The conference of “the Egyptian economy on the path of progress.. mechanisms..challenges.. opportunities..” kicked off today، Saturday، Under the auspices of Prime Minister Sherif Ismail at Masa Hotel in Nasr City in Cairo.
The conference is organized by Al-Ahram Al-Ektesady magazine.
Representatives of financial and investment institutions، and a number of ministers، senior officials، businessmen and investors will attend this conference: Prime Minister Sherif Ismail، trade and industry minister Tarek Kabil، Financial minister Amr Al Garhy، chairman of Al-Ahram Foundation Dr. Ahmed Sayed El-Naggar، and editor in chief of Al-Ahram Al-Ektesady ، Khalifa Adham will give speeches during this conference.
The conference includes four discussion sessions in addition to the closing session، the first session is entitled “the future of industrial development and increasing of investment،”. This session is headed by prominent businessman Mohamed Abou El- Enein،Chairman of the Egyptian- European Business Council. The second session is entitled “directions and mechanisms of economic reform and fiscal and monetary policy”. The third session comes under the title of “Economic reform and Strategy of 2030”. While the fourth session is entitled “The Future of Real Estate Investment.. Challenges and Opportunities”. The closing session comes under the title of “Investment in the Egyptian economy”.
Meanwhile the conference is headed by editor in chief of Al-Ahram Al-Ektesady ، Khalifa Adham.
Egyptian Businessman, Mohamed Abou El-Enein, Chairman of Egyptian-European business council, said that the production specialization process in the Egyptian economy is essential and important to strengthen the economy’s ability in achieving Egyptians’ aspirations.
Abou El-Enein stressed during his word in Al-Ahram El-Ektsady conference on the importance of marketing investment map and specialized economic zones, giving an example to the state of china, which was able to create specialized industrial societies, succeeding in invading the world through its products.
Moreover, Abou El-Enein stressed on the importance of exerting efforts at all levels to improve the national economy and achieve the desired advancement.
The next period is of utmost importance, and seriousness, as Egyptians will rebuild themselves and the economy through legislations and practices, Abou El-Enein said.
He added that Egypt would be a large industrial state through the consolidation of a new culture for future visions and ambitions that are cultivated by the Egyptian media.
Abou El-Enein stressed on the need to define objectives with regard to the investment process، saying: “We must first determine if we really want investment or not ?! And what kind of investment that we want، and how can Egypt be an investment hub on a global level?”
He pointed out that Egypt needs to be an attractive destination for investment، stressing that soon the investment will increase following the recent economic measures taken by the government.
The Chairman of the Egyptian-European Council encouraged the government to take further measures and legislations that aim to address any obstacles facing investment، in order to encourage investors to establish industries that represent an added value to the Egyptian economy.
Furthermore، he called on the government to take steps in order to eliminate bureaucracy.
The businessman pointed out to the importance of establishing market competitiveness،praising the recent economic reform measures that seek to attract investors.
The Egyptian economy will witness promising investment opportunities in the next stage following the international confidence in the economic reform measures taken by the government to improve the investment climate and enhance the capacity of the Egyptian economy to achieve growth, Abou El-Enein noted.
He added that the industry sector is the cornerstone of the economies of major countries, it is the real added value to any economy that seeks to promote the growth, the prominent businessman assured.
Abou El-Enein declared Several proposals for marketing Egyptian products and for the invasion of the global market. The proposals include the establishment of a sustainable Egyptian Centre for all Egyptian products, or promoting goods via cargo vessels that roam all African coasts, or organize Egyptian concerts, Volkor and marketing Egyptian goods.
He said : “we have a promising market to import and export, there are countries that opens up Prospects to other countries”.
Meanwhile, He stressed on the need to support Egyptian products and exports to compete in the global market.
Abou El-Enein said that the Egyptian products have a large market in 22 African countries، including countries who are members of the Common Market for Eastern and Southern Africa (COMESA)، pointing out that African countries are ready، eligible and in need of the Egyptian products.
He explained that Egypt has strong link to Africa، as the historic relations are characterized with constant cooperation، stressing Egypt’s supportive attitude towards those countries.
The Chairman of the Egyptian-European Council asked the government to boost the Egyptian-African relations and benefit from shared history between Egypt and these countries through creating opportunities to export products and opening markets for Egyptian products in 22 African countries.
Abou El-Enein said that the production costs and the costs of investment have increased dramatically، pointing out to the need for a new plan for exports، a review of investment costs and production costs.
He stressed that the price of gas as an energy source has risen dramatically، especially after the flotation of the Egyptian pound and the rise in the price of US dollar by 100%، adding that this is a significant factor that affects the costs of production، calling on the government to review the gas production process.
The Chairman of the Egyptian-European Council pointed out that there are some industries، which acquire gas for lower prices than other industries، urging the government to review this issue.
