egypt requires more than just a strong leader, but also significant changes to its investment policy.