Mostafa Madbouly, the Egyptian Prime Minister, inaugurates the fourth session of the Egypt Investment Forum under the title «Together to Africa», as the first economic activities of the presidency of Egypt for the African Union, which coincides with the convening of boards of directors and committees of the Federation of African and Arab, Islamic and Mediterranean chambers and Joint Chambers in more than 30 countries and the presence of more than 1000 chambers, In the presence of more than 1000 Chambers leaders, businessmen, and African, Arab and foreign dignitaries.
Ahmed El-Wakil, the head of the Federation of Egyptian, African and Mediterranean Chambers of Commerce, stressed that "the forum will focus on activating the trilateral cooperation by forming alliances that combine Egyptian companies with investors from the Gulf countries and technology suppliers from the developed countries, both in industrial and agricultural investment or in the infrastructure of the electricity, roads, telecommunications or services of education, training and health."
El Wakil explained that "the development projects of economic feasibility have been limited, as the alliances will be promoted to bring together Egyptian companies, Gulf investors, technology providers, finance bodies, banks and development funds during the forum."
Mr. Mohamad Abdo Saeed, the President of the Union of Arab Chambers noted that "all Arab chambers will cooperate with Egypt during its presidency of the African Union for the advancement of the African continent, which is the continent of the future, and the land of the promising opportunities. These opportunities must be transformed into real wealth for the benefit of the African citizen first and the Arab second," pointing to "the need to combine all efforts, whether governmental or private sector to achieve the development."
Mr. Abdo Saeed explained that "the Arab world has invested more than $23.150 billion outside the Arab world in 2017, exceeding its cumulative foreign investment of more than $14 trillion." He added: "It is time to direct a significant part of these investments to Africa through the trilateral cooperation with Egypt."
Source (FEDCOC, Edited)
