16 June 2019 08:58 AM

Sisi meets CEOs of German, world companies in Munich

Saturday، 16 February 2019 - 10:51 AM

President Abdel Fattah El Sisi on Friday attended a lunch banquet hosted by organizers of the Munich Security Conference (MSC), in the presence of German Economy Minister Peter Altmaier and the MSC chairman Wolfgang Ischinger, as well as a number of CEOs of German and world companies.

During the event, President Sisi said Egypt looks forward to expanding the scope of cooperation over the coming phase and attracting further direct foreign investments, in addition to establishing joint projects in different fields, according to Presidential Spokesman Bassam Rady.

Also, the president briefed the attendees on economic achievements made by the country, since the launching of Egypt's economic reform program, which is based on taking a package of financial and monetary measures to address structural imbalances, balance the public budget and create a conducive business climate, the spokesman said.

Those measures yielded positive results in macroeconomic indicators, as evidenced by upgrading Egypt's credit rating by international rating agencies, the spokesman quoted President Sisi as saying.

In a related context, President Sisi talked about Egypt's economy advantages, notably the provision of advanced infrastructure and low-cost skilled labor, as well as unprecedented financial and tax incentives stated in the new investment law, the spokesman noted.

Moreover, the president pointed out that the government is executing a raft of mega national projects, with the aim of stimulating the country economy and increasing growth rates, as well as strengthening Egypt's capacity for power production and diversifying its energy sources.

For their part, the participating CEOs discussed with the president means of fostering bilateral cooperation and their willingness to inject more investments into the country, lauding the state of stability witnessed by Egypt at the security and economic levels, the spokesman said.

MENA

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