Prime Minister Mostafa Madbouli stressed that all segments of the Egyptian society have extensively taken part at the Economic Conference – Egypt 2022.
The premier’s remarks came on Tuesday 25/10/2022 at the closing session of the conference, which kicked off on Sunday, under the sponsorship of President Abdel Fattah El Sisi.
The government responded to Sisi’s directives on organizing the conference to discuss the situation of the national economy and its future with the participation of a host of key economists, thinkers, experts, legislators and heads of political parties, Madbouli said.
He pointed out that the number of participants at the event exceeded 1,200, but it recorded 250 thousand views online in the past two days. He noted that during the conference 600 proposals covering a wide range of areas were presented, most of them by Egyptian youth and a governmental committee will be set up to study them.
One of the key issues discussed by the three-day conference was the challenges facing the private sector in Egypt, he said.
He said the event sent many messages to the people, highlighting the government’s efforts to prepare a social protection package to be put into effect next month to address the current inflation pressures.
Madbouli said in statements he gave at the end of the conference that the government aims to develop a roadmap for the national economy in the coming period.
The government is keen to adopt sound policies to build an effective partnership with the private sector and cut the costs for doing business in the Egyptian market.
The premier stressed that the government is also committed to abiding by competitive neutrality rules in line with the best international practices.
The state is keen to simplify procedures to help the private sector to access local and international funding easily, he said.
The government seeks to maximize the returns of state-owned assets through having successful partnerships with the private sector, he asserted.
Madbouli said the participants discussed several financing-related issues in the conference, noting that they shed light on the government’s commitment to achieving financial discipline and cutting debts.
The state will go ahead with economic reforms to increase growth rates, he said, commending suggestions to hold the conference annually.
The state seeks to adopt prudential monetary policies to stabilize prices and lower inflation rates, he also said.
He revealed that the final draft of Egypt’s “State Ownership Policy” document is being revised to be referred to the cabinet soon.
The premier added that the government is set to launch the national strategy for national industry within a period of time not exceeding three months.
Source: State Information Service Egypt