Billions of investments, the return of the pound, and a major economic launch in all fields.. This was a summary of what happened in the economic affairs in the past days.. Let us see more details and find out what is happening and where the future of the Egyptian economy is going.. Stay with us until the end.
In order for us to know that the enemies of Egypt are now living through the worst days of their lives and dreaming of nightmares after all their expectations have collapsed and after the money they spent on advertisements funded to strike the Egyptian economy over the past months has gone.
The most important event that happened in the past days was President Abdel Fattah El-Sisi’s meeting with the heads of a large number of major international companies operating in the industrial sector and participants in the third edition of the annual international forum and exhibition for industries organized by Egypt.
President Sisi explained to the heads of international companies the broad outlines of the industrial breakthrough that Egypt is working on and the incentives that the state is offering to encourage the industrial sector.
President Sisi also stressed the principle of localization of industry, encouraging the use of modern technology in production, and increasing the local component while strengthening small and medium industries in Egypt and increasing their competitiveness. The President said frankly that the Egyptian government will continue to make efforts and take the necessary decisions and measures to remove obstacles for investors.
The second most important event in the economic community is the statements of the Prime Minister, Dr. Mostafa Madboubi, regarding Qatari investments in Egypt in the coming period, and these statements came in conjunction with the visit of the Qatari Prime Minister to Egypt last Wednesday..
According to the information obtained by Banker Egypt and Qatar, they entered into strong discussions to develop investment cooperation, especially in huge projects on the northern coast, and that there is a direct request from the Qatari side to invest in the tourism and hospitality sectors in this region..
There are also major negotiations about developing Egyptian ports and establishing advanced logistics areas. The Qatari side is very interested in investing in these areas as part of its plan to expand the global logistics infrastructure.
Among the important events in Egypt last week was the strong return of the Egyptian pound against the dollar, due to the large and record rise in dollar cash flows and the Central Bank’s plans to attract investments, after Egypt became a major destination for foreign direct investment. The numbers say that we have seen a noticeable increase in investments. Who enters the country, whether in the sectors of renewable energy, infrastructure, or even technology..
With the increase in dollar flows, international companies decided to build factories and operating centers in Egypt. This means more job opportunities and more money entering the economy, in addition to an increase in tourism indicators and numbers, a jump in remittances from Egyptians, and new investment deals on the North Coast.
Among the good news in recent hours was the opening of a new trade artery between Egypt and Europe that will have a major impact on the foreign trade and export sector.
As we followed, Dr. Mostafa Madbouly, Prime Minister, announced the official start signal for the operation of the first “RORO” flight between the Italian ports of Damietta and Trieste.
The importance of the new international trade line between Egypt and Italy: It is the first green corridor between the two countries and aims to transform Egypt into a regional center for transport, logistics and transit trade and open export markets for Egyptian exports of agricultural commodities in the Italian and European markets. This will serve the Egyptian economy
