The Egyptian Economic Conference 2022, organized by the Egyptian government, kicked off on Sunday and will last until 25 October, with wide participation of senior economists, thinkers, and specialised experts. Commissioned by President Abdel Fattah Al-Sisi, the conference will address conditions and the future of the Egyptian economy.
Egyptian Cabinet spokesperson Nader Saad stated that the first day will witness the holding of several sessions dealing with many topics related to economic policies and related fields.
Saad pointed out that the first day of the conference aims to identify the visions and ideas of economists on what are required macroeconomic policies based on the best international practices, and current national priorities in light of the “Egypt’s Vision 2030.” Besides, the development of the Egyptian economy’s growth rates during the past decades. It is expected that outcomes of this session will be to crystallise policies and visions that contribute to achieving comprehensive and sustainable economic growth rates and high levels of employment in light of challenges posed by global and regional conditions.
He noted that policies and measures taken by monetary policy makers around the world to curb inflation, as well as the impact of raising interest rates in developed markets on the situation in emerging markets, in addition to another axis represented in the efforts and measures taken by the Egyptian state to limit the effects and repercussions of high prices.
Meanwhile, the second day of the conference aims to highlight general features of the State Ownership Policy Document and its role in achieving sustainable development goals, and review policies and measures adopted by the Egyptian government to enhance competitive neutrality. It is expected that the outcomes of this session will present general features of the State Ownership Policy Document, address the most prominent results of community-based dialogue that took place with experts in a number of related fields, and shed light on the role of the state in promoting competitive neutrality, and promoting competition and neutrality policies. Along with, opportunities and prospects for partnership with international and regional financial institutions; to enable and stimulate the role of private sector in development efforts, in order to reach insights on the expected role of these institutions, and appropriate mechanisms for financing the projects included in the government’s work plan and programmes. Besides, stimulating foreign and local private sector investments, and the pivotal role of international partnerships in supporting these reforms.
Moreover, discussing Egypt’s regional role as a center for renewable energy and investment opportunities in joint projects between state agencies, the file of electric cars, conversion of waste into energy, and water desalination through renewable energy. Additionally, discussing ways to benefit from real estate wealth, and setting an integrated roadmap for developing the efficiency of the real estate sector and enhancing its competitiveness in the economy. Further, to present the role of the Egyptian state in increasing agricultural production.
One of the important issues would be discussed during the conference, the state’s urgent plan to empower the private sector in economic activity, and how the Sovereign Fund of Egypt works to implement the State Ownership Policy Document and enhance the participation of the private sector by offering state-owned assets to the private sector. Consequently, the state aims to raise the percentage of private sector participation to 65% of total investments implemented during the next three years. Additionally, topics of transport and participation of the private sector in its development, as well as, strategic plan of the Ministry of Health during the coming 10 years will be discussed. Over and above, mechanisms to enhance the role of the non-banking financial sector and the integration of EGX into global financial markets, and sustainability strategy of the EGX will be addressed.
