High-profile Egypt investment summit opens today as economy keeps growing

Dubai: Investment prospects, climate change and food security will be among the topics discussed at the Egypt International Cooperation forum (Egypt-ICF), which opens today (September 8). The conference will try to “advance dialogue on international cooperation” as the global economy gradually recovers from the strain of a pandemic.

The event, under the patronage of Abdel Fattah Al Sisi, the President of Egypt, will bring together national and international policymakers, multilateral and bilateral development partners, private sector, civil society, and think-tanks to join efforts in identifying the parameters of sustainable recovery. The two-day event, at Cairo’s Ritz-Carlton hotel, will also be streamed online on the forum’s website. It will comprise panel discussions, specialized workshops that delve into sector focus, capacity building sessions for participants, as well as development cooperation projects’ visits.

Who are the organizers?

Speakers

The list of speakers includes Mostafa Madbouly, Prime Minister of Egypt, Rania Al-Mashat, Egypt's Minister of International Cooperation, and Mohamed Maait, Egypt's Minister of Finance.

Børge Brende, President of the World Economic Forum, and Amina Mohamed, the UN Deputy Secretary-general, will also be participating in the event.

From the private sector, Vint Cerf, Chief Internet Evangelist for Google will be appearing on the stage. Citibank Vice Chairman Jay Collins and Ahmed Elsewedy, the CEO of Elsewedy Electric, will also be present.

Day 1

The first day of the event will start with keynote addresses by political and development leaders followed by four panel discussions:

Multilateralism and international cooperation post-COVID-19

This panel affirms the importance of multilateralism for post COVID-19 recovery. The participating leaders from the Middle East and Africa (MEA) and heads of International Financing Institutions will emphasize the key role of regional and international partnerships in advancing equitable and inclusive development.

Role of international development cooperation in accelerating progress

This session will present successful experiences of multi-stakeholder partnerships in achieving the sustainable development goals from the MEA region and will highlight the opportunities that have emerged from the COVID-19 pandemic to accelerate progress towards the 2030 Agenda.

Private sector engagement in development through international cooperation

The panel will discuss how the private sector can contribute to the achievement of the development goals and highlight the necessary tools to incentivize its participation, especially in the MEA region.

Climate action in a post-COVID-19 context: A two-fold challenge

The session will discuss how MEA countries can recover from the devastating impacts of COVID-19, in a manner that integrates sustainability considerations including low carbon development; resilience to climate change; and inclusiveness.

Day 2

Six specialized workshops will be held on the second day.

Africa Continental Free Trade Area (AfCFTA): prospects and challenges of digital trade for private sector

This session aims to highlight the role of the AfCFTA in addressing digital trade constraints and the impact of quality infrastructure on private sector participation in digital trade. The workshop will tackle possible regulatory solutions, especially for issues such as data and intellectual property protection, as well as discuss how cross-border trade can be made more accessible for SMEs (small and medium enterprises)

Mapping ODA to SDGs: A tool for effective policy-making

The workshop aims to share Egypt’s novel approach of economic diplomacy that includes as one of its principles a country-led ODA-SDG mapping framework. It serves as a platform for promoting knowledge-sharing and achieving effective and impactful results towards accelerating the 2030 Agenda.

‘Banking on Women’: Supporting female entrepreneurship in Egypt

The workshop aims to introduce the EBRD’s Women in Business program (WiB) in Egypt and discuss best practices for supporting women-led businesses in Egypt. Participants will include representatives from EBRD (European Bank for Reconstruction and Development), the Ministry for International Cooperation, and the Egyptian financial sector.

Food security and employment in the digital age in Africa

This workshop serves as a platform for fostering South-South cooperation and knowledge-sharing amongst African countries in the areas of food security and water management.

Demographic divide: Youth and Innovation for transforming Africa

The main objective of this workshop is to explore opportunities across the continent to harness the potential of the fast-paced technological advancements through the promotion of youth-led innovative solutions.

‘Triangular cooperation’ with Africa

The workshop will be based on the main findings of the Triangular Cooperation in Africa report prepared by the OECD, in cooperation with the UN Office for South-South and Triangular Cooperation, and to which the Islamic Development Bank has contributed inputs. The session will showcase experiences from emerging economies, including Egypt, and reveal the opportunities and challenges generated by development megatrends across the continent, including; digitalization, rapid technology advancement, climate change and the various impacts of demographic transitions.