Egypt considers launching national platform to mobilise green financing for private-sector industrial transformation    Egypt's FRA chief vows to reform business environment to boost investor confidence    Egypt's enterprise agency injects EGP 2.2bn into Alexandria projects    Egyptian, Belarusian officials discuss drug registration, market access    Egypt's ARC, Italy's AICS sign deal to boost wheat production    Gold prices edge higher on July 16th    Egypt stocks hit record highs in 2025 as reforms fuel rally: Cabinet    Egypt condemns Israeli strikes on Lebanon, Syria    Syria says it will defend its territory after Israeli strikes in Suwayda    Egypt urges EU support for Gaza ceasefire, reconstruction at Brussels talks    Pakistan names Qatari royal as brand ambassador after 'Killer Mountain' climb    Health Ministry denies claims of meningitis-related deaths among siblings    Egypt's Health Min. discusses drug localisation with Sandoz    Egypt, Mexico explore joint action on environment, sustainability    Needle-spiking attacks in France prompt government warning, public fear    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, France FMs review Gaza ceasefire efforts, reconstruction    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Egypt's PM urges BRICS to prioritise peace    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt's GAH, Spain's Konecta discuss digital health partnership    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egyptian economic summit scheduled for 21 February
Egyptian government plans to present projects worth $100 billion to international investors at the event
Published in Ahram Online on 04 - 10 - 2014

A major economic summit aimed at encouraging international investment in Egypt will be held on 21 February in the resort town of Sharm El-Sheikh, Supply Minister Khaled Hanafy said.
During the summit, Egypt's government will present 15 mega-projects worth $100 billion, Hanafy said, according to state daily Al-Ahram on Saturday.
The summit will host international companies and organisations, to encourage them to invest in the country.
Egypt has already completed the planning of a project to build an international shopping zone on one thousand feddans of land near the Suez Gulf, which should create around 500,000 jobs, said Hanafy.
A commodities exchange project, which is expected to cost $14 billion and have a storage capacity of up to 40 million tons, will also be presented at the summit.
Egypt announced last month that it will request an assessment from IMF of the country's economic and financial affairs ahead of the summit, known as an Article IV consultation.
Investment Minister Ashraf Salman said last week that the move is meant to assure investors that Egypt is taking the necessary economic reforms needed to encourage growth and a healthy investment environment.
The private sector will also be able to present projects in the summit to attract international partners, Salman said last month.
Since Abdel-Fattah El-Sisi became president in June, the government has made several major economic reforms aimed at fiscal consolidation, including cutting fuel subsidies by up to 78 percent, and introducing new taxes.
Egypt has also seen the announcement of mega projects to expand the Suez Canal and to encourage public-private partnerships in developmental projects.
But Egypt's battered economy is in need for further investments. According to Salman, Egypt will need private sector investments of LE260-LE336 billion if it is to achieve its growth target of 3.5 percent by the end of the current fiscal year.
http://english.ahram.org.eg/News/112362.aspx


Clic here to read the story from its source.