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Dr. Ahmed Nazif, the Prime Minister confirmed that the Egyptian Government adopted a strong plan to decrease the negative repercussions of the world financial crisis. The plan includes the continuation of offering the infrastructure projects in front of the private sector especially through the partnership plans between the public and private sectors. A comprehensive legislation concerning the partnership between the public and private sectors is currently being prepared in addition to providing LE15 billion incentives to the most damaged sectors by the crisis. Moreover the government encourages the investment in the internal trade and in the new progressing industries. These steps will lead to achieving $10 billion foreign direct investments in 2010 besides $14 billion or more in 2011, Nazif added.
This came in the speech of Rachid Mohamed Rachid, Minister of Trade and Industry, on the behalf of the Prime Minister, on Wednesday 30/9/2009 at the opening of the First Euro-Mediterranean Conference on Financing. The Conference was attended by Eng. Amr Assal, IDA Chairman, Dr.Alaa Ez, the Conference Secretary General, and Mr. Galal Al Zorba, the President of the Federation of Egyptian Industries. The main challenge is to define the basic financing resources so as to implement these projects and provide these financing resources to the public and private sectors in the South Mediterranean Countries. He also praised the European Union's role in providing the finance to the important development projects in the Mediterranean Sea Region.
Al Zorba indicated that the 2 day conference will encompass a number of the leaders of European and International banks where they offer a subsidy reaches $22 billion to benefit the Egyptian enterprises.
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