Latest news with #Al-Sisi
Daily News Egypt
11 hours ago
- Business
- Daily News Egypt
Al-Sisi reviews unified investment strategy to boost FDI, industrial growth
Egypt's President Abdel Fattah Al-Sisi convened a high-level meeting on Sunday to review progress on Egypt's unified national investment strategy, which aims to enhance the country's economic competitiveness and attract increased foreign direct investment (FDI). According to a presidential statement, the meeting was attended by Prime Minister Mostafa Madbouly, Deputy Prime Minister and Minister of Industry and Transport Kamel Al-Wazir, Minister of Planning and Economic Development Rania Al-Mashat, Finance Minister Ahmed Kouchouk, and Minister of Investment and Foreign Trade Hassan El-Khatib. The president was briefed on ongoing measures to streamline investment procedures, including the development of a one-stop digital platform for licensing, the reduction of non-tax burdens on investors, and broader structural reforms. The strategy emphasizes transparent and stable policy frameworks, investor-friendly fiscal incentives, open trade policies, and reliable energy access for industrial operations. President Al-Sisi emphasized the need to sustain momentum in enhancing the investment climate and reaffirmed Egypt's ambition to become a regional hub for FDI in line with national development goals. The meeting also included an update on the activities of The Sovereign Fund of Egypt, particularly efforts to unlock value from state-owned assets and strengthen public-private partnerships. The president instructed officials to pursue innovative strategies for maximizing returns on national assets. Officials reviewed trends in Egypt's non-oil exports from 2003 to 2024 and discussed strategies to diversify export markets and improve the global competitiveness of Egyptian products. Infrastructure projects supporting export growth were also examined. Further discussions addressed Egypt's strategic goal of becoming a global logistics and transit trade hub. Updates were provided on a planned dry bulk terminal at Abu Qir Port and a proposed logistics station for iron and billet handling in the Adabiya area—initiatives aimed at supporting the growth of Egypt's iron and steel sector. The meeting also reviewed progress in reforming and enhancing the performance of key economic authorities, as well as the broader national structural reform agenda. Officials briefed the president on ongoing cooperation with the European Union under the macro-financial assistance agreement, designed to support Egypt's public finances. Finally, the president reviewed a draft of the country's forthcoming 'National Economic Development Narrative'—a strategic framework centered on enabling private sector-led growth, strengthening industry and exports, and implementing reforms to stabilize Egypt's macroeconomic and fiscal outlook. Al-Sisi called for the swift finalization of the strategy, highlighting its importance in charting Egypt's future development path and attracting global investment.
Daily News Egypt
4 days ago
- Business
- Daily News Egypt
Al-Sisi reviews progress on national digital skills initiative ahead of 2025 launch
Egypt's President Abdel Fattah Al-Sisi convened a meeting on Wednesday with Minister of Communications and Information Technology, Amr Talaat, and Lieutenant General Ashraf Salem Zaher, Director of the Egyptian Military Academy, to review the latest developments in the implementation of the 'Digilians' initiative, Egypt's flagship national programme to build digital capabilities among youth. Presidential spokesperson Mohamed El-Shenawy stated that the president was briefed on final preparations for the programme's official launch in September 2025. These include the completion of the necessary technological and engineering infrastructure, as well as the development of an online registration platform. Minister Talaat outlined the initiative's inclusive framework, which will be open to young Egyptians—both men and women—from all academic disciplines, professional backgrounds, and governorates. Admission will follow a transparent, merit-based selection process. The Digilians programme will offer fully funded educational tracks, including intensive diplomas, specialized diplomas, professional master's degrees, and academic master's degrees. Participants will also benefit from free accommodation and training throughout the programme. The curriculum is designed to integrate technical training with personal development, including language and leadership skills, and freelancing competencies. A key component of the initiative is fostering connections between participants and major tech companies operating in Egypt for hands-on training and mentorship. Additionally, the programme encourages participants to develop and pitch their own tech-based business projects, with support provided to help them enter the global freelancing market and contribute to Egypt's ongoing digital transformation efforts. President Al-Sisi stressed the importance of meeting the project timeline and called for expanding the programme to reach a larger number of participants. He emphasized the strategic significance of creating a quantitative and qualitative leap in Egypt's digital workforce to align with the country's long-term development goals. He also directed that the initiative be implemented in close collaboration with specialized science and technology institutions—both within Egypt and internationally—to ensure access to cutting-edge knowledge and global best practices. President Al-Sisi concluded the meeting by reaffirming Egypt's commitment to its national digital transformation agenda and the continued development of its ICT infrastructure as a foundation for economic growth and innovation.
