Cairo, 13 January 2019: Prime Minister, Dr. Mostafa Madbouli, inaugurated CI Capital’s 3rd Annual MENA Investor Conference, organised by CI Capital Holding, the leading diversified financial services group in Egypt. The conference, in line with CI Capital’s commitment, aimed to help investors filter through market noise in the current challenging global environment. It proposed a dynamic investment strategy for investors to achieve the highest returns, through maneuvering risks and focusing on top opportunities.
In attendance were around 280 investors from 100 regional and global investment entities, with total assets under management of USD5tn, and 76 senior executives of companies listed on the Egyptian and Arab stock markets.
The first day was attended by Deputy Governor of the Central Bank of Egypt, Lobna Helal, Minister of Investment and International Cooperation, Dr. Sahar Nasr, Minister of Finance, Dr. Mohamed Maeet, Minister of Trade and Industry, Eng. Amr Nassar, Minister of Tourism, Dr. Rania Al-Mashat, Minister of Planning and Administrative Reform, Dr. Hala El Said, and Minister of the Business Sector, Dr. Hisham Tawfik.
Chairman of the Egyptian Stock Exchange, Mohamed Farid, was also in attendance, along with MENA Chief Economist at the Institute of International Finance, Dr. Garbis Iradian, Senior Economist at Bloomberg Economics, Dr. Ziad Daoud, and Senior IMF Resident Representative to Egypt, Dr. Reza Baqir.
Prime Minister Madbouli noted that the timing of the conference is critical to Egypt and economies of neighbouring countries in the Middle East. He highlighted that 2019 is expected to be the final stage for implementing the economic reforms programme, with the IMF’s support.
“We seek to include the private sector in every stage of the development plan adopted by the government. The sector is one of the foundations representing real guarantees to empower Egyptians and give them the proper tools to improve the economy and make perfect use of its potential,” underlined Prime Minister Madbouli. “Based on that, we seek to provide comprehensive guidelines and improve the investment climate as a priority to implement our economic reforms programme,” he added.
Minister of Investment and International Cooperation Nasr indicated that Egypt is a destination for investments, with its economic stability and promising investment opportunities, supported by its business and legislative climate. This includes incentive programmes for investors and an integrated map of opportunities across Egypt, assisting the private sector to inject more investments.
She added the government believes in the private sector’s role in achieving comprehensive economic development, providing up to 70% of jobs in Egypt, noting that sustainable economic development comes from the effective cooperation between the private and public sectors.
CI Capital’s Chairman and Group Chief Executive Officer, Mahmoud Attalla, affirmed, “The concern and interest from the government reflects the conference’s success in its previous editions. It reflects the state’s interest in attracting stable investments, participating in the economic reforms programme, and supporting the government’s successful efforts, which have contributed to protecting Egypt against the current emerging markets crisis”.
CI Capital’s Co-CEO, Hazem Badran, added, “The MENA Investor Conference provides policymakers the chance to present and promote diverse investment opportunities, in addition to attracting investors from around the world to companies that operate in the different economic sectors in the MENA region.”
Throughout its activities until 16 January, the CI Capital MENA Investor Conference discussed financial awareness initiatives as tools to achieve financial inclusion and increase GDP. It reviewed new investment laws and their mechanisms, economic reform policies, national projects, and Egypt’s industrial and export-based strategies that target the largest possible outcome from the reforms and cooperation. It included discussion panels on key transformation stories in the MENA region, and 2600 one-to-one meetings between major institutions and international investment funds to discuss investment and growth opportunities.
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