Egypt prepares for successful economic conference

Egyptian Prime Minister Ibrahim Mahlab said Saturday his government is providing all the requirements of success for the economic development conference "Egypt - the Future," due in Sharm El-Sheikh on March 13-15.
The conference is meant to send a message to the world that the Egyptian government has a clear-cut vision for economic development in the coming years, he said.
Mahlab made the comments at a joint press conference with Saudi Finance Minister Ibrahim Al-Assaf and UAE Minister of State Sultan Al-Jaber after their talks in Cairo.
"The conference will also sent a message to the Egyptian people that the government is committed to creating job opportunities and raising their standard of living through a range of major projects in such areas as housing, healthcare and education," he pointed out.
"The conference should be seen through the perspective of the economic reforms which aim to prod economic development and attain the social justice for all Egyptians.
"It is a crucial step in the country's strategy for economic development and investment promotion, dubbed 'Egypt - the Future,'" he went on.
The government plans to reduce the foreign debt burden through reformation of the tax system, rationalization of the public spending, correcting the subsidy for energy and issuing new legislation to regulate the micro projects, Mahlab noted.
He affirmed that the Egyptian economy is recovering steadily, citing the international credit rating agencies such as Fitch.
Regarding his meeting with Al-Assaf and Al-Jaber, he said they discussed the preparations for the economic conference as well as the bilateral ties between Egypt and the two Arab countries.
He added that he will travel to Kuwait tomorrow to discuss the cooperation agreements and the participation of sisterly Kuwait in the conference.
Meanwhile, Egyptian Minister of International Cooperation Najlaa Al-Ahwani said that the government will present to the conference a new map of the investment in Egypt and the medium-term strategy for economic development.
"Investment in Egypt is more fruitful than ever given the political stability which made the economy poised to leap," she said.
The conference, to be held under auspices of President Abdelfatah Al-Sisi, will feature panel discussions on the government strategy for such sectors as energy, economic growth, social justice, employment and the capital market, she went on.
Al-Ahwani added that the conference with gather business leaders and representatives of international organizations and regional blocs, such as the Gulf Cooperation Council (GCC), G-7, and BRICS (Brazil, Russia, India, China and South Africa).
On their part, Al-Assaf and Al-Jaber commended the efforts being made by the Egyptian government to set the stage for the conference and realize the aspirations of the Egyptian people for prosperity and progress.