Egyptian President Abdel Fattah el-Sisi has inaugurated the first El Alamein - Africa Business Forum in the New El Alamein City. The forum is a result of an Egyptian initiative approved by the African Union. It will be held every two years in El Alamein, organized by the Egyptian government, the African Union Commission, the African Union Development Agency (AUDA-NEPAD), and the African Export-Import Bank.
The forum brings together a high-level participation of African heads of state, senior officials, and leaders from the private sector. Its goal is to promote partnerships between African governments and the private sector. This aims to maximize the role of the private sector in driving sustainable development in Africa and accelerating the implementation of the African Union's Agenda 2063.
The forum seeks to stimulate intra-African trade, promote economic integration, and mobilize partnerships for development projects. It also aims to expand financing and investment opportunities and support promising and emerging economic sectors. The forum features specialized sessions on key economic and development issues, a showcase for major African companies, and a dedicated area for start-ups.
The opening session of the forum included speeches from several high-profile figures, including the Egyptian Minister of Foreign Affairs, the President of the African Export-Import Bank, and the Executive Director of the African Union Development Agency. President Sisi also delivered a speech, emphasizing the importance of economic development and stability in Africa.
In his speech, President Sisi highlighted the challenges facing Africa, including the current energy crisis and its impact on the continent. He called for collective action to address these challenges and achieve sustainable development. The president also emphasized the importance of the private sector in driving economic growth and development in Africa.
The forum's organization coincides with Egypt hosting the 8th Mid-Year Coordinating Summit of the African Union. This reflects the connection between political and economic work within the African Union. The event aims to provide a platform for African business leaders to interact with government officials and explore opportunities for partnerships and investments.
The forum's outcomes are expected to contribute to the implementation of the African Union's Agenda 2063. This agenda aims to promote economic, social, and political integration in Africa and improve the quality of life for African citizens. The forum's success is seen as crucial in achieving these goals and promoting sustainable development in Africa.
Key points
- The forum aims to promote partnerships between African governments and the private sector to drive sustainable development in Africa.
- The event features specialized sessions on key economic and development issues, a showcase for major African companies, and a dedicated area for start-ups.
- President Sisi emphasized the importance of economic development and stability in Africa, and called for collective action to address the continent's challenges.
