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Egypt to Host Int’l Conference to Encourage African Investment

Egypt to Host Int’l Conference to Encourage African Investment

Saturday, 24 August, 2019 - 12:30
A general view of buildings by the Nile River in Cairo, Egypt July 2, 2019. (Reuters)

The Egyptian government intensified Friday its preparations to host the two-day Invest in Africa 2019 conference, which is set to be held in the New Administrative Capital on November 22.

The conference will be held under the auspices of President Abdel Fattah al-Sisi and will be attended by a number of heads of state and governments and ministers from various African countries.

Egypt’s Minister of Investment and International Cooperation Sahar Nasr said Friday the conference will be organized in cooperation with the Ministries of Foreign Affairs, Trade and Industry.

About 2,000 representatives of Egypt’s development partners, investors and high-level business figures from Egypt, Africa and the world will participate in the conference, Nasr noted, explaining that it aims at encouraging investment in Africa.

Nasr met with Prime Minister Mostafa Madbouly to review the latest preparations and follow up on the development and expansion of free trade and investment zones.

She said that this year’s conference is being held under Sisi’s chairmanship, as president of the African Union, making it a viable platform to mobilize international institutions and the private sector to invest in the continent.

The conference will also include sessions focusing on women and young entrepreneurs, renewable energy projects and information technologies.

Madbouly, for his part, stressed the importance of highlighting Egypt’s role as Africa’s greatest investment destination.

He said this would show available investment opportunities, contributing towards achieving sustainable and inclusive growth that will provide millions of jobs, utilize natural resources and implement major projects.

In late July, Sisi had inaugurated the seventh edition of the National Youth Conference at the New Administrative Capital.

More than 1,500 youths from Egypt and Africa, ambassadors and representatives of international institutions took part in the event, to discuss political, economic and social issues.

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