Egypt Daily News – In today’s speech at the BRICS Business Forum in Moscow, President Abdel Fattah el-Sisi highlighted Egypt’s commitment to economic reform and development amidst global challenges. Key points from his address include:
- Appreciation for the BRICS Summit: President Sisi recognized the summit’s role in promoting investment, inter-trade, and joint projects to better serve the aspirations of nations.
- Global Context: He emphasized the need for collaborative efforts to address current international challenges and crises, underscoring the importance of sustainable development.
- Role of the Private Sector: President Sisi noted that the private sector and business councils are crucial partners in advancing economic initiatives and overcoming obstacles.
- Economic Reforms: Acknowledging Egypt’s path toward reform, he mentioned significant changes, such as imposing a cap on government investments to boost private sector opportunities and launching a government offerings program supplemented by tax incentives and customs exemptions.
- Investment in Key Sectors: The Egyptian government is focused on developing various sectors, including information technology, manufacturing, green hydrogen, and transportation logistics, aligned with broader economic goals.
- Suez Canal Economic Zone: President Sisi highlighted investment opportunities in the Suez Canal Economic Zone, referencing Egypt’s participation in global trade initiatives.
- Youth Potential in Africa: He pointed out Africa’s future potential, driven by its young population, emphasizing the continent’s significance in global economic dynamics.
- Call for Results: The President expressed hope that the forum would produce tangible outcomes, fostering enhanced investments and economic cooperation, particularly focusing on human resource development as a key element for progress.
The President’s Speech in full:
In the name of God, the Most Gracious, the Most Merciful
His Excellency President Vladimir Putin.. President of the Russian Federation;
Your Majesties and Excellencies.. Heads of states and governments
Members of the BRICS group of countries;
Ladies and gentlemen, representatives of the business sector;
Ladies and gentlemen;
I would like to begin by expressing my utmost appreciation to His Excellency President Vladimir Putin, President of the Russian Federation.
On the ongoing efforts during the Russian presidency of the assembly for this year… And the relentless effort that has been put in… To promote the frameworks of cooperation among BRICS countries at all levels. Where the meetings, hosted by various ancient Russian cities, contributed… In deepening the bonds of relations and frameworks of cooperation between our countries.
In the same context, we appreciate the holding of the BRICS Business Forum. Which reflects the commitment to developing relations between the member states of the union.. Contributing to the enhancement of investments and inter-trade.. And the joint projects, which will undoubtedly lead to the enhancement of our efforts… To meet the aspirations of our peoples and achieve the desired economic growth.
Ladies and gentlemen,
This forum is being held at a time when the world is witnessing unprecedented and successive international challenges and crises. It requires the concerted efforts of everyone.
To find effective solutions for it… In addition to intensifying the work… On driving the path of sustainable development.. And it is primarily a shared responsibility. The private sector and business councils play a major role in it. As they are indispensable partners in that regard.
Therefore, this forum represents an important platform. It allows for the exploration of various investment and commercial opportunities among the member countries. And enhancing cooperation between private sector institutions.. By leveraging the competitive advantages of each country… To launch joint projects… Contributing to the enrichment of economic integration among the member states… The role of BRICS is being magnified as a prominent economic bloc.
In the increase of global economic growth… Especially in light of what our countries possess.. From tremendous economic and investment opportunities… Especially in the fields of renewable energy, digital transformation, and manufacturing industries.. Which has become one of the most important pillars of achieving development.
Dear attendees,
Egypt is moving forward with confident strides… On the path of economic reform and comprehensive development… Towards a more sustainable economy… And the ability to withstand crises… In this context, the government has recently taken a series of ambitious steps and measures.
To improve the investment climate and enhance the role of the private sector in leading economic development.. In addition to overcoming the obstacles faced by investors… Among the most notable of those reforms: imposing a cap on government investments.. With the aim of providing more opportunities for the private sector… And continuing the implementation of the government offerings program.. Within the framework of the state ownership document.. In addition to providing a package of customs exemptions and tax incentives… Which aim to simplify bureaucratic procedures.
As Egypt continues its efforts… To develop the sectors of telecommunications and information technology, manufacturing industries, and new and renewable energy. Especially green hydrogen… In addition to continuing the implementation of giant infrastructure projects… And the development of the transportation and communication system and ports, in various parts of the country.. In line with our plans and ambitious goals… To maximize the benefit from Egypt’s unique and strategic geographical location.
And perhaps one of the most ambitious Egyptian projects… The Suez Canal Economic Zone.. Which involve significant investment opportunities.. Whether in terms of providing a diverse industrial base… Or export features for all regions of the world.. In light of Egypt’s membership in many agreements and regional free trade areas… Which make Egypt the best route to access promising markets, especially in the African continent. Which has become the continent of the future, in light of the economic and investment opportunities it possesses.. And a youth density of about 65% of its population.
Ladies and gentlemen,
In conclusion, I take this opportunity… To express our sincerest wishes for this forum to yield tangible results… It contributes to enhancing investments and economic cooperation between our countries. With giving utmost importance to investment in human resources… As a component and a fundamental condition for achieving development and progress in our country.
Thank you very much..
And peace be upon you, and God’s mercy and blessings.
Overall, President Sisi’s speech underscores Egypt’s proactive approach to economic reform and its vision for a sustainable, private sector-driven economy while promoting regional cooperation in the context of BRICS.
