24 April 2024 11:49 PM

President El-Sisi’s speech at the closing session of the Economic Conference - Egypt 2022

Tuesday، 25 October 2022 - 09:33 PM

President Abdel Fattah El Sisi asserted that the "Economic Conference...Egypt 2022" will be a stable economic platform for annual "statement of account" on the achievements made in all fields, reiterating the necessity of working out institutional mechanisms to handle all problems.

Addressing the final session of the Economic Conference…Egypt 2022, Sisi said: "We are committed to implementing all recommendations issued by the conference", adding that he will receive a report every three months on what has been achieved.
He said the issues pertaining to the political environment in Egypt or the Middle East and the region are closely related to the economy and all proposals raised during the conference can be discussed by any student at the Faculty of Economics and Political Science.
Sisi noted that the national dialogue which was launched in April aimed at listening to one another despite any differences along with discussing all possible issues whether in the economy or politics, sociology, culture, media or religion.
He also said the dialogues held in all such fields will be fruitful for any discussions in other files.

President Sisi asserted that Egypt is committed to implementing all recommendations and outcomes of the economic conference.
Sisi pointed to the launch of the national dialogue in April to listen to each other in light of the global circumstances and challenges as well as keeping in touch despite the differences.
He noted that the most important thing is how to implement the conference's suggestions.

President Sisi said the government will surely face problems in implementing the conference's recommendations, asserting that the conference should have stable institutional mechanisms that should be with the government.
He emphasized that there should be a stable economic platform every year to be a statement of account, noting that the leadership and government periodically receive a report every three months about the achievements which the government accomplished.
"I do not consider myself as Egypt's president but a human who was asked to protect his homeland," Sisi underlined.

President Sisi pointed out that the matter of the written divorce document became unenforceable because of the refusal of some institutions, which claimed that they would be supporters of the leadership if they approved the divorce document.
He asked whether the Islamic and Christian institutions would intensify their efforts to support the government and president.
The president criticized remarks made by some Egyptian businessmen that the state does not allow competition, saying such remarks do not encourage to lure foreign investment in Egypt.
He affirmed the importance of developing ports across the country to meet global trade needs, recalling the experts' suggestion about the participation of the private sector and investors in this development process.
I called on Transport Minister Kamel El Wazir to establish Ain Sokhna Port and he pointed out to a lack of financial capability to do so, therefore I asked the army's assistance," Sisi said, adding: "Are the businessmen ready for pumping EGP 40-50 billion to establish the port without knowing its revenues?"

President Sisi said when he asked Wazir to establish development works of Mehwar El-Tameer (El-Taameer Axis) in Alexandria, he told him that it would be finished in FY2024-2025. Therefore, he tasked the Armed Forces with finishing it within one and a half years.
The 55-kilometer-road had been implemented for EGP 30 billion, according to the president.
The president recalled his first meeting with the investors when he was a presidential candidate, saying he told them he needed EGP 100 billion to face the ramifications of what happened in 2011 and 2013.
He thanked the Armed Forces for their role in supporting the state and achieving development. 

President Sisi noted that what had been implemented over the past five years equals what had been done during 100 years.
The president asked about the private sector's readiness for contributing to developing the industrial sector after the state finishes its role in this file.
He added that he did not ask the private sector to invest in the ports, airports or the railway.
Sisi also mentioned that the state needs about 60,000 classrooms annually to accommodate each about 30 to 40 students, adding the country needs EGP 60 billion to establish new classrooms nationwide. 

President Sisi asserted the importance of achieving a balance between fulfilling basic needs and establishing development projects.
Sisi touched on the low salaries, saying: "Whoever works for less than EGP 10,000 will find it difficult to live."
The president noted that he pays attention to all sectors inside the state. He denied claims that national universities have been established to serve the rich only, saying that they aim to create a better educational environment at a lower cost.
He called on the private sector to engage in the operation and management of hospitals.
He also pointed to the increasing cost of land reclamation and cultivation, clarifying that one million feddans would need EGP 150 billion to be cultivated.

The State is ready to provide every possible support to investors, and hold a transparent in-depth dialogue with specialists in any domain to bring about a positive change, President Sisi told the final session of the "Economic Conference..Egypt 2022."
He wondered if the State could offer free education for all as stipulated by the constitution, noting that a great number of economists, some of whom are among the conferees, had declined to take over some ministerial portfolios in 2014 for fear of failure.
Reiterating his commitment to maintain his support for state-owned and army-affiliated companies, while safeguarding the interests of workers and their families, Sisi asserted the need to change the attitude of the companies that cannot meet their obligations in alternative housing projects, such as Asmarat and Bashayer Al Kheir projects.

The State needs $1 trillion for public expenditure on an annual basis, Sisi said, highlighting the need to push for further development on all fronts at the same time, including those of economy, education, media, and culture.
Sisi also touched upon the problem of overpopulation and how the Egyptian drama tackled it since the times of President (Gamal Abdel) Nasser, without resolving it.
He wondered if the media, religious, and educational institutions had consolidated their efforts to face up to the challenge of overpopulation as an obstacle along the nation's road to development.
Sisi stressed that a good understanding of religious texts, including the Prophet Muhammad's sayings, must be taken into account while tackling the overpopulation issue. He noted that under the teachings of Islam persons should learn to live within their means and not rely on others or the State, to bear their household expenses.

Sisi said the ongoing global challenges call for expanding the State's social safety net to alleviate citizens' burdens.
He remarked that offering people cash support is not in the country's interest, highlighting the importance of changing people's consumerist attitude.
The State is working on creating attractive jobs for low and limited-income segments, President Sisi said, noting that the country has a workforce of about five to six million nationwide.
Sisi also stressed the State's support for small and medium-sized industries, and underscored the need to adopt a holistic vision by the State as well as industrialists to improve incomes.
Sisi concluded his remarks by instructing General Coordinator of the National Political Dialogue Diaa Rashwan to organize a religious conference bringing together people of all faiths, even non-believers, which would set a successful model for coexistence.



MENA

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