Madbouly: National Investment Forum is due to convene in the first half of 2024, which affirms the State's commitment to implement the Economic Reform Program, and take effective procedures to enhance the role of the private sector, in addition to putting into effect the State Ownership Policy Document.
The Prime Minister Dr. Mostafa Madbouly chaired the meeting of the Supreme Ministerial Committee to organize the National Investment Forum, yesterday evening. The meeting took place in the presence of Minister of Electricity and Renewable Energy Dr. Mohamed Shaker, Minister of Petroleum and Mineral Resources Eng. Tarek El-Molla, Minister of Planning and Economic Development Dr. Hala Al-Saeed, Minister of International Cooperation Dr. Rania Al-Mashat, Minister of Finance Dr. Mohamed Maait. In addition to Minister of Communications and Information Technology Dr. Amr Talaat, Minister of Trade and Industry Mr. Ahmed Samir, Chairman of the General Authority of the Suez Canal Economic Zone (SCZone) Mr. Walid Gamal El-Din. CEO of the General Authority for Investment and Free Zones (GAFI) Mr. Hossam Heiba, CEO of the Small, Medium and Micro Enterprise Development Agency Mr. Bassel Rahmy, CEO of the Sovereign Fund of Egypt Mr. Ayman Soliman, and a number of representatives of ministries and concerned entities.
At the beginning of the meeting, the Prime Minister assured National Investment Forum is due to convene in the first half of 2024, which affirms the State's commitment to implement the Economic Reform Program, and take effective procedures to enhance the role of the private sector, in addition to putting into effect the State Ownership Policy Document.
He added that organizing such important Forum was among the decrees taken by the Supreme Council for Investment, headed by H.E. President Abdel Fattah El-Sisi, President of the Republic of Egypt, in the first meeting of the Council after being restructured.
Ambassador Nader Saad, the official spokesman for Presidency of the Council of Ministers, stated that the meeting tackled a number of matters related to organizing the National Investment Forum, including the Forum’s pillars that revolve around deepening industry, promoting the green economy and entrepreneurship, and empowering the private sector and innovation. He indicated that the meeting also dealt with the messages intended to be delivered, the target audience, the technical preparation and various other logistics.
Ambassador Nader Saad said that, during the meeting, it was affirmed that the National Investment Forum aims to promote the benefits and incentives of investment in Egypt, as well as the main investment opportunities in economic sectors and activities in which Egypt has a competitive advantage. It also aims to make Egypt a regional hub for investment and logistics services.
He added that the Forum's objectives are to introduce legislative, structural and institutional reforms, and the various incentive packages undertaken by the state to attract investment, in addition to presenting mega projects, industrial localization projects – especially automobiles and their supplementary industries – and green energy projects, as well as promoting SMEs, entrepreneurship projects and startups.
The National Investment Forum also aims to create partnerships between government entities and representatives of the private sector, including multinational companies, financial institutions, investment banks and global sovereign wealth funds.