Daily News Egypt
6 days ago
- Business
- Daily News Egypt
Egypt's Al-Sisi meets US business leaders, promotes investment opportunities
Egyptian President Abdel Fattah Al-Sisi met with a US business delegation in Cairo on Monday, discussing enhanced economic cooperation and investment opportunities, the Egyptian presidency said. The delegation, participating in the US-Egypt Policy Leaders Forum, was headed by Suzanne Clark, President of the US Chamber of Commerce, and John Christmann, Chairperson of the US-Egypt Business Council and CEO of Apache Corporation. Egyptian officials present included Prime Minister Mostafa Madbouly, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El-Wazir, Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat, Minister of Foreign Affairs, Emigration and Egyptian Expatriates' Affairs Badr Abdelatty, and Minister of Investment and Foreign Trade Hassan El-Khatib. The Egyptian Presidency spokesperson stated that before an expanded session, Al-Sisi held a meeting with Clark and Christmann, attended by Madbouly, El-Wazir, and Abdelatty. During this, Al-Sisi expressed 'Egypt's readiness to cooperate with the US business community and investors in all economic fields of common interest, especially with the Trump administration's directives supporting enhanced cooperation between Egyptian and US companies.' Al-Sisi stressed 'Egypt's aspiration to be a major industrial hub for American industries, being a large market and a gateway to the Arab region and the African continent, especially given Egypt's strong ties with African nations.' He also 'emphasised Egypt's aspiration to establish an American industrial zone in the Suez Canal Economic Zone, stressing that the Egyptian side is ready to provide all necessary facilities for American investors.' He noted that 'investment in Egypt is an opportunity for any investor, especially with Egypt's political stability and societal awareness 'based on citizens' consciousness and resilience in enduring harsh economic reforms implemented for the public good,' amidst the difficult regional political circumstances and their repercussions.' Clark indicated that the US business delegation's visit 'confirms the strength and solidity of the strategic alliance between Egypt and the United States.' She explained that 'American companies operating in Egypt are achieving tangible successes, contributing to Egypt's development process, and are considered a model for successful bilateral cooperation, similar to Apache Corporation.' Sisi valued this, expressing appreciation for Apache's operations in Egypt. Presidential spokesperson Mohamed El-Shennawy added that an expanded meeting with representatives of US companies followed. Al-Sisi 'welcomed them, emphasising the depth and solidity of Egyptian-US strategic relations and Egypt's keenness to enhance them in all fields serving mutual interests, especially in economic, commercial, and investment areas.' Al-Sisi pointed out that 'Egypt is a large market with ready and advanced infrastructure to receive investments, and legislative reforms have been undertaken to support efforts to attract foreign investment.' He highlighted areas like the Suez Canal Economic Zone offering facilities for foreign companies and reviewed 'the significant efforts by the Egyptian government within the economic reform programme, which has contributed to a noticeable improvement in macroeconomic indicators, enhanced productivity, and job creation.' The spokesperson mentioned Al-Sisi 'highlighted the significant opportunities available to foreign investors in Egypt, especially given Egypt's distinctive geographical location, through which it plays the role of a gateway to Arab and African markets, as well as to Europe.' Al-Sisi 'expressed a welcome for US investments, both existing and new, and stated that the state is ready to provide all necessary facilities and overcome any obstacles to ensure the success of US companies and investors in Egypt.' He also noted the state's keenness to enhance the private sector's role in development. The meeting addressed priority investment areas for Egypt, including telecommunications and information technology, artificial intelligence, medical devices and pharmaceuticals, the automotive industry, renewable energy, construction, infrastructure, and food industries, the spokesperson said. Al-Sisi 'emphasised the priority Egypt gives to localising industry.' Al-Sisi listened to interventions from US delegation members, who 'expressed their appreciation for the attention the Egyptian government pays to supporting investment and economic development,' and 'affirmed their keenness to benefit from the promising opportunities offered by the Egyptian market and economy, in a way that achieves mutual interests for both sides,' the spokesperson clarified.
