Sisi follows up preparations for March Economic Summit
President Abdel Fatah al-Sisi met with Prime Minister Ibrahim Mahlab - Photo courtesy of presidential office

CAIRO: President Abdel Fatah al-Sisi met with Prime Minister Ibrahim Mahlab Saturday to review ongoing preparations for the Egypt Economic Development Conference scheduled to take place in Sharm el-Sheikh March 13-15, according to a presidency statement.

Minister of International Cooperation Naglaa  al-Ahwany and the Minister of Investment Ashraf Salman also attended the meeting.

During the meeting, Ahwany presented a brief on the substantive and organizational aspects related to the conference, Presidency Spokesman Ambassador Alaa Youssef stated.

“The conference aims to consolidate Egypt’s progress in economic and social reforms, establishing it once more as a target for foreign investment,” Ahwany said according to the statement.

She added that the conference also seeks to assure investors that Egypt has overcome difficult circumstances triggered by the political turmoil following the January 25 Revolution in 2011, which dramatically affected FDI.

According to the statement, the conference would be divided into a number of plenary sessions, which will present the government’s economic vision until 2030, as well as its five-year plan for economic and social reform.

A number of ministries will present their future plans and investment opportunities, including a number of projects in vital sectors during cross-sector sessions.

The projects that will be offered at the conference include 22 government projects, seven private sector projects and seven public private partnerships (PPP), added Ahwany.

For his part, Minister of Investment briefed the meeting on concluding feasibility studies for the projects that will be presented during the conference. Contracting procedures have been streamlined to allow for the swift implementation of the projects.

“Top priority accorded to the Suez Canal development project,” said Salaman, the statement read, noting that the projects’ master plan will be presented at a plenary. Further, four workshops are designated for sectoral projects to be implemented in the Suez Canal region.

“Increasing investment flows to Egypt would have a direct positive bearing on employment levels,” the president said, stressing on the need to follow up on the conference outcomes.

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