Launch of 06 projects
In his speech at the opening of the economic conference, Egyptian President Abdel Fattah al-Sisi emphasized that the Egyptian people have realized that economic construction is vital to building a modern and comprehensive state, and that there are three basic policies in Egypt's future economic development, first: Maintaining macro stability in the country and reducing the fiscal deficit. Second: Improving the investment environment to attract foreign investment. The main objective of Egypt holding a high-level economic conference and inviting many participating countries is to show the world that Egypt is safe and stable, and to signal the launch of efforts to build Egypt's economy.
The main objective of holding a high-level economic conference and inviting many participating countries is to show the world that Egypt is safe and stable, and signal the launch of efforts to build Egypt's economy.
During the meeting, 60 projects were launched to accomplish basic infrastructure, energy, agriculture, tourism and other fields, about 35 billion dollars, including the Suez Canal Development Project to lead Egypt's economic development over the next 15 years until 2030, and 6 projects in ports, tourism, storage, logistics and other industrial projects.
At the meeting, 60 projects were launched.
4 billion dollars from the Kingdom
Crown Prince Muqrin bin Abdulaziz announced that his country is providing a $4 billion aid package to Egypt, along with a $1 billion deposit with the Central Bank.
Prince Muqrin bin Abdulaziz announced that his country is providing a $4 billion aid package to Egypt.
Muqrin saluted the Egyptian people and the Egyptian state for the good reception of the delegations participating in the economic conference, and added in his speech during the opening session that Saudi Arabia is keen and emphasizes its interest in supporting Egypt's stability and prosperity at all levels.
He stressed that the Kingdom is keen to develop its relations with Egypt and support its positions, and hopes that its contributions to the conference will contribute to supporting the efforts of the Egyptian government to stabilize the monetary market.
He added that the Arab region is witnessing many developments that have negatively affected the path of development, including terrorism, emphasizing Saudi Arabia's strong condemnation of the terrorist acts that Egypt is witnessing.
For his part, President Sisi praised the brotherly approach of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz towards Egypt and its people, which reflects a conscious realization by the Kingdom and its kings of the need for the Egyptian economy to advance not only in terms of growth but also to provide job opportunities and employ youth.
President Sisi also praised Saudi Arabia's support for Egypt.
04 Chinese companies
China put forward four recommendations to enhance cooperation between China and Egypt: First: Joint construction of the "Belt and Road". Second: Strengthen infrastructure and industrial cooperation. Third, promote trade facilitation and make trade in a more balanced direction. Fourth: Strengthening international cooperation. China will continue to provide development assistance to Egypt and support Egypt to play a more active and constructive role in international and regional affairs.
Chinese enterprises' performance is brisk
Egypt revealed that more than 40 Chinese companies participated in the economic conference in Egypt. The executive director of China's TEDA in the development of the Northwest Gulf of Suez Economic Zone said in a press interview that he is very optimistic about Egypt's future. Adding, Egypt has witnessed recent stabilization and the performance of investments and achievements is not bad. In June this year, China's TEDA will launch a new project in the Northwest Gulf of Suez Economic Zone, which is expected to attract investments worth 1 billion US dollars and create 40,000 jobs. <Lu Fei, general manager of the representative office of China's CGGC Group in Egypt, said in a press interview that China and Egypt's announcement of the establishment of a comprehensive strategic partnership at the end of last year is bound to raise economic and trade cooperation between the two countries to a new level. "The Egyptian economy is starting to stabilize and recover, and there are many projects in electricity, energy, transportation and other fields. This is also an opportunity for Chinese companies looking to implement their investments abroad in various fields.
Kingdom's remarkable participation
The Kingdom participated in the conference with a high-level delegation headed by His Highness Crown Prince Muqrin bin Abdulaziz, His Excellency the Minister of Finance and a number of senior state officials, where this participation was highly praised by the political and economic circles in the Arab Republic of Egypt
