Held on behalf of Sisi RT reveals the importance of a large-scale economic conference in the new administrative capital

A group of economic experts in Egypt spoke about the importance of the economic conference, which will be held in the new administrative capital, commissioned by Egyptian President Abdel Fattah El-Sisi.

Egyptian economic expert Ahmed Abu Ali stressed that hosting an economic conference is the government’s plan to deal with the effects of the global economic crisis, as hosting an economic conference is to seek consensus on an economic roadmap for Egypt during the coming period.

He noted that the conference aims to propose clear policies and measures that help to increase the resilience of the Egyptian economy and its ability to adapt in line with global economic developments.

He continued: “The importance of the conference is due to the fact that it will undoubtedly satisfy the desires of businessmen and will contribute to the modernization of thinking and economic vision, which creates competitiveness with countries to expand our opportunities for work, as well as to meet the needs of the economic community, where in there is currently a socio-economic movement that promotes foreign investment, which is a message to the world that Egypt is safe for investment, as well as a discussion of the issues facing investors, whether Egyptian or foreign, and the economic conference is important to develop a complete vision of the Egyptian industrial sector, and the conference will discuss the implications of the rising dollar and its impact on industries, as well as the reasons for delays in supply chains, raw materials, etc. .

Economic development expert Osama Al-Saeed

For his part, Osama Al-Saeed, an economic development expert and former dean of the Faculty of Commerce at Beni Suef University and founder of the Research Institute for Small and Medium Enterprises, said that the aim of the economic conference is to confront the negative and dangerous consequences of the global financial crisis and engage in meaningful dialogue between by the government and the business and investment community to find urgent solutions to counter the challenges facing the investment file in Egypt.

He noted that there is no doubt that the great importance of holding this conference is to discuss the economic problems of Egypt, listen to the opinions of economists, investors and businessmen and develop a roadmap to solve these problems so that this conference has a positive value. and significant effects to support the national economy and solve the problems of investors, the industrial sector and the problems of Egyptian exports, as well as the need to find urgent solutions to all problems facing the local industry and to submit proposals and recommendations that can help move this sector forward, especially since we are at a stage that calls for a reduction in imports to save hard currency, as well as work on the localization and deepening of various industries in Egypt.

He noted the need to also pay attention to encouraging young people who own small, medium and micro enterprises to reduce the problem of unemployment These problems and the development of a roadmap to address them in the period immediately after the conference.

Al Said continued: “The importance of the Egyptian Economic Conference lies in its ability to achieve integration between the government and the private sector, as evidenced by the participation of hundreds of private sector companies during the events and sessions of the conference, which requires the government to remove all obstacles that stand in the way of this integration between the government and the private sector to develop the Egyptian economy as the conference provides an opportunity for industrialists and business leaders in various sectors to present their vision for the development of the Egyptian economy. The conference will provide an opportunity to present a variety of perspectives that contribute to decision making and support for government officials.”

Mahmoud Daoud, specialist in urban development and sustainable cities

Mahmoud Daoud, specialist in urban planning and sustainable cities, stressed that there is no doubt that the economic conference, convened by Egyptian President Abdel Fattah El-Sisi, will help support the national economy in overcoming the negative effects of the global financial crisis. There is no doubt that the inflation rate and the Russian-Ukrainian crisis are the main reason for what is happening in the world. Now from the economic crises that have left their negative ones, raising a wave of global inflation.

Dowd continued: “The economic conference came at a very opportune time to counter the negative and dangerous effects of the global financial crisis, since the most important thing for the government is to listen to the opinion of investors, investment workers and administrators, because these are the ones who are facing real problems and difficulties, since the success of this conference and the arrival of new investors will be achieved only by gaining the trust of current investors, which means that the desired economic recovery after the convening of the economic Conference depends on the growth of real estate, industry, agriculture, tourism and other investment projects, since the biggest obstacle facing the national economy is bureaucracy and bureaucracy, and it is necessary to reduce the time steps of investors in terms of administrative matters and facilitation of customs procedures, all of which are important factors and files to be taken out prices on the table of the economic conference”.

He explained that regarding the promotion of investment opportunities in the real estate sector through the conference, this is because the real estate sector in Egypt has made great strides in the previous period despite the difficult challenges it has faced since the coronavirus pandemic and finally the Russo-Ukrainian war and high input prices, as these problems were enough to cause the sector to collapse, but it remained steadfast and even succeeded in becoming the powerhouse of the Egyptian economy. There are many problems these days, including but not limited, rising prices for inputs. Prices for iron rose by 40% and for cement by 50%. In addition, all finishing items also increased in the proportion of iron and cement, as well as construction costs.

Source: RT