Sisi urges investment funds to participate in promoting Egypt's economic development

President Abdel Fattah El Sisi on Monday received a delegation gathering representatives of 27 regional and global investment funds, currently paying a visit to Cairo upon an invitation of EFG Hermes, to review economic developments and available investment opportunities in the Egyptian market.

Prime Minister Sherif Ismail, the governor of the Central Bank of Egypt, and the ministers of international cooperation, petroleum and mineral resources, trade and industry, finance, and investment took part in the meeting.

Presidential spokesman Alaa Youssef said Finance Minister Amr el Garhy reviewed recent positive indications of the economic situation in Egypt following the economic decisions taken in November 2016, and the agreement with the International Monetary Fund.

He hailed the investment funds' role in increasing direct and indirect investment flows to Egypt.

He added that some investment funds taking part in the delegation have investments in Egypt, but most of them have plans to increase their investments in the next stage in light of the economic reform program, currently being implemented by the government.

For his part, Sisi affirmed his keenness to meet with representatives of regional and global investment funds to reflect the open policy adopted by the government to encourage investment and its efforts to provide an attractive climate for investors and overcome all obstacles facing them.

He added that Egypt enjoys large investment fundamentals, promising opportunities in various sectors, and political stability, despite the troubled regional situation. 

He added that a package of courage economic reform measures were taken for improving economic indicators and the investment climate after the country faced huge economic challenges that were accumulated over decades.

He hailed the Egyptian people for withstanding against challenges and understanding the importance of the reform measures.

The president also reviewed national projects that have been completed in a record time to improve the infrastructure and provide necessary energy for the development process.

He urged the investment funds to participate in promoting Egypt's economic development.

Also, the Egyptian official briefed the delegation on efforts exerted at various levels to stimulate the various economy sectors and provide a favorable investment atmosphere.