Several sources reported that President Abdel Fattah Al-Sisi met with 12 investors for two hours during his time at the Africa 2016 forum.
During the meeting, Al-Sisi said the government took several reform steps to support investments; however this is still not enough and is just the first stage in a long process. The government is seeking to revive the economy through several national projects in the Suez Canal Zone, according to sources.
Five of the businessmen participating in the meeting were Egyptians, including executive chairman of Qalaa Holding’s energy subsidy TAQA Arabia Khaled Abu Bakr, President and CEO of ElSewedy Electric Ahmed ElSewedy, Managing Director of Qalaa Holding transportation division Karim Sadek, and Vice President of Microsoft Corporation and President of Microsodt Middle East and Africa (MEA) Aly Faramawy.
Abu Bakr mentioned how experienced his company is in the energy sector in Africa and would be willing to help negotiate with African countries that have gas reserves, aiding them use such reserves to benefit their economy.
Siemens will finalise 50% of its projects by the end of this year, which will increase Egypt’s electricity production.
Al-Sisi also mentioned that a committee of representatives from several countries in Africa will facilitate issues faced by investors.
