Egypt wins the award for best partnership project with private sector in the Middle East and Africa for the year 2013.

Alderman: It is normal that Egypt encounters such current difficulties after the revolution and we call British investors to increase their investments in Egypt.

Two international conferences are to be held this year in London to promote P.P.P program in Egypt.

Dr. El Morsy Hegazy confirmed the government commitment to protect the rights of Egyptian, Arab and foreign investors, according to the principles and provisions of law of investment guarantees and incentives.

“Government doesn’t hesitate to resolve any problems and remove any barriers facing foreign investments as a main mechanism and integrated domestic saving role in development and in achieving inclusive growth all over Egypt”. He said

He added “Egypt seeks to restore political and economic stability, pointing to the government’s exerted efforts in economic and social reform and to continue consultations with IMF and preparation of legislative elections which complete Egypt’s institutional structure”.

This was during his meeting with Lord Mayor Alderman Micheal Beer, Mayor of financial district in London, and Hany Kadry deputy to the Minister of Finance, Atter Hanoura director of PPP central unit, Sami Khallaf  the Minister advisor and director of Public Debt unit, Dr. Ahmed El Nagar the Minister of Finance advisor for finance policies, Dr. Mohamed Mekawi the Minister of Finance advisor for international cooperation.

It has been discussed during the meeting prospects of economic relations between Egypt and Britain, and ways to enhance British investments, beside potential cooperation between British- Egyptian financial sector.

Minister of Finance added that he had submitted to the British side an Egyptian PPP program targeted to be  raised during the current fiscal year, meanwhile Abou Rawash waste water plant has been already begun with expected investments for LE. 5.5 billion. The number of tenderers reached more than 64 international and Egyptian companies.

At the beginning of next April, many waste recycling projects will be offered, then the project of Canal El Suez Hospital development, as well as offering the establishment of Maadi  Technology Zone  and two water desalination plants in Sharm El Sheikh and Hurghada, in addition to  increasing the number of river bus stations project from 15 to 31 stations, pointing that the  Egyptian government planned to establish about 29 PPP projects within the five next years.

The Minister disclosed that Egypt has won the award for the best PPP project in the Middle East and Africa for the year 2013, from British institution “World Finance” which is granted to infrastructure sector projects, noting that the institution has confirmed that Egypt  has a strong PPP program  and that Egypt has succeeded despite the global financial crisis, in addition to its domestic crisis, to maintain the pace of its PPP program for, whereas two projects were offered during the revolution’s two years and praised the regulatory frameworks and the Egyptian government’s vision for the program.

Lord Alderman Michael Bear, Mayor of Financial District in London had confirmed UK’s full support to Egypt to address  the transitional period difficulties, noting that it is natural that all countries experience such problems after revolutions.

He said that his visit to Cairo aimed to show the support of British business community to Egypt’s efforts for recovering, also to confirm the importance of Egypt as a pivotal country in Middle East, and having many investment prospects, especially in infrastructure fields and above all PPP projects,  financial sector, petroleum, natural gas and agriculture.

He added that Egypt have potentials and strong PPP program projects which are attractive for international investments, noting that he had proposed to organize two international conferences during this year, one of which in Cairo, the other in London, to introduce Egypt’s P.P.P program to international business community in order to promote the said projects.

He call on international businessmen, especially from Britain to come to Egypt and increase their investments in Egyptian market to take advantage of the promising opportunities in Egypt.

He explained that he had discussed with the Minister of Finance the challenges facing British investments in Egypt.