The Egyptian Ministry of Finance in co-operation with the Asian Infrastructure Investment Bank (AIIB) has started preparations for the 8th Annual AIIB Meeting, which will be held for the first time at Sharm el-Sheikh in September.
Finance Minister Mohamed Maeet, who is also the Governor of Egypt at the AIIB, said that the 2023 Annual Meeting of the AIIB in Sharm El-Sheikh is an important platform for deepening co-operation and development partnerships between African and Asian countries.
“It is an opportunity for Egypt to strengthen the presence of African countries on a global platform,” the minister said.
Egypt is the AIIB’s first shareholder from the continent of Africa, and the first full member from the continent, the minister added.
“Work is underway to ensure the success of the meeting to strengthen the foundations for comprehensive and sustainable development, to enhance private sector contribution to the economy, and allow it to benefit from AIIB expertise to mobilise finance for private investments,” Maeet said.
Egypt is looking forward to providing more promising opportunities for financing infrastructure projects in African countries in a way that contributes to comprehensive and sustainable development, Maeet added. Egypt is qualified to play a strategic role in ensuring quality infrastructure for regional integration due to its vital geographical location, he said.
The state provides a business environment that is supportive and attractive to private investments through various programmes, such as the Golden License, the initial public offering program (IPO), the state ownership policy document, and the Supreme Investment Council, the minister said.
These come within the state’s interest in attracting more investors to sectors with development priorities, while easing pressure on the general budget, he added.
