Egypt’s Finance Minister Mohamed Maait held an open dialogue with representatives of the private sector and the Asian Infrastructure Investment Bank (AIIB) ahead of the annual meetings of the bank, to take place in the Red Sea resort city of Sharm el Sheikh on September 25-26.
The dialogue aims at enhancing channels of communication between the multi-lateral bank and the private sector in a way that helps increase the participation of the private sector in economic activities to 65 percent.
The minister, according to a statement released by the Finance Ministry, called on the private sector to hold development partnerships with the bank to increase Egypt’s production rates and exports in a way that will help address global challenges and restore economic stability.
The minister made clear that Egypt is one of the founders of the bank with an investment portfolio of 1.3 billion dollars covering many projects including Abu Qir metro, Benban solar park as well as rural development programs.
Representatives of the private sector lauded Egypt’s hosting of such a global event, saying it is a good opportunity to increase the private sector’s participation with the State in development projects, especially as regards the infrastructure of renewable energy projects.
Also, hosting such an event reflects international institutions’ confidence in the Egyptian State and provides a chance to mull promising opportunities in infrastructure projects, they added.
Representatives of Abou Ghaly company for plastic industries, Acwa Power company for water desalination, Arab Contractors, Banque Misr, Banque de Caire, Beltone for financial services, Blue Eve for electrical transport, CI Capital for financial investments as well as other leading companies took part in the meeting.
Also, leading officials and board members of the AIIB talked during the event on deepening cooperation with the private sector in Egypt.
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