Live updates: Day 3 of EEDC
President Abdel Fattah al-Sisi smiles as youth take a selfie with him during the closing session of the Egypt Economic Conference held in Sharm al Sheikh in March 2016.

CAIRO: Final day of the Egypt Economic Development Summit kicked off Sunday in Sharm el-Sheikh, with morning sessions including various ministers and industry leaders, and President Sisi is expected to deliver a closing speech at 12:30 p.m. Here are the live updates:

17: 50 – Mahlab: Production, not objection, should be Egyptians’ daily target

17:45 – Mahlab: Egypt air, the media, all Egyptians contributed to the success of the conference

17:42 – Mahlab: $12.5B deposits and investments pledged by gulf states will be used in development project

17:40 – Mahlab: We will create what will later be called “the Egyptian experience”

17: 39 – Mahlab: The stability of the region lies in that of Egypt

17: 37 – Mahlab: Agreements of $36.2B in investment have been signed and financed projects have reached $18.6B

17: 36 – Mahlab thanks Gulf States and Arab countries from supporting Egypt

17: 33 – Prime Minister Ibrahim Mahlab:  We will purge our country from terrorism and will defend our religion

16:55- Sisi leaves Sharm el-Sheikh for Cairo, Mahlab meets with Cabinet in the resort

14:05- Sisi calls on Egyptians to work hard and never underestimate their power, concludes speech and poses for another photo with organizers.



14:00- Egyptians wanted change on Jan. 25 and June 30, and if Egyptians want change again, they will have it: Sisi

 13:59- We need to build new governorates, but this needs more effort and money.

13:57- Sisi calls for an EEDC to be held annually, adding that Sharm el-Sheikh is beautiful, but it’s future is more so.

13:55- Sisi pays tribute to late King Abdullah of Saudi Arabia, who called for the EEDC, followed by applause from audience.

13:55- Sisi: Egypt needs $200-$300 billion to create real hope for its 90 million people.

13:52- Sisi: When someone stands by Egypt, we don’t forget his role.



13:50- Sisi says GE reduced $100 million from cost of its project.

13:50- Sisi thanks General Electric, says 13k mega watt should be pumped in the country’s electricity network in the coming period.

13:48- Sisi thanks Siemens for reducing the cost of its project.



13:45: Sisi: I remind people that Egypt is waking up now, has to quiet those interrupting with shouts of “Long Live Egypt”

13:37- President Sisi takes the stage, receives thunderous applause when he greets the crowd with “Long Live Egypt,” conference organizers flood the stage to take selfies with the President

11:50- Communication Minister Khaled Negm: we have established centers for innovation in most universities

11:30 – Wali:  we need to train youth on entrepreneurship especially at University. We are aware of the challenges, and we know where we are heading.

11:15- Aramex Founder and Vice Chairman Fadi Ghandour: private sector needs to be included in developmental process and the education system in Egypt.

11:12- Naseej Chairman Khalid Abdulla Janahi: Egypt is on the right path, and sustainable development comes through stability, not vice versa.

11:00- Wali: The government realized that most of the subsidies go to the rich, and our role is to support the poor

10:40- Minister of Solidarity Ghada Wali: our constitution has responsibility regarding social inclusion. Growth without inclusion is not sustainable; women, youth and everyone should be included.
10:35- Chairman of Egyptian Exchange Mohamed Omran: According to Morgan Stanley Indices, the Egyptian Market is the highest since June 30, 2013.  13 new companies were listed in the stock market during the last year.
9:15- Minister of Trade and Industry Mounir Fakhry Abdel Nour: We have made institutional reform in the Social Fund for Development. We have provided two projects to urge young people to work and be trained in small and medium enterprises, since training is the key to development in Egypt.
Recommend to friends

Leave a comment