Multi-lateral, international, multi-faceted conference will signal the revival of 'Egypt the Future'

Abu Dhabi, United Arab Emirates; 24 Jan 2015: With the recent positive economic turnaround in Egypt, The Egypt Economic Development Conference (EEDC), taking place from March 13-15 in Sharm El Sheikh, promises a unique opportunity and first-mover advantage for global investors, said Dr. Sultan Al Jaber, UAE Minister of State and Director of the Egypt Task Force. 

The remarks were made at a briefing session conducted by the EEDC team to various UAE entities on the sidelines of the Abu Dhabi Sustainability Week (ADSW) on Thursday.

Al Jaber gave his opening remarks highlighting that "Under the leadership of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates and the directives of His Highness Sheikh Mohammed bin Rashed Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and the support of His Highness General Sheikh Mohammad bin Zayed Al Nahyan, Crown Prince of Abu Dhabi  and Deputy Supreme Commander of the UAE Armed Forces; the UAE is honored to play a strong supportive role alongside the Kingdom of Saudi Arabia in support of one of the most important countries in the region."

He added that the EEDC must be viewed as a launch pad for a new chapter in the history of Egypt's economic revival - emphasizing the importance of amendments to laws, regulations, investor protection programs and a clear economic vision.

Thanking all participating parties, Al Jaber highlighted that the EEDC is a "landmark, international, multifaceted multi-disciplinary event that will include political experts, industry experts, entrepreneurs, private and public companies and more."

He referenced a speech made earlier by His Excellency President Abdul Fattah El Sisi at the opening of the ADSW on Egypt's commitment to "creating and amending laws that protect and attract investors into Egypt."

Highlights of the brief included a list of current investment reforms underway in Egypt such as a microfinance law that provides a full legal basis for micro-lending, a renewable Energy law and a mining law with other law amendments planned prior to the conference.

The team also highlighted the serious strides Egypt is planning with regards to regulatory and institutional reforms, dispute resolutions, and the preparation of investment opportunities in the lead up to the conference.

The conference will be highlighting opportunities in the agriculture, housing and utilities, energy and mining, tourism, industry, transportation and logistics and ICT.

Dr. Al Jaber referred to President's speech at ADSW about the importance of a collaborative effort - promising Egypt's ongoing commitment to ensuring the protection of investors in Egypt.

The EEDC aims to achieve several objectives:

  • Overcome and mitigate information failures about Egypt's economic situation and thus - better position Egypt on the global investment map

  • Detail the Government's economic development strategy to investors and partners

  • Detail the government's ongoing and determined drive to make clear investment and law regulations that protect the investor.

  • Mobilize development partners' financial support to cover Balance of Payments needs and develop enabling and social infrastructure

  • Present sector-level action plans to enhance private sector participation in key sectors

© Press Release 2015