Egypt’s Economic Development Conference is set to be inaugurated at 4PM today in the Red Sea resort town of Sharm El-Sheikh with government officials, businessmen and more from 112 countries in attendance.
The conference, held to boost foreign investment to restore Egypt’s economy, has attracted delegations from the United States, the United Kingdom, the European Union, Russia, United Arab Emirates, Saudi Arabia, Kuwait, Jordan, Japan, China, India and more.
Among those in attendance are the US Secretary of State John Kerry, Palestinian President Mahmoud Abbas, Jordanian King Abdullah II, the United Kingdom’s Foreign Secretary Philip Hammond, Ethiopia’s Prime Minister Desalegn, Sudan’s President Omar Al-Bashir and other high level officials.
At an event held by the American Chamber of Commerce in Egypt, Kerry encouraged greater foreign investment in Egypt, adding that US companies invested $US 2 billion in Egypt in 2014.
“This part of the world is blessed with a stunning amount of commercial potential,” declared Kerry.
With the motto ‘Egypt The Future’, the conference aims to boost the recovery of Egypt’s economy, which had deteriorated due to political and social turmoil since 2011.
The conference will see 2,000 delegates from 112 countries come to Sharm El-Sheikh amid tight security.