Kholy applauds Sisi’s insightful address on Egypt's economic boom

Dr. Sayed El-Kholy said that the government by organizing the Egyptian Economic Conference succeeded in gathering participants from different fields

Dr. Sayed El-Kholy, Professor of Economics, at Ain- Shams University, said that the government by organizing the Egyptian Economic Conference 2022 succeeded in gathering participants from different fields to discuss the country’s economic development, problems and solutions.

In a phone call with (Cairo Local Time), El-Kholy added that President Abdel Fattah El-Sisi’s speech during the conference reflected his eagerness to improve the quality of life for the Egyptians. He mentioned that both the president and the government work on decreasing unemployment and attracting more investments.

He pointed out that Egypt in the near future will be an industrial hub because of its location and mineral resources. He further mentioned that the financial international institutions as Standard and Poor's (S&P), the International Monetary Fund (IMF), and the European Bank for Reconstruction and Development (EBRD) have positive signs for the economic stability in Egypt, pointing to the economic growth rate in 2022 which hit 6.6 percent.

El-Kholy also referred to the assurance of President Sisi on underscoring the industrial sector by utilizing our resources as well as supporting the integration between the private and public sectors in order to add value to our economy.

Highlighting the results of the economic conference, he added that the brain storming that took place during the conference between the industrial sector and the government will bring new solutions in order to achieve Egypt’s vision 2030. He believes that the misuse of public resources provided us with very minimal income.

Dr. El-Kholy said that the government had adopted measures to attract foreign investment referring to logistics from infrastructure and power supply that are already available and pointing to new regulations, new simplified process, new tax system needed in addition to more invectives to be issued to bring more foreign direct investment (FDI).

Finally, El-Kholy stressed that President Sisi is a leader who always succeeded in gathering Egyptians to work as one hand, believing that we are on the right track. “Egypt will be in a different place in the world map next year,” he concluded.

Under the auspices of President Abdel Fattah El-Sisi, the Egyptian Economic Conference 2022, was held in the New Administrative Capital in Cairo for three days to draw a roadmap for the future of the Egyptian economy.

(Cairo Local Time) is aired from Sunday to Thursday on Nile TV International and this episode is conducted by Amal Mokhtar.