Back to the complete issue
Sunday, 23 October 2022

Here’s what you can expect at the gov’t’s Egypt Economic Conference 2022

The Madbouly government’s highly-anticipated economic conference kicks off today and runs through Tuesday. The gathering will see government officials, experts, and economists come together with the aim of creating a roadmap for the country’s economic future.

Day 1: Today will see a discussion of macroeconomic policies, including how successive global economic crises and inflationary pressures are impacting our economy and what needs to be done to ensure sustainable growth and boost employment, according to a cabinet statement. May we suggest a focused program that puts exports and FDI at the center of our economic policy? With a private-sector-backed investment promotion authority?

Tomorrow, delegates will discuss the state ownership policy document — the government’s roadmap on restructuring the economy in favor of the private sector and ensuring competitive neutrality — according to a separate statement. A second session tomorrow will look at how to boost FDI to the private sector, especially for green projects. Day 2 of the conference will also see sessions dedicated to priority sectors, including renewable energy, electricity, EVs, waste-to-energy, desalination, and real estate.

Day 3 is all about industry. The third and final day of the conference will address ways to stimulate industrial investment, develop national industries, and address the financing gap for manufacturers, as well as solutions to recent import troubles, according to another cabinet statement.

Organizers of the National Dialogue have submitted eight questions to the government to address at the economic conference. The dialogue’s economic subcommittees are asking the state to respond to questions on its plans to tackle further inflation in the case of a more flexible EGP-USD rate; to narrow the budget deficit and bringing down public debt; to stimulate private investment and cut back on public spending; to prioritize industry; as well as questions about agriculture, tourism, and social welfare spending.

A technical committee is already looking into some 480 economic proposals for policies and measures to increase the flexibility and competitiveness of the Egyptian economy. They’re being filtered and passed on to the relevant authorities. At the end of the three days, a closing session will be held to draw attention to the conference’s outcomes.

Want to weigh in throughout the conference? Download the app. The Madbouly government has released the economic conference app for Android and iOS to give participants the chance to follow the proceedings and share their input. The conference’s sessions are set to be livestreamed in full online.

REMEMBER- This is one of two big state economic conferences taking place this week. Government officials and members of the private sector will also meet Wednesday-Friday for a conference marking 50 years of bilateral ties with the United Arab Emirates. Wednesday is the big day at the gathering as delegates meet for an economic conference.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.