The Euromoney Egypt Conference 2014 on 16 and 17 September was a huge success. The conference gathered over 1,200 delegates around 200 of which were investors and representatives of major institutions and international companies, which is twice the number of investors who attended the conference last year. This is a strong indicator of Egypt’s return to the global economic map.
We were honoured to have H.E. Mr Hani Kadry Dimian, Minister of Finance and H.E. Mr Ashraf Salman, Minister of Investment open the conference on morning of Tuesday 16th September who both gave an important insight into the government’s plans for the new economic path.
Mr Kadry said that Egypt now has a strong political will for change and that the government aims to achieve political stability. He said one of the key things for the economy was building confidence but also to have a socio-economic structure that ensures sustainability. Mr Kadry said that this was achieved through a number of steps including decreasing energy subsidies and changing the tax system. He also stated that their new polices are addressing the bureaucratic impediments that face Egypt’s economy.
Following on from Mr Kary, Mr Salman Ashraf, Minister of Investment, said that they have a long term plan by 2030, led by Ministry of Planning. He stated that the current programme is based on three elements: structural reformation, stimulus development and legislative reformation. He stated providing a good environment for investors through the amendment of legislation, improving the efficiency of their institutions and easing investment procedures as steps for implementing the reformation plan.
Our international line-up of speakers was headed by Ms Keiko Honda, Executive Vice President and Chief Executive Officer of MIGA (Multilateral Investment Guarantee Agency – World Bank Group) who gave a presentation explaining MIGA’s role in mobilising international capital in Egypt. We were very pleased to welcome two key advisers to the government. Mr Bozidar Djelic, Managing Director of Lazard Freres who are advising on debt management and Mr Richard Shediac, Managing Director for Middle East of Strategy& who are advising on developing investment strategies. They both took part in live interviews on stage.
Throughout the two day events we had sector specific panel discussions on tourism, energy, food and agriculture, transportation, housing and the financial sector. We had a good and diverse range of Egyptian and international speakers. The conference had a fantastic buzz this year and there was a new sense of hope and optimism amongst our audience. We hope Egypt continues successfully in its new economic landscape. We look forward to coming back in September 2015!
"One of the main advantages events such as the recent Euromoney conference offers is that it brings together market and economic leaders from all over the world. Having the opportunity to interact and exchange ideas and opinions is an integral element in bringing about much needed change. I truly enjoyed this year's event, and feel that many valuable ideas and thoughts have been presented and discussed. I look forward to attending future Euromoney conferences."
Hisham Ezz Al-Arab, Chairman & Managing Director, Commercial International Bank, Egypt.
"The Euromoney Egypt 2014 Conference came timed with Egypt marking its first steps toward economic recovery and prosperity. The Ministers speakers were key names and extremely relevant to what's happening in Egypt. The panels' subjects were extremely rich and relevant and speakers well picked. Our customers who attended were all overwhelmed and went back with valuable insights and market update. Euromoney added great value this year and helped put a good lens on projects such as Suez Canal and the upcoming Egypt Investors Conference in February 2015”
Amr El Shafei, Head of Corporate Banking, Barclays Bank Egypt and Interim Regional Head of Corporate Banking, Egypt, Kenya and Tanzania, Barclays Bank
“Euromoney is one of the best investment gatherings in Egypt. It is a pleasure to take part in such an informative platform, bringing together some of the country’s leading industry players and economic thinkers.”
Christian H Muhr, Vice President Operations, Hilton Egypt and Levant.
“The very strong turnout for Euromoney’s Egypt 2014 conference underlines the local and international appetite for hard-hitting discussion and analysis of the challenges facing the Egyptian economy and the progress made over the last year. Euromoney’s ability to bring together the key policy-makers and its understanding of the real agenda made this a must-attend for any serious investor in Egyptian business and capital markets.”
Bill Farren-Price, Founder and Chief Executive Officer, Petroleum Policy Intelligence