Nasr: Sisi laid down ambitious vision for placing Egyptian economy on right track

SHARM EL SHEIKH, Egypt - 5 August 2018: Investment and International Cooperation Minister Sahar Nasr said President Abdel Fattah El Sisi had laid down an ambitious vision for a comprehensive socio-economic reform program to build a powerful state and place the Egyptian economy on the right track.

She made the remarks during annual meetings of the African Caucus for the World Bank (WB) and the International Monetary Fund (IMF) which kicked off on Sunday in the Red Sea resort of Sharm El Sheikh under the patronage of Prime Minister Moustafa Madbouli.

She said international institutions, including the WB and the IMF, have lauded the constitutional, institutional and structural mechanisms for improving the investment climate and business environment in Egypt.

The government seeks to realize national goals and at the same time is giving top priority for the development in Africa, she said, stressing commitment to the African Union's agenda for achieving the 2063 global development goals.

She said Egypt is furthering cooperation with fellow African countries under certain programs for economic integration.

She added that the meetings offer an opportunity for forging a unified vision for promoting cooperation among African states, the World Bank and the IMF.

Egypt - as the head of the African group at the WB and the IMF - urges international financing institutions to play a larger role in supporting economic development in Africa, she said.

She added that the meetings should support national programs and projects as well as economic and trade cooperation.

She called for focusing on power linkage projects as well as new and renewable energy resources in order to magnify the harnessing of natural resources for sustainable development.

She also invited the attendees to partake in the Africa 2018 conference due to be held under the patronage of the president in Sharm el Sheikh to promote investment as well as women's role at the economic level.