On the occasion of the 3rd Egypt Day Summit launched in Cairo by EFG Hermes, in order to explore means to attract Investments Opportunities in Egypt and discuss the stability of the local economy following the recent reforms, a private meeting was held between Egypt’s President El-Sisi and a delegation of presidents and representatives from a number of major global and regional investment funds, in the presence of the Governor of the Central Bank, and the Minister of Investment and International Cooperation.
During the meeting, El-Sisi, pointed out, “Egypt’s current Investment Climate makes it favorable for attracting foreign investments, as the Country is back to security and economic stability despite the turmoil it has faced over the past years, and because of the abundance of trained manpower, as well as the country’s trade agreements with the African, Arab World and European Union’s Markets. "
El-Sisi also reviewed a couple of reforms and developmental measures adopted by the Government in order to foster investment and remove any barrier that can hinder it, including the following: liberalization of the exchange rate and steady increase in foreign exchange reserves, country’s infrastructure development, extension of the road network, establishment of many cities and new urban communities, achieve surplus in energy reserves, raise efficiency of business companies, encourage local private sector, provide financing for SMEs, and modernize relevant legislative and legal frameworks and systems.
Source: (Al-Sharq Al-Awsat Newspaper, Edited)
