President El-Sisi Meets with Prime Minister And The Economic Ministerial Committee

President El-Sisi, held a meeting with the Economic Ministerial Committee in the presence of the Prime Minister Dr. Mostafa Madbouli. The committee consists of the following members: Central Bank of Egypt Governor Mr. Tarek Amer, Minister of Planning and Economic Development Dr. Hala El-Saeed , Minister of International Cooperation Dr. Rania Al-Manshat, Minister of Finance Dr. Mohamed Moet, Minister of Public Enterprise Sector Mr. Hisham Tawfik, Minister of Trade and Industry Mrs. Neveen Gamea, President’s Adviser for Financial Affairs Major General Mohamed Amin and the Chairman of the Suez Canal Economic Zone Authority Eng. Mohamed Yehia Zaki.

As stated by the Spokesman for the Egyptian Presidency the meeting followed up on the strategic goals set for the Suez Canal Economic Zone and the economic and financial performance of the country along the investment climate.

The President directed the attendees to focus the Suez Canal Economic Zone strategy on increasing its investment opportunities that would lead to the localization of technology, possessing industrial capacities and providing employment opportunities in coordination with all relevant government stakeholders and in integration with the comprehensive development process of the port’s system and shipping services on a national level.

The meeting also saw a presentation regarding the current economic indicators and the up-to-date position of the payments balance in 2020. Based on the results, Egypt was among the very few countries that were capable of achieving real and positive growth in the midst of the COVID-19 Pandemic, and it is also considered the highest growth rate among emerging countries which reflects the efficiency of the government in dealing with the Pandemic’s repercussions in a balanced manner.

Hence, the measures taken by the government in order to ameliorate the investment climate and attract foreign direct investments to Egypt were showcased; in which Egypt assumed the first position among African nations and the second position among Arabic nations in 2020 for foreign direct investment attraction. 

The Spokesman also added that the meeting demonstrated the various financial packages for different governmental and private sectors in 2020 through the nation’s development partners. The demonstration included the bilateral and multilateral financial packages to finance the comprehensive development policies of the nation that amounted to almost $10 billion.

Published BY: presidency.eg