Egyptian President Abdel Fattah El-Sisi delivered a speech at the St. Petersburg International Economic Forum in front of Russian President Vladimir Putin. In his speech, President El-Sisi invited all companies participating in the forum and others to engage in the vast investment opportunities available in Egypt, expressing his hope that the forum would produce decisions that alleviate the severity of the global economic crisis.
The Egyptian president discussed the relations between Egypt and Russia, highlighting key projects between the two countries, foremost among them the El-Dabaa nuclear power plant, the development of Egyptian railways in collaboration with Russia, and the establishment of the Russian industrial zone in the Suez Canal economic zone. He also addressed the economic turmoil in the world and its impact on nations' economies, comparing local currencies to hard currencies amid rising prices of fuels and grains.
He noted that Egypt has experienced exceptional events over the past decade that have significantly affected the overall economic situation in the country, emphasizing that the Egyptian people have rallied to overcome this crisis through a clear vision centered on investing in the Egyptian citizen and enhancing their capabilities. He stated, "From this perspective, the launch of Egypt Vision 2030 reflects a long-term strategic plan for the state to achieve the principles and objectives of sustainable development in its economic, social, and environmental dimensions."
He continued, "Based on this vision, the Egyptian government has updated the legislative framework to enable Egypt to attract more foreign investments, making it the leading country in Africa for attracting foreign investments and one of the few countries worldwide capable of achieving a growth rate of 3.3% in 2021 despite the negative challenges posed by the global spread of the Coronavirus." El-Sisi anticipated that the Egyptian economy would grow by 5.5% during the current fiscal year and noted that the country’s non-oil exports increased to $32 billion in 2021.
In conclusion, the Egyptian president extended greetings to the brave and resilient citizens of St. Petersburg throughout history, which also represents a symbol of culture and openness.
