In collaboration with the United Arab Emirates, The Egyptian Ministry of Investment will be organizing and hosting the “Egypt/GCC Investment Forum – Strategic Partnerships, Economic Synergies” in Cairo on December 4,5 2013. Under the auspices of the Egyptian Prime Minister His Excellency Dr. Hazem Beblawy, the announcement was made at a press conference held at the Ministry of Investment in Nasr City. The announcement was made by His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of State, and the Egyptian Minister of Investment His Excellency Osama Saleh.
Minister of Investment Osama Saleh said: “The Egypt/GCC Investment Forum presents a great opportunity to promote joint cooperation between Egypt and the Gulf states by addressing various key sectors including: electricity, renewable energy, housing, infrastructure, agriculture, oil and gas, telecommunications, tourism and transportation. I would like to express my great appreciation for the role that the United Arab Emirates has played in initiating this most important economic cooperation platform between Egypt and the Gulf countries as a new step towards strategic partnership and economic integration amongst all parties.”
During the press conference, the Egyptian Minister of Investment highlighted the various favorable investment policies in Egypt and the overall economic strategy. He pointed out government’s future vision including a variety of investment opportunities that aim to expand growth rates, incomes and job opportunities. Minister Saleh drew attention to the government’s efforts towards improve the investment and business climate including legislative and institutional reforms related to investment systems, policies and legislation.
UAE Minister of State His Excellency, Dr. Sultan Ahmed Al Jaber confirmed that “The UAE has great confidence in Egypt and the ability of its people to overcome the current challenges in order to build a better future.” He added that “History is witness that the UAE has never and will not stop cooperating fully with the Egyptians as brothers.” He emphasized: ““Egypt is the the backbone of the Arab nation.”
Minister Al Jaber explained: “We have worked hand in hand over the past months with our brothers in Egypt and the GCC countries to prepare for this forum; where we aim to discuss and study available investment opportunities as well as enhance the attractiveness of the Egyptian investment climate for the benefit of all.”
He added: “We are confident, in light of the great interest and responsiveness to this conference, from Egypt and the Gulf countries that the Forum will contribute to the formation of clear solutions. These are the solutions that will reassure investors from the Gulf to launch joint projects that will strengthen the Egyptian economy and push forward towards the establishment of effective strategic partnership between the Gulf countries and Egypt.”
Al Jaber called on all participants to start developing their ideas and visions in order to capitalize on the unique forum platform and ensure the success of its important objectives.
He reiterated the importance of supporting vocational training, human development, and the exchange of investment related experiences and information. He also stressed the need to overcome obstacles that may hinder the establishment of real partnership that would benefit all.
He highlighted the UAE’s successful track record in promoting economic growth and creating a healthy investment environment. He stressed the UAE’s willingness to share experiences and lessons learned with Egypt.
Through a series of sectoral workshops, the forum will address the importance of refining Egyptian legislation to limit challenges and attract large-scale investments. The overall objective is to support economic growth and employment as well as ensure free flow of capital, shorten procedures and reinstill investor confidence.
The Forum is expected to attract high level delegations, as well as members of the business community from across the GCC and Egypt.
