Why Egypt isn’t open for business

EGYPTIANS OFTEN complain that their country produces little of value. Juhayna, the country’s largest dairy and juice maker, has been a notable exception. Its red and blue cartons are a staple in Egyptian homes. Its milk and yogurt are sold across the Middle East and Africa. It is one of the most valuable companies on Cairo’s stock exchange and a darling of foreign investors. In most countries it would be considered a national champion. But under Egypt’s military rulers it has faced a Mafia-style shakedown. Its fate illustrates the flaws of the Egyptian economy.Juhayna’s troubles began when the Egyptian state decided to take it over. After its founder, Safwan Thabet, refused to hand over a controlling stake, he was thrown into a prison notorious for torture. When his son, Seif, refused the same deal, he joined his father in jail.