By Eman Hamed
11 foreign official delegations are poised to take part in a high-profile investment conference hosted by Egypt under the slogan of Global Alliances for Sustainable Businesses “GASB”, which is scheduled to kick-off next Thursday January 19 in Hurghada City resort of El Gouna, with the participation of the Minister of Emigration Amb. Soha Gendy, Governor of Red Sea province Gen. Amro Hanafi, together with more than 400 businessmen, nationals of 29 countries, with the aim of incentivizing and attracting foreign investments to Egypt across various sectors.
Christina Karim, COO l at Venture, organizer of the conference, said that foreign official delegations that confirmed their participation up to date include ambassadors, commercial attaché of Poland, Romania, Morocco, Saudi Arabia, Qatar, Libya, Russia, Sudan, Iraq, Paraguay and Dominican Republic, together with several investors and representatives of business organizations and the private sector from 29 countries, including Romania and Sudan, as well as some members of Egypt’s House of Representatives and Egyptian businessmen across various industries.
GASB conference, to be held from 19 to 21 January, fits in the Egyptian state and its political leadership’s vision as regards the need to work hard to allure foreign investments to Egypt, she maintained.
Christina underscored the importance of promoting investment and commercial projects. “That is exactly what we, together with top companies and foreign investors, are focusing on across sectors as diverse as building materials industries, constructions, wood, marble and iron.”
CEO at Venture, Lamiaa Ashour, said that GASB conference seeks to induce governments and international business organizations to work together to face up to economic headwinds and forge tie-ups with the aim of revving up the sustainability of various economic industries in Egypt.
During the conference, bilateral meetings will be held between the Egyptian businessmen and their peers from foreign countries in order to seal commercial and investment partnerships that bolster the trade exchange between Egypt and these countries and open up new markets for the Egyptian products in the global markets so as to carry out the state’s strategy of increasing the Egyptian exports to USD100bn per year, she noted.
The conference, she explained, sees some top economic entities providing their own sponsorships, including Modern Marble, acting as the main sponsor of the conference, Orascom Industrial Parks, Modern Construction, Abou El Houl, along with a number of strategic partners, including EGYPTAIR, Russian Egyptian Business Council and Egyptian African Businessmen Association.
According to Deputy Chairperson at Modern Marble Mr. Samah Hamdy, GASB conference is the largest gathering of Egyptian and foreign businessmen working in areas of constructions, building, energy, services, agricultural manufacturing and climate change adaptation. The conference provides at this timing a rare opportunity to open up new markets for the Egyptian products in the European, African and Arab markets, he added.
The private sector stands firm in support of the state’s efforts aiming at cementing relations with businessmen, nationals of other countries, and promoting investment opportunities to bring in foreign investors to Egypt, he confirmed.
Hamdy referred to the importance of exchanging expertise and localizing global technology in Egypt. To achieve this goal, several workshops are scheduled to be held on the sidelines of the conference, as this event is expected to help forge investment partnerships between Egyptian businessmen with their foreign partners to set up new projects in Egypt, he added.
Atef Gamal, Managing Director at Modern Marble, said that GASB will discuss the role that may be played by governments, business organizations and investors to consolidate the international businesses, leverage strategic partnerships to ratchet up investments flowing in Egypt’s manufacturing sector and seize the promising opportunities that are offered by Egypt to local and foreign investors in light of its political leadership’s interest in prioritizing and shoring up manufacturing at the time being.
The Egyptian market is one of the most important and largest markets in the region, he explained, lauding the state’s orientation to pass and grant a golden license to investors in the span of just 3 months. He noted that this license will produce the helpful result of expediting the execution of ventures and bringing in more investments.