Egypt’s President Abdel Fattah al-Sisi witnessed on Friday the inauguration of the Investment for Africa Forum.
Sisi welcomed the forum’s participants saying, “I welcome you back in Egypt, in the capital that asserts the possibility of making the dreams come true.
“We will be having annual discussions to achieve the desired development in a world full of difficulties and challenges,” the Egyptian president added.
Addressing the Investment for Africa Forum 2019, Sisi stressed that the entry into force of the African Continental Free Trade Agreement (AfCFTA) on 30 May was a milestone on the road to continental integration, with Africa being one of largest trade regions in the world with 1.2 billion people and a GPD of $2.5 trillion.
“We have to find solutions based on regional integration to transform Africa into a global industrialisation hub to provide job opportunities for African citizens and attract foreign investments,” El-Sisi added.
“Africa’s success in achieving the Sustainable Development Goals requires accelerating the pace of infrastructure development projects through cross-border projects, which are among the priorities of the African Union, including the project linking Cairo to Cape Town, the North-South electricity-linking project, and linking the Mediterranean Sea to Lake Victoria,” he added.
Sisi called on regional and international institutions and Africa’s development partners to participate in achieving their goals and ambitions through financing the needs of development and necessary infrastructure.
He stressed that development in Africa requires the participation of the private sector as well, noting that this process is not only the responsibility of governments.
The two-day forum is organised by the Ministry of Investment and International Cooperation in collaboration with the ministries of foreign affairs and trade.
A large number of African heads of state and government, along with high-profile business figures from around the world are taking part in the forum, with a view to stimulating investment in Africa.
Source: Ahram Online
