Egypt to hold National Investment Forum in 1st half of 2024

Ahram Online , Monday 11 Sep 2023

Egypt is set to hold the National Investment Forum in the first half of 2024 to partner with the private sector and promote investment in the country, Prime Minister Mostafa Madbouly announced on Sunday.

Mostafa Madbouly
Prime Minister Mostafa Madbouly. Al-Ahram

 

The forum aims to establish partnerships between government agencies and multinational companies, financial institutions, investment banks, and global sovereign funds, according to a Cabinet statement.

The forum will focus on legislative reforms, megaprojects, and support for small and medium enterprises, positioning Egypt as a “regional hub for investment and logistics services,” said Cabinet Spokesman Nader Saad.

The forum will promote the benefits and incentives of investing in Egypt, including sectors where Egypt has a competitive advantage, Saad added.

According to Madbouly, holding the forum is one of the first decisions made by the recently restructured New Supreme Council for Investment.

The forum affirms “the state’s commitment to implementing the economic reform programme and taking practical measures" to strengthen the private sector, Madbouly said.

Egypt is seeking to increase the private sector's participation in the economy to 65 percent, up from 30 percent currently.

Egypt has recently taken major steps to encourage investment and entrepreneurship, guaranteeing equal treatment between public and private sectors, supporting the investment climate, and developing legislation for startups.

In December, President Abdel-Fattah El-Sisi approved the State Ownership Policy Document, which determines the state's presence in the economic sectors and seeks to enhance the private sector's participation in public investments.

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