On Sunday, 23 September, President Abdel Fattah El Sisi attended a business dinner hosted by the U.S. Chamber of Commerce and the Egypt-U.S. Business Council, which included a number of CEOs from major U.S. corporations operating in various sectors.
According to a statement released by the Office of the Presidency, President El Sisi “confirmed Egypt’s commitment to boosting the economic partnership between Egypt and the U.S. and to promoting them toward broader prospects for the benefit of the two countries.” President El Sisi also “confirmed that the Egyptian-American partnership was and still is one of the cornerstones for security and stability in the Middle East, particularly as Egypt is the largest recipient of U.S. investment in Africa and the second in the Middle East,” adding that “the U.S. remains one of the largest and most important investors in the Egyptian market.”
During the dinner, President El Sisi “underlined Egypt’s resolve to double its reform and development efforts so as to improve the living standard of the Egyptian citizen and become a catalyst for growth in the entire region,” and he also “extended an invitation to American companies to step up cooperation and boost investment in all promising areas in Egypt.”
Next month, the American Chamber of Commerce and the Egyptian-American Business Council will lead a visit to Egypt with representatives from 60 major U.S. companies to explore investment opportunities throughout the country.
For more information, see the below release from the Office of the Presidency.
President El Sisi Attends U.S. Chamber of Commerce, Egypt-U.S. Business Council Business Dinner
President Abdel Fattah El Sisi attended on Sunday a business dinner hosted by the U.S. Chamber of Commerce and the Egypt-U.S. Business Council, with the participation of a number of CEOs of major U.S. corporations operating in various sectors.
The Chairman and CEO of the Apache Corporation and Chairman of the Egypt- U.S. Business Council, Mr. John Christmann, welcomed President El Sisi’s visit to New York. He lauded the steady improvement in the Egyptian economy and the successful measures undertaken by Egypt to improve the economic situation and promote investment. Mr. Christmann underscored the Business Council’s resolve to further strengthen economic and trade relations between the two countries across various fields. The Vice President of the U.S. Chamber of Commerce, Mr. Myron Brilliant, also welcomed the President and the annual meeting held with the chamber to explore ways to bolster economic relations and cooperation between Egypt and the U.S. Mr. Brilliant reviewed the chamber’s various activities to enhance trade between the two countries.
President El Sisi confirmed Egypt’s commitment to boosting the economic partnership between Egypt and the U.S. and to promoting them toward broader prospects for the benefit of the two countries. He confirmed that the Egyptian-American partnership was and still is one of the cornerstones for security and stability in the Middle East, particularly as Egypt is the largest recipient of U.S. investment in Africa and the second in the Middle East. He added that the U.S. remains one of the largest and most important investors in the Egyptian market.
President El Sisi reviewed developments in Egypt, highlighting the huge achievements in stabilizing the pillars of the state, reinforcing stability and security, and accomplishing tangible steps in the implementation of an integrated economic reform program that bolsters the desired stability in macroeconomic indicators and provides radical solutions to decades-old structural economic problems. The President confirmed that Egypt was able to carry out necessary structural reforms in the areas of industry, investment environment and export, and was successful in the implementation of effective social programs to protect the most vulnerable brackets.
President El Sisi asserted that Egypt made several bold and unprecedented economic reform decisions, to complement the reform program developed in partnership with the International Monetary Fund, IMF, and in line with the national strategy for sustainable development “Egypt Vision 2030”. The President saluted the Egyptian people’s determination and resolve to address the chronic and longstanding imbalances in the national economy and their readiness to endure the burden patiently, as this was the only way to improve the living standard and quality of their lives.
President El Sisi asserted that the state is moving ahead with all determination to implement a series of mega national projects launched since 2014. He added that Egypt has also achieved huge progress in the development and upgrading of the national road network across the country through mega projects in roads and bridges, which will have a positive impact on investment and trade in Egypt and the region. President El Sisi confirmed that Egypt is turning into a regional hub for oil and gas trade and circulation, which will help secure the energy needs of the local market, support economic development, and offer opportunities to inject more investments in this industry.
The President underlined Egypt’s resolve to double its reform and development efforts so as to improve the living standard of the Egyptian citizen and become a catalyst for growth in the entire region. President El Sisi extended an invitation to American companies to step up cooperation and boost investment in all promising areas in Egypt.
The President and the CEOs of major US corporations engaged in an open discussion, during which they lauded the outstanding performance and outcome of the economic reform program in Egypt. They expressed interest to boost the size and scope of their businesses in the Egyptian market.
In response to the attendees’ queries, President El Sisi reiterated that relations with the U.S. are strategic and robust, stressing that these relations are increasingly important in light of the developments in the Middle East over the past years and the spread of terrorism in the region. The President confirmed that stability in Egypt is not only based on security efforts. He added that it is also based on the Egyptian people’s belief in the inevitable need to maintain stability, preserve their resources and supreme interests and not to bow to terrorism. He asserted that Egypt’s stability has enormous repercussion on the region and the world and contributes to restoring security and stability and pushing forward development efforts in the region.
President El Sisi stated that Egypt aims to enhance true citizenship and full equality among all Egyptians without discrimination. He emphasized that national unity in Egypt has been firm over the ages and that Egypt only sees its citizens from a national perspective that upholds the values of citizenship, non-discrimination, tolerance, and full partnership in the homeland.
The meeting reviewed investment opportunities available in the various sectors in Egypt, including infrastructure, logistics, communications and IT, energy, pharmaceuticals and auto industry. President El Sisi confirmed that Egypt is committed to further engaging with American investors to get a better understanding of the problems and impediments they might encounter and work on solving them.