While speaking at the Africa 2016, President Abdel Fattah El Sisi stressed the importance of the private sector in pushing forward economic and social development in Egypt and Africa.
He said, the private sector contributes to creating jobs, promoting trade exchange and integrating Africa into the global economy.
President Sisi also used the opportunity to welcome foreign investments in Egypt, adding that the he reviewed the State’s economic plans and structural and legislative reform measures aiming at easing investment procedures and setting a business-attractive stage in parallel with a comprehensive national plan for urban, agricultural and industrial development.
The State has launched mega projects that would create good opportunities for investment in several production and services sectors after the State succeeded in meeting energy and gas needs to fulfill the growing demand of industry and investment, Sisi said at the meeting that was also attended by the ministers of investment, international cooperation and trade.
Egypt is committed to openness to African countries and working jointly for construction and development, Sisi said, noting that the volume of Egyptian investments in African countries hit $8 billion, presidential spokesman Alaa Youssef said.
The business community representatives, meanwhile, hailed Egypt’s organization of “Africa 2016” forum and its key role in connecting African investors with the international community, the spokesman added.