Egypt is taking rapid steps towards change and reform for a more sustainable economy, the country’s President Abdel Fattah el-Sisi said.
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An investment conference between Egypt and the EU is being held in Cairo on Saturday and Sunday. During it, an agreement is expected to be signed on the allocation of a tranche of one billion euros to Cairo by the European Union.
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“Egypt is taking rapid and confident steps towards change and reform for a more sustainable economy,” el-Sisi said during the opening of the conference.
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The Egyptian President noted that the authorities have taken a number of measures to expand the capabilities of the private sector and increase the country’s competitiveness.
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El-Sisi added that the conference is an opportunity to present investment opportunities in Egypt.
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According to the head of the European Commission, Ursula von der Leyen, companies from Europe and Egypt will sign agreements worth about 40 billion euros during the conference.
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In mid-March, al-Sisi announced that Cairo would receive about 7.4 billion euros from the European Union to support the economy. Of this amount, 5 billion will be allocated as loans.
