President Abdel Fattah Al-Sisi met with Prime Minister Mostafa Madbouly and Finance Minister Mohamed Moeit and discussed updates regarding the country’s economic issues.
During the meeting, Al-Sisi stressed on the keenness of the state to directly engage with investors in highlighting the economic developments and the promising investment opportunities available in the Egyptian market in various sectors.
The president accentuated the state’s efforts to develop the country’s infrastructure by expanding the national road network, establishing new urban communities, generating surplus gas and electricity reserves to meet local needs, contribute to the localisation of industries, the development of many industrial zones, financing small and medium-sized enterprises, improving legal frameworks and systems in order to provide a legislative environment which promotes the rule of law.
Egyptian officials outlined the efforts to stimulate the economy and encourage investment by adopting policies that support the country’s monetary and economic stability, empathising that these efforts seek to encourage investment, enhance the competitiveness of Egyptian products, and reduce the burden of exports.
Egypt will continue to implement the economic reform programme as a long-term national goal, he said, adding that more attention will be devoted to promising economic sectors to meet local production needs.
The meeting also reviewed Egypt’s current capabilities, which have doubled its ability to attract foreign investment, including restoring and maintaining security amidst public awareness, the availability of trained labour, large market agreements and free trade agreements linking Egypt with markets in Africa, the Arab region, and the European Union.