President Mubarak said that the convening of World Economic Forum in Sharm El Sheikh is a clear cut indication that we are moving in the right direction.

In exclusive statements to the Editor of "Al Gomhuria" newspaper the President said that the big turnout in the World Economic Forum indicates that Egypt's economic future is promising, adding that the projects and achievements so far accomplished in all domains would deepen confidence in our economy.

The President said that economic reforms taking place in Egypt during the past period turned Egypt into a destination for world investments.

The President also said that incentives extended to Egyptian, Arab and foreign businessmen have opened up wide horizons for manpower.

Mubarak reiterated that the convocation and success of the World Economic Forum (WEF) was a further proof of the great confidence invested by major economic and financial corporations in the Egyptian economy.

This signifies that Egypt was placed atop the emerging markets appealing to foreign investments, he added.

Mubarak mentioned that he seized the opportunity of Sharm WEF session to serve regional issues, chiefly the Palestinian cause, Iraq, Syria-Lebanon file, Iran's nuclear dossier and terror-combat.

He stressed that achieving stability in the Mideast was instrumental in luring more investments to serve the interests of the peoples of the region.

Mubarak said that he will meet with Israeli Prime Minister Ehud Olmert in Sharm El Sheikh following the premier's visit to the United States.

"Talks will take up means to revive the Mideast peace process before holding a three-way meeting with Olmert and Palestinian President Mahmoud Abbas", he said.

Mubarak noted that his talks with the Israeli delegation to the WEF dealt with the need to improve the living conditions of the Palestinian people and transferring humanitarian aid to alleviate their suffering.

He maintained that improving the Palestinian living conditions would render positive results on the Mideast peace process.