Private sector's role in Egypt's economic growth took center stage at the Narrative Summit 2025
Dr. Ahmed Moharram: The private sector is the driving engine of Egypt's economic growth generating revenue and jobs and helping Egypt build global competitiveness and long-term economic resilience
Today Dr. Ahmed Moharram, Founder and Managing Director of Anchorage Investments, was a featured speaker at the Narrative PR Summit, which is taking place on April 7–9, 2025, at the magnificent Somabay on Egypt's Red Sea coast. With the captivating theme "Egypt Reset," the prestigious event kicked off today, drawing prominent global leaders, insightful experts, and influential figures from around the world. The ninth edition of the summit is proudly held under the auspices of several key ministries, including the Ministries of Planning, Economic Development and International Cooperation, Investment, and Youth and Sports, focusing on promoting investment, tourism, and sports as key pillars of Egypt's economic transformation.
As a panelist in the session titled "Empowering the Private Sector is Vital to Egypt's Growth and Prosperity," Dr. Moharram highlighted the enablers and challenges of launching one of Egypt's largest private-sector industrial projects: the USD 2.2 billion Anchor Benitoite Petrochemical Complex in Ain Sokhna.
"The private sector is a vital driving engine of economic growth. When we invest in large-scale, export-oriented industries, we not only generate revenue and jobs but also help Egypt grab global market shares, build competitiveness and long-term economic resilience," explained Moharram.
The Anchor Benitoite project, developed by Anchorage Investments, is a state-of-the-art petrochemical complex designed to produce 1.75 million tons per annum of high-value products along its different phases, including propylene, polypropylene, and acrylic acid derivatives. Located within the Suez Canal Economic Zone (SCZone), the facility leverages Egypt's strategic access to global shipping lanes, investment incentives, and regulatory facilitation.
In his remarks, Dr. Moharram emphasized key enablers of private sector success, including Egypt's strategic geographical location amidst global maritime routes, proactive government support, and access to international proven technology and international partners. He also addressed challenges such as some infrastructure and utility gaps requiring additional captive capital investments to bridge these gaps, policy stability considerations and capital and operational costs' uncertainties.
"To truly empower the private sector, we need to simplify the regulatory environment, foster public-private partnerships particularly with regards to decarbonization infrastructure, and - with regards to greenfield capital-intensive manufacturing projects - work together on building confidence and improving investors' sentiment towards advocating investment decisions being taken into Egypt's greenfield projects not only brownfield turnarounds with quick targeted exits," Dr. Moharram noted. "These are not just business imperatives they are strategic necessities for Egypt's economic prosperity", he added.
He also stressed on the importance of the long-term vision: "Empowering the private sector is not about short-term gains; it is about creating a sustainable business-friendly ecosystem that generates value across generations. Egypt's future prosperity hinges on our ability to build this ecosystem that helps private enterprises and private-sector entrepreneurship thrive and innovate."
The Narrative PR Summit was initiated in 2016 with the goal of enhancing Egypt's global reputation. By uniting influential figures and leaders from the realms of investment, business, tourism, and art, this initiative facilitates the exchange of inspiring experiences and cultivates a sense of national identity. Their collective efforts propel Egypt onto the global stage as a premier tourist destination, while concurrently fostering partnerships with diverse stakeholders, both domestically and internationally, to drive investment in the country's burgeoning sectors.
The Summit's 2025 edition also introduced new initiatives such as the Storytellers Awards, designed to celebrate young digital creators who are shaping modern narratives about Egypt.
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