Arab Pledges at Sharm El-Sheikh Conference will spur Egypt’s Economic Growth
The success made in Egypt’s latest investment conference has exceeded all the expectations and will help initiate a medium-to long-term process of economic recovery, CEO of EFG-Hermes Karim Awad said.
With a theme of “Egypt the Future”, the three-day economic development conference in Sharm El-Sheikh has managed to allure Arab investments to the country worth US$12.5 billion in addition to signing a series of agreements and preliminary deals.
Awad explained, in an interview with Dina Abdel Fattah at ‘Kol El Zawaya’ programme in Al Nahar TV Channel, that the agreements and investments announced at the conference are expected to boost the country’s foreign cash reserves, direct local and foreign investment rates, and growth efforts.
The agreements signed at the conference, notably in sectors of construction and energy will contribute to create several job opportunities in the coming period, the CEO of the leading investment bank added.
He referred that Egypt’s Arab allies pledged during the conference around US$4 billion in forms of deposits at the country’s central bank in addition to US$8.5 billion worth of investments in several sectors.
The agreements signed at the conference, notably in sectors of construction and energy will contribute to create several job opportunities in the coming period, the CEO of the leading investment bank added. 
