Egypt prepares for int’l economic conference in 2016: Youm7
Egypt Economic Development Conference - Wires

CAIRO: Egypt is preparing for an international economic conference to attract foreign investments, a government source told Youm7 Sunday.

The Investment Ministry and the International Cooperation Ministry are planning to provide a platform for all Egyptian sectors to present investment opportunities at the conference.

A date for the conference has not been determined, but meetings are ongoing to discuss means to organize it like the March Egypt Economic Development Conference (EEDC) in Sharm el-Sheikh.

The conference will most probably be held in Sharm el-Sheikh, the source said, adding that a large number of presidents and CEOs will be invited.

A total of 40 agreements and memorandums of understanding (MOUs) with estimated investments of $162.9 billion were signed during the EEDC.

The electricity sector claimed the lion’s share with 15 agreements, the oil sector gained five, the housing sectors attracted six agreements and the transportation sectors acquired six agreements.

Then-Prime Minister Ibrahim Mahlab said in his final speech at the EEDC that Egypt aims to arrange the EEDC on yearly basis to also be a platform to African and Middle Eastern countries to attract foreign investments into their states.

Additional reporting by Hend Mokhtar.

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