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Egypt’s Sets Date for Upcoming Economic Conference

Egypt’s Sets Date for Upcoming Economic Conference

Thursday, 29 September, 2022 - 08:45
Egypt’s cabinet announced the date of the upcoming economic conference. (Photo: Egypt’s Cabinet Facebook page)

The Egyptian government announced that the upcoming economic conference, called for by President Abdel Fattah el-Sisi, would be held from October 23 to 25.

Speaking on the sidelines of the inauguration of naval units in the Suez Canal earlier this month, the Egyptian president called for holding an economic conference to “discuss the future of the Egyptian economy, with the participation of investors, industrialists and economists with opposing opinions.”

Over the past weeks, the government organized a series of meetings to prepare for the conference, which was expected to be held at the end of September in implementation of Sisi’s proposal.

During a cabinet meeting on Wednesday, Prime Minister Mostafa Madbouly, announced the date of the conference, which he said would tackle the current economic conditions and anticipate the future of the Egyptian economy, with the participation of experts, specialists, and representatives of the business community.

In remarks on Tuesday during the inauguration of a number of projects affiliated with the General Investment Authority, Sisi said: “The conference is an opportunity to discuss the difficulties and obstacles facing investors and businessmen, with the aim of resolving them.”

He also vowed to solve “investors’ problems within two months at most.”

Egypt’s economic and investment climate is facing criticism from investors and entrepreneurs, due to what they describe as the “slow and difficult procedures” required to launch investment projects, in addition to the “import restrictions” and obstacles related to the provision of production material, which have recently increased as a result of the repercussions of the Russian-Ukrainian crisis.

Madbouly, for his part, said that his government was “closely following the repercussions of the Russian-Ukrainian crisis, and working to provide the basic needs of citizens.”

“The government maintains its efforts to secure a safe reserve of basic and strategic commodities… in implementation of the president’s directives to enhance food security and provide the necessary financial credits to achieve this goal in cooperation with the Central Bank,” he stated.

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