Egypt’s Al-Sisi discusses economic situation with ministers, local investors 

Daily News Egypt
3 Min Read

Egypt’s President Abdel Fattah Al-Sisi received on Tuesday a delegation of Egyptian businessmen and investors from various industrial sectors in the presence of Prime Minister Mostafa Madbouly.

Also in attendance at the meeting were the acting governor of the Central Bank of Egypt (CBE), along with several ministers of the Cabinet.

During the meeting, the president stressed the state’s keenness to continue direct interaction with investors and the business community whose success represents support for Egypt’s path towards comprehensive development and state-building by establishing a balanced partnership with the state aiming to support the economy and settle industry.

According to the Presidential Spokesperson Bassam Rady, the president affirmed the state’s interest in stimulating investment and dealing decisively with all the concerns facing national businessmen, especially in light of their effective and influential contributions to the GDP, the employment rates of manpower, and the administrative and organisational capabilities they possess. 

The president also reviewed the facilities and the reform and development measures that the government adopts to encourage and support serious investments and to overcome all obstacles to the private sector, in addition to what the state is undertaking in terms of infrastructure development — especially in the ports and airports sector, the road network, and the modern transportation system — in addition to the great development that took place in the customs and tax systems besides the modernisation of legal frameworks and systems.

Furthermore, Rady explained that the ministers highlighted the developments of the economic scene and the promising investment opportunities available in the Egyptian market in various sectors, as well as reviewed the various components that Egypt now enjoys, which doubled its ability to attract foreign and local investments.

They also reviewed the efforts made at various levels in Egypt in order to stimulate all sectors of the economy, including tax and customs amendments, the expansion of digitisation and the flow of databases, and other development measures that include all sectors of the state.

Moreover, the meeting witnessed an open dialogue between the president and a group of Egyptian businessmen and investors about what the government is doing to advance the comprehensive development process in Egypt and the future prospects for the economic situation in Egypt. 

Finally, it covered the political agenda to achieve reform and growth in Egypt at an accelerated pace and contribute significantly to restoring the positive mental image of Egypt among the foreign and Egyptian business community.

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