CAIRO: Prime Minister Ibrahim Mahlab announced Saturday in a press conference Egypt’s postponed Economic Summit will be held from March 13-15 in the Red Sea resort of Sharm el-Sheikh.
He noted the government contracted with two international consultancy companies to promote the summit.
The summit was originally scheduled to be held this month after it was called for by Saudi Arabia to support Egypt’s economy following the election of President Abdel Fatah al-Sisi in June, but it was initially delayed to Feb. 21-22, 2015 to drum up donor support before it was held.
However, On Nov. 8, Minister of Finance Hani Kadry announced in a press conference the summit was delayed once more to March, as its original date was just a few days after Chinese New Year on Feb. 19, and many East Asian investors would not have been able to participate.
However, an anonymous source from the Ministry of Investment told Al-Shorouq newspaper on Nov. 10 the reason behind delaying the summit was not the Chinese New Year, but actually upcoming parliament elections. The source added officials hope to carry out elections before holding the summit.
The future summit was originally just called a donor conference, but was renamed “Development Partners Conference,” and then re-titled yet again to its current “Economic Summit.”