Egyptian engineer and member of the Senate's Housing, Local Administration, and Transportation committee, Helmy Jawish, stated that hosting the 'Africa El Alamein Business Forum' presents a significant opportunity for Egyptian contracting, real estate development, and engineering consulting companies to expand into African markets. This expansion will allow them to capitalize on the continent's growing needs for infrastructure and urban development projects.
According to Jawish, Egypt's recent experience in establishing new cities, developing road networks and utilities, and implementing housing and infrastructure projects can be transformed into real investment opportunities for Egyptian companies in African countries. This is particularly relevant as the continent moves towards cross-border projects in transportation, energy, logistics, and urban development. Egypt's expertise can be a valuable asset for African nations.
The next phase requires a shift from Egyptian participation in economic events to building long-term partnerships. Under these partnerships, Egyptian companies will undertake integrated projects, either through contracting, development, or management and operation, generating economic returns and opening new markets for the private sector. This approach will enable Egyptian companies to play a more significant role in African development.
To maximize the benefits for Egyptian companies, Jawish emphasized the need for flexible financing packages for projects, combining bank financing with investment and export risk guarantee tools. This will make financing terms more suitable for long-term projects and encourage Egyptian companies to engage in infrastructure and urban development projects without bearing the high risks associated with new markets.
The 'Africa El Alamein Business Forum' can serve as a platform to connect Egyptian companies directly with African investment opportunities, particularly in sectors related to urban development and infrastructure. This will enhance Egypt's economic presence in the continent and support the growth of engineering and construction service exports. The forum is expected to facilitate partnerships and collaborations.
By leveraging the experience and expertise gained from implementing large-scale projects in Egypt, Egyptian companies can offer comprehensive solutions to African countries. These solutions can encompass various aspects of project development, from planning and design to implementation and operation. This comprehensive approach will enable Egyptian companies to compete effectively in the African market.
The 'Africa El Alamein Business Forum' is an opportunity for Egypt to share its expertise and experience in urban development and infrastructure with other African countries. By doing so, Egypt can strengthen its economic ties with the continent and contribute to Africa's growth and development. The forum is a significant step towards achieving these goals.
Key points
- Egypt sees the 'Africa El Alamein Business Forum' as a chance to export its expertise in urban development and infrastructure to the African continent.
