Egypt's Prime Minister, Dr. Mostafa Madbouly, has inaugurated the first Africa-El Alamein Business Forum in the New El Alamein City. The forum aims to promote economic integration and development in Africa. Madbouly stated that the forum represents a platform for African countries to enhance dialogue and cooperation between governments, the private sector, and development institutions. The event is attended by several ministers, business leaders, and representatives from various African countries and international organizations.
The Prime Minister emphasized that the forum is not just a one-time event, but a sustainable platform for dialogue and cooperation. He expressed his appreciation for the participants and highlighted the significance of the forum in promoting economic integration and development in Africa. Madbouly also mentioned that the forum will be held every two years in Egypt, in line with the African Union's decisions and orientations.
Madbouly highlighted the importance of the private sector in driving economic growth and development in Africa. He stated that the government sets the frameworks and policies, while development institutions provide financing and risk mitigation tools. The private sector, he added, is a key driver of investment, innovation, and job creation. The Prime Minister also emphasized the need for African countries to work together to address common challenges and unlock opportunities for growth and development.
The forum is being held in collaboration with the African Union Commission, the African Union Development Agency (NEPAD), and the African Export-Import Bank. Madbouly noted that the event reflects a shared understanding that achieving economic and social development requires collaboration between governments, continental institutions, financial institutions, and the business community.
The Prime Minister also highlighted Egypt's commitment to supporting African economic integration and development. He noted that Egypt, under the leadership of President Abdel Fattah El-Sisi, has played an active role in supporting NEPAD and promoting African development priorities. Madbouly emphasized that Egypt's efforts are driven by a belief that Africa's progress is a shared responsibility and that the continent's future must be built through partnerships and cooperation.
The forum provides a platform for business leaders and investors to discuss opportunities and challenges in Africa. Madbouly noted that the continent has immense potential, with vast natural resources, a large market, and a youthful population. However, he also acknowledged that Africa faces significant challenges, including infrastructure deficits, high capital costs, and trade barriers.
The Prime Minister concluded that the forum offers a unique opportunity for stakeholders to engage in dialogue and collaboration. He expressed his hope that the event will lead to new partnerships and investments that can drive economic growth and development in Africa. The forum is expected to contribute to the implementation of the African Union's Agenda 2063 and the African Continental Free Trade Area (AfCFTA) agreement.
Key points
- The Africa-El Alamein Business Forum aims to promote economic integration and development in Africa.
- The forum provides a platform for dialogue and cooperation between governments, the private sector, and development institutions.
- Egypt is committed to supporting African economic integration and development, and the forum reflects its efforts in this regard.
