Egypt is on track for increased political stability, making it a good opportunity for potential investors, Egypt's foreign minister Nabil Fahmy told CNBC.
Since Egypt's first democratically elected president, Mohammad Morsi, was toppled by the army in July this year, the country has seen continued clashes, as Morsi supporters rally for his reinstatement. But Egypt's volatile political environment has discouraged potential investors -- at a time when the country needs it most.
(Read more: Egypt to use Gulf billions to spur economy)
Egypt has high fiscal and public deficits, rising to nearly 100 percent of its gross domestic product at the end of June this year, according to the World Bank. The country's unemployment rate stood at 13 percent in June this year and crucially three-quarters of the unemployed are between 15 and 29 years of age. Egypt's high youth employment rate also weighs on social tensions.
But the country's foreign minister believes the growing young population is an asset for attracting potential investors. He said: "over 60 percent are less than 30 [years old]." This constitutes a "huge productive force for the generation to come and a huge retail demand for whatever you produce."
(Read more: Egypt fights to rekindle economy with rate cuts)
Fahmy believes increased investment is what's needed to turn Egypt's economy around. In an interview with CNBC he urged the private sector to "invest, invest, invest."