The two-day conference kicked off earlier today under the title ”Unleashing Egypt's Potential in a Rapidly Changing World,” in the presence of Egyptian President Abdel-Fattah El-Sisi.

In her remarks during the conference's opening session, Von der Leyen noted that EU companies, investors, and financial institutions are eager to learn more about business opportunities in Egypt to facilitate investment.

Von der Leyen highlighted that as per the signed partnership with Egypt, the EU will assist Egypt in three areas, including providing more financial assistance worth € 7.4 billion to help the country go ahead with its reform agenda (to advance the private sector's contribution to the economy), foster the business environment, and create more jobs.

Under the deal, the EU will also mobilize new European investments worth € 1.8 billion to support the strategic sectors in Egypt, including clean energy projects.

“Egypt has the ambitious goal to become a clean energy hub, which is in the EU's interest. Such clean energy will put Egypt at the centre of the Mediterranean crossroads with new corridors to transport clean electricity and hydrogen but also creating new clean tech value chains that span across our region from the Gulf to Europe,” she added.

“Today we rely on battery solar panels… that are mostly produced far away, so what if we joined forces to produce them in our common region,” Von der Leyen continued.

She noted that achieving the previous goals requires skilled Egyptian workers. Therefore, the EU will sign a 25 million euro package to provide digital training for young Egyptians.

In his welcoming remarks during the opening session, El-Sisi asserted that the conference sends “a powerful message of confidence and support from the European Union for the Egyptian economy and the economic reform measures implemented over the past decade."

He said the event represents the first executive steps in upgrading the Egypt-EU relations under the Egypt-EU Strategic and Comprehensive Partnership agreed upon by both sides during the Egypt-EU Summit in March 2024 in Cairo.

The conference “reflects the commitment of Egypt and the European Union to move beyond the stage of pledges to that of implementation,” the Egyptian president added.

El-Sisi asserted that given its strategic location, Egypt could serve as a regional hub for supply chains for European companies and a centre for transferring and circulating renewable and green energy.

All eyes are on the investment opportunities Cairo will showcase during the event.  A wide range of high-level government officials from Egypt and EU countries and representatives of development partners and multilateral institutions are participating in the conference.