The National Bank of Abu Dhabi (NBAD) will hold an “Egypt on the Rise” conference on 27 May, addressing Egypt’s ability to collect necessary foreign investment.
The conference will also discuss the steps the government and businesses need to take to encourage investments.
“Egypt secured close to $60bn in investment pledges at the Economic Conference last March in Sharm El-Sheikh,” the bank’s statement read. “However, President Abdel Fattah Al-Sisi said that Egypt needs no less than $200bn to $300bn to bring real hope for the 90 million Egyptians.”
The discussion will take place between Carbon Holdings CEO Basil El-Baz, co-founder & managing director of Qalaa Holdings Hisham El -Khazindar, along with the head of merchant banking at NBAD Omar Mehanna and Ahmed Badreldin, the senior partner at Abraaj Capital.
The event will be attended by over 100 senior representatives of Egyptian co-operations, as well as international and local investors.
“Over the past year, the Egyptian government has made real progress by implementing meaningful structural reforms, which have put in place the stability needed for foreign capital to return to the market,” NBAD’s Group CEO Alex Thursby said.
“However, with around $60bn of foreign direct investment targeted over the next four years, Egypt needs to ensure the environment remains attractive for foreign investors. NBAD has been in Egypt for 40 years and is committed to its role as a channel for international capital into this rapidly emerging market,” he added.