Egypt's economic development summit commences tomorrow, high level of interest anticipated

Published March 12th, 2015 - 12:35 GMT
Egypt's government will promote 60 projects at the much-publicised economic development conference to be held in the resort town of Sharm El-Sheikh on the 13-15 March.
Egypt's government will promote 60 projects at the much-publicised economic development conference to be held in the resort town of Sharm El-Sheikh on the 13-15 March.

Egypt's government will promote 60 projects at the much-publicised economic development conference to be held in the resort town of Sharm El-Sheikh on the 13-15 March, the minister of investments, Ashraf Salman announced in a press conference on Thursday.

The conference is anticipated to lure back international investors scared off by four years of political turmoil since the 2011 uprising that toppled longtime autocrat Hosni Mubarak.

There are three aims for the conference according to Naglaa Al-Ahwany, the minister of international cooperation. They are to present the government's economic vision, present investment opportunities in a variety of sectors, and propose specific projects, she said.

Salman stated that the government has already been promoting ten of these projects and expects to sign final agreements for around six of them at the conference, adding that one of the projects is a power station worth $3 billion.

Investment banks will present 30 of these projects with detailed studies while the rest will be presented by government ministries, he said


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