Egypt may delay donors conference
President Abdel Fatah al-Sisi meet Saudi Arabian King Abdullah bin Abdul Aziz - YOUM7 (Archive)

CAIRO: The Egyptian government is considering to move a proposed donors’ conference to the end of 2014, instead of following Eid al-Fitr, an official inside the investment ministry told Shorouq newspaper Saturday.

The source said this shift would provide the ministry with time to draft an inclusive economic program to attract foreign investments.

Saudi King Abdullah bin Abdul Aziz, who came to Egypt yesterday in a brief visit, had called after the win of Abdel Fatah al-Sisi of the presidential elections to convene a conference for donors to boost the Egyptian economy.

Economics professor and the former head of Sadat Academy Fathy Abdel Azeem told The Cairo Post Saturday that it is not in Egypt’s interest to postpone the conference.

“It’s the best time to start showing the investments opportunities exist in Egypt,” Abdel Azeem added.

Abdel Azeem added that the government should “leap at the chance” until it elects a new parliament, scheduled to be elected in mid-July.

However, he said the success of the conference depends on the Saudi Arabia, which had called for the conference, and should encourage participation from other countries.

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