Daily News Egypt
21-05-2025
- Business
- Daily News Egypt
Al-Sisi calls for private sector partnership to boost Egypt's agriculture, livestock
Egyptian President Abdel Fattah Al-Sisi on Wednesday urged stronger collaboration between the government, private sector, and local communities to revitalize the country's agriculture, livestock, and fisheries sectors—key drivers of food security and economic development. Speaking at the launch of the first phase of the 'New Future of Egypt Industrial City' and the 2025 wheat harvest season in El-Dabaa, northwest Egypt, Al-Sisi emphasized that transforming these sectors cannot be the responsibility of the state alone. He called for accelerating national agricultural projects, warning that delays lead to lost economic opportunities. 'Bringing 600,000 new feddans into cultivation could generate EGP 30bn annually. Missing a planting season means a full year of lost income,' he said. Al-Sisi highlighted that the state has already laid essential infrastructure—roads, irrigation systems, and electricity—and invited private investors to join in land development efforts, which are expected to provide direct employment for around 600,000 people. On livestock, the president proposed replacing low-yield local cattle breeds with more productive alternatives. 'A better breed can yield nearly double the meat using the same amount of feed,' he said, suggesting a national replacement initiative involving 200,000 to 400,000 head of cattle. The state would support the effort, recognizing that most farmers cannot afford the shift on their own. Turning to fisheries, Al-Sisi criticized the continued use of outdated practices despite Egypt's 14 lakes and extensive coastline. He called for a science-based approach to increase productivity and proposed seasonal fishing bans in lakes such as Nasser, Bardawil, and Manzala to allow fish stocks to recover. Environmental regulations, he stressed, must be enforced to protect aquatic ecosystems. The president also renewed his call to establish a domestic infant formula production facility, pointing out that Egypt still imports 40 to 45 million cans annually. 'I've raised this issue for four years. We need to stop talking and start building—together with investors and industrialists,' he said. Al-Sisi underscored the enormous investment required to develop Egypt's agricultural landscape. Preparing one million feddans for farming, he said, would cost between EGP 200bn and EGP 300bn in infrastructure alone. He cited the 'New Delta' mega-project as a model for integrated agricultural and urban development, expected to accommodate two million families. He also stressed the need for mechanized farming and advanced infrastructure to fully unlock the project's potential. 'We're trying to make the most of every drop of water,' Al-Sisi said, highlighting the role of electricity in expanding agriculture into remote desert areas beyond the national grid. 'This is not a small investment.' In closing, he called on all Egyptians—citizens, farmers, and investors—to join in the national development effort. 'Good intentions alone won't change our reality. We must work together to build a better future for Egypt.'
Daily News Egypt
21-05-2025
- Politics
- Daily News Egypt
Egypt's Al-Sisi, Pakistan's Sharif discuss India-Pakistan truce, Gaza crisis
Egyptian President Abdel Fattah Al-Sisi and Pakistani Prime Minister Shehbaz Sharif discussed the ceasefire agreement between India and Pakistan, the situation in Gaza, and bilateral ties during a telephone call on Tuesday, according to the Egyptian presidency. President Al-Sisi conveyed Egypt's welcome of the ceasefire accord reached between India and Pakistan, an official presidential spokesperson stated. 'The President emphasised the importance of maintaining and sustaining this agreement, and underscored the necessity of finding permanent political solutions to the crisis between the two nations to ensure the security and stability of the South Asia region,' the spokesperson said. Prime Minister Sharif, for his part, thanked President Al-Sisi for the efforts undertaken by Egypt and other nations to de-escalate tensions between India and Pakistan. He also commended the Egyptian president's commitment to supporting regional and international peace and security. The spokesperson, Ambassador Mohamed El-Shennawy, further detailed that the conversation explored avenues for strengthening bilateral relations between Egypt and Pakistan. Discussions particularly focused on cooperation in the economic, commercial, and investment sectors. Both leaders affirmed their mutual interest in exploring broader prospects for collaboration, building upon the close historical ties shared by the two countries. Additionally, El-Shennawy noted that the leaders stressed the importance of joint efforts in combating terrorism and extremism, a commitment consistent with the active roles both Egypt and Pakistan play within their respective regions. The call also addressed pressing regional issues, with the conflict in Gaza being a primary focus, the spokesperson added. The leaders emphasised the necessity of an immediate ceasefire in Gaza and the unimpeded delivery of humanitarian aid to the Strip. They also highlighted the importance of building upon the significant support for the Arab-Islamic plan for the reconstruction of the Gaza Strip, urging its swift implementation to alleviate the humanitarian tragedy faced by the Palestinian people.
