The activities of the “Economic Conference – Egypt 2022… A Road Map for a More Competitive Economy” kicked off on Sunday in the New Administrative Capital, which is organized by the government, commissioned by President Abdel Fattah El-Sisi, over a period of three days.
To discuss many economic issues and files related to the conditions and future of the Egyptian economy, in the presence of a number of ministers, officials and representatives of government agencies, and a wide participation of senior economists, thinkers, and experts.
During the opening of the conference, President Abdel Fattah El-Sisi delivered a speech in which he refuted, in deep focused points, the economic and social situation that Egypt has gone through over the past decades, as follows:
Clear and decisive measures, as he indicated that the depth of the crisis afflicting the state in the modern era requires clear and decisive measures to deal with it,
Adding that confronting challenges has always clashed with the caveats of maintaining the stability of the fragile state, instead of taking decisive measures that are characterized by relative danger,
Noting that The result of internal and external pressures has always required popular support that public opinion was not ready to accept in light of the destitution in which it lives.
With regard to the path of economic reform, President Sisi stressed the importance of defending the reform path that the government is currently pursuing, because it has enabled the state to withstand the current shocks.
He added that the people tolerated and accepted reform and that if the people rejected the reform path, they would have called for early presidential elections, noting that this reform contributed to saving billions of pounds to launch service projects for citizens and saving infrastructure, as well as building 250 thousand housing units to save citizens in slums and inauguration of a road network.
It reaches 7,000 kilometres, and the discovery of the Zohr field, which required 25,000 continuous working hours from the government, a field that contributed to providing natural gas for export and saving millions of dollars per month.
On the other hand, Egyptian Prime Minister Mostafa Madbouly confirmed that the International Monetary Fund expected, despite all the challenges, that the per capita GDP in Egypt would rise to 4,800 dollars by 2025, as a result of the projects implemented by the state, which contributed to achieving the highest rates of employment since 30 years, and therefore the state managed to reduce the unemployment rate to the lowest level despite the increase in the labor force with the increase in population.
In 2013, the unemployment rate was 13%, and the labor force at that time was 28.4%, and in 2021 we achieved an unemployment rate of 7.2%, while the labor force approaches 30 million, as a double effort was made and the government succeeded in reducing the unemployment rate, and the population increase that occurred during this period was absorbed.
It is noteworthy that the second session of the activities of the second day of the conference is held under the title “Opportunities and Prospects of International Finance to Support the Private Sector” to discuss opportunities and prospects for partnership with international and regional financial institutions; To enable and stimulate the role of the private sector in development efforts, in order to reach insights on the expected role of these institutions, and the appropriate mechanisms for financing the projects included in the government’s work plan and program
The third session of the second day will discuss a paper entitled “Supporting the local and foreign investment environment in Egypt”, which deals with an overview of the Suez Canal Economic Zone, a review of the investment system in the region, as well as investment incentives and implemented procedures, the existing infrastructure and the ongoing development work.
While the fourth session on the second day will witness the discussion of “Egypt’s regional role as a center for renewable energy”, while the fifth session will be held under the title “Real estate wealth, ways of development and increasing the contribution of the private sector” and will address the state’s efforts to maximize ways to benefit from real estate wealth, and develop an integrated road map for developing The efficiency of the real estate sector, and enhancing its competitiveness in the economy.
The sixth session of the activities of the second day of the conference will be held under the title “A roadmap towards maximizing agricultural output and enhancing levels of self-sufficiency.” The risks of crises facing the food security file, in addition to setting milestones for a roadmap towards maximizing agricultural production and enhancing levels of self-sufficiency, as well as listening to the visions and ideas of stakeholders and those concerned with the agricultural sector and related activities.
As for the seventh session of the activities of the second day of the conference, entitled “Towards a roadmap for maximizing high-tech exports”, it aims to identify the visions and ideas of economists, to determine a roadmap for the growth of the high-tech ICT industry with high added value in Egypt, and to propose the necessary solutions to steadily double the size of this industry. ; To be a locomotive for economic growth and sustainable development in Egypt.
