By Daily News Egypt
Minister of Investment, Ashraf Salman will inaugurate the third edition of Egypt’s Partnership for Development Initiative conference on 10 November, according to a Wednesday statement.
The conference will discuss the role of the leasing sector in supporting national mega and SME projects. It will also showcase the government’s plan to activate the role played by this sector in carrying out the country’s economic development schemes.
The event will be attended by a number of officials from ministries, local and international institutions, as well as representatives from a number of sectors such as industry, trade, transport, housing and energy.
“The Egyptian government is seeking to expand into leasing activities and to activate its role in funding various projects, through drafting new mechanisms and legislations to support it,” the statement said.
In earlier 2015, the leasing sector witnessed an “unprecedented leap” in the amount of signed contracts supported by an improvement in construction and real estate markets, the statement added.
The conference will also tackle the role of the leasing sector in lowering the investment cost to begin infrastructure, industrial and agricultural projects besides financing SME businesses.
During the conference, the leasing firms will present their solutions to various projects such as the provision of machines and equipment for infrastructure, construction and petroleum projects.
Furthermore, the firms will offer system and technical solutions to the new and renewable energy, communication and IT projects.
Meanwhile, the leasing sector has registered a significant growth of 227% in the first seven months of 2015, with contracts worth EGP 11.3bn, while 25 active firms are currently working in the field.
The Partnership for Development Initiative holds a number of major conferences and workshops annually to identify government policies related to economy, legislation, laws and measures to reform the business climate in Egypt.
The Partnership for Development Initiative held its first series of conferences on 19 April; it aimed to reveal details on the Egyptian Economic Development Conference’s real estate agreements.