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Egypt focuses on developing Africa

With the goal of promoting investment opportunities in Africa and Egypt and signing development and investment agreements, Egypt organized the Africa 2019: Investment for Africa Forum, as President Abdel Fattah al-Sisi holds the presidency of the African Union.
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CAIRO — In cooperation with the Ministry of Foreign Affairs and Ministry of Trade and Industry, the Ministry of Investment and International Cooperation (MIIC) organized the Africa 2019: Investment for Africa Forum, which kicked off Nov. 22 in the new administrative capital east of Cairo. The two-day conference was held in the presence of a number of African heads of state and ministers, in addition to nearly 2,000 people, including representatives of Egyptian development partners, businessmen and investors. The conference aims to promote investment opportunities in Africa and Egypt, and to sign development and investment agreements with development partners, African countries and the private sector.

The MIIC noted in a press statement Nov. 24 that 13 deals worth $3 billion were signed at the conference. The forum made seven recommendations, including to call on international financial institutions and investment funds to finance infrastructure projects such as road networks, ports, airports, railways and energy projects. It also stressed the need that international financial institutions make new packages to fund integration projects in Africa and to carry on with the economic reforms and policies for a better investment environment in order to further direct foreign investments in the continent.

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