Egypt: Sharm conference generates 60 bln dlrs business

Country signs agreements, loans. Accords with Italy for 7.5 bln

16 March, 16:50

    Egypt Economic Development Conference Egypt Economic Development Conference

    (ANSAmed) - ROME, MARCH 16 - Egypt obtained a 'treasure' worth 60 billion dollars in direct investments and assisted loans following a conference on economic development that wrapped up Sunday in Sharm el Sheikh. The forum gathered 1,800 delegations from over 70 countries and saw the Egyptian government play all its cards in an attempt to retake the country on the path of development and growth.

    Dozens of agreements were signed in key strategic sectors across three days. The agreements, stressed Premier Ibrahim Mahlab in final statements, ''will have a positive impact on the Egyptian people and economy''.

    Egypt gave itself a timetable to reach its objectives under the slogan ''stability, investments and growth''.

    ''Our government is engaged in implementing policies able to lead to sustainable growth and create a business climate that is competitive and certain''. The agenda honed by the cabinet is ''clear and is aimed at fostering investments while bringing inclusive growth, creating jobs'', he added. The future is mostly for the young, on which the country is investing a lot, as President Abdel Fatah El Sisi stressed at the end of the conference, calling on the stand some young participants who took part in the organization of the event, which will become an annual gathering. ''There are 35 million young people in a country that is waking up again'', said the head of State.

    Fifty heads of State and business leaders were in the Red Sea resort to attend the conference. ''A new era is beginning in Egypt'', assured the premier.

    Major economic partners are again betting on the country, contributing to its reconstruction - starting with the Italians, as recalled by the deputy minister for economic development, Carlo Calenda, who worked on agreements overall worth some 2.5 billion euros, as well as Eni's accord worth 5 billion dollars.

    (ANSAmed)

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