Addressing the seventh edition of the Builders of Egypt Forum, the PM said that Egypt presiding over the African Federation of Construction Contractors Associations (AFCCA), which held its general assembly meeting on Saturday, demonstrates confidence in the country.
Madbouly reviewed Egypt's development efforts in housing, transport and roads, and digital transformation.
Over the past eight years, Egypt has succeeded in making a great leap in removing the challenges facing these vital sectors, the premier noted.
In housing, Egypt has removed dangerous slums and relocated their residents to safe and livable housing units, the premier noted.
Egypt has also succeeded in building 15 new 4th generation cities, Madbouly noted, adding that plans are still underway to build more cities to absorb the population increase and create more real estate and developmental opportunities.
Minister of Housing, Utilities and Urban Communities Assem El-Gazzar said during the forum that the construction of new cities in Egypt is the largest and most successful experience of its kind worldwide, noting that no country in the world has implemented this number of new city projects in such a short period of time.
The concept of urban development is not only limited to the establishment of new cities and housing, but extends to all aspects of development in various fields, such as agriculture, industry, education and tourism, El-Gazzar said.
El-Gazzar noted that all elements of the national strategic plan for urban development in Egypt aim to expand housing areas with a view to finding new development and investment opportunities.
The forum, which is the country’s largest of its kind in the construction sector, saw the participation of Egyptian, Arab, and African ministers in the sectors of housing, investment, and services. A number of foreign ambassadors and heads of relevant federations and business organisations also were among the attendees.
This is in addition to more than 500 executives representing contracting, real estate and energy companies as well as financial and banking institutions and investment funds.
The theme of this year's forum is centred on development and financing opportunities in Africa and Arab countries in light of global changes.
Transport and roads
On transportation and roads, Madbouly reviewed Egypt’s various mega projects such as the monorail, the high-speed electric train, as well as the development of the railway network and metro lines, noting that such projects have attracted investments and provided new job opportunities for youths.
Madbouly also pointed out what he described as the “miracle” in the energy sector, as Egypt has succeeded in a very short time to end the problem of electricity shortage and turned to an exporter country to its neighbours.
Madbouly also said Egypt is also working on the implementation of the Decent Life initiative, which has been described as "the project of the century," that will benefit some 60 million Egyptians and make a categorical leap in the life of residents of the countryside.
He also noted that Egyptian companies, both public and private, are now offering their vast expertise in construction to a number of Arab and African states.
Madbouly said Egypt is ready to cooperate with any friendly countries to implement all types of projects in any Arab or African region at the highest international standards and according to specific timetables.
Minister of Social Solidarity Nivene El-Qabbaj stressed the need for states to be committed to preserving the rights employees and to provide insurance protection against unemployment, disability and death. She added that it is imperative to empower women economically as a fundamental pillar of development, as they represent 66 percent of the labour force in Africa.
El-Qabbaj added that Africa owns 30 to 50 percent of the world’s total resources, which can enable it to maintain sustainable development.
Held since 2014, the Builders of Egypt Forum is the largest and most prestigious event in the contracting and construction sector in Egypt. The annual event seeks to improve the investment atmosphere and develop mechanisms for implementing the state’s national projects in this regard.
In its seventh session, the forum seeks to expand discussions to include development projects in many African and Arab countries in industry, tourism, health and education.
The forum is organised by the Egyptian Excellent Communications company, a subsidiary of the United Media Services, in cooperation with the African Federation for Construction Contractors Associations.