00:00110 million and a strategic location linking Europe, Asia, and Africa, Egypt,
00:07occupies really a unique place in the global economy.
00:12Those, of course, because of its heritage,
00:16represent a unique place in the world.
00:20Your ambitious reform agenda, Mr. President,
00:23centered on private sector-led growth
00:25and the objective of achieving its highest contribution to the GDP by 2030
00:32sends a strong signal to investors and partners alike.
00:38This agenda, underpinned by a positive growth outlook
00:42that outperforms many regional peers,
00:46is also a testimony to the reforms undertaken.
00:51In support of this, we are particularly at the World Economic Forum
00:57pleased to also then announce, in collaboration with His Excellency,
01:02that we will convene, under your patronage,
01:06a business-focused country strategy meeting in Egypt in the autumn of 2026.
01:13So we do expect to see all of you in Cairo in the fall.
01:18Mr. President, your participation today reflects Egypt's dual role
01:25as a guarantor of regional stability and rising economic force.
01:31We are very much looking forward to your speech and for a dialogue.
01:35Mr. President, welcome.
01:36In the name of Allah, the most gracious,
01:52Mr. Borg Brander,
01:56Chairman and CEO of WIF,
01:58Ladies and Gentlemen,
02:00As I begin, I'd like to extend sincere thanks and appreciation
02:06to Mr. Borg Brander for his generous invitation
02:10to join the annual meeting of the World Economic Forum.
02:16This outstanding gathering offers a precious opportunity
02:20to address international issues and current challenges while geared to achieve our common goal,
02:29that is, to build a more prosperous and just future for everyone.
02:34Our world today faces monumental challenges on a development path.
02:41It witnesses profound transformations and the patterns of international cooperation,
02:47in addition to a rising role of innovative tools of technological progress,
02:53digital transformation, and AI applications.
02:57This matter requires us all to consolidate efforts and promote cooperation and join action,
03:04to enable ourselves to cope with those changes and seize the opportunities
03:11for the good and mutual benefit of our nations.
03:17As we believe in the importance of partnerships to ensure mutual benefit and sustainable development,
03:24Egypt is also invested in creating a private sector conducive environment,
03:31being an essential partner on the road to development
03:34and progress and prosperity.
03:36However, such efforts face unprecedented challenges, both regionally and internationally.
03:43Given the escalating geopolitical tensions and the limitations of international legitimacy
03:48by some parties, the matter that undermines the endeavours of the economic growth,
03:55weakens the efforts to preserve international peace and security,
03:58and limits the joint action between countries.
04:01Therefore, Egypt stresses that the only way to achieve peace, stability, and development in a sustainable fashion requires the following.
04:10First, international dialogue and cooperation should be adhered to the principles of mutual respect,
04:18peaceful coexistence should be upheld, and the international law on the UN charter should be respected.
04:24Second, disputes should be settled peacefully, escalations should be averted,
04:29and the environment for durable solutions of various crises should be created.
04:35Third, interstate integration should be sought.
04:39Erradicating poverty and hunger should be a priority, and shared prosperity among countries should be achieved.
04:47Fourth, when national, regional, and world business institutions should be enhanced,
04:55the private sector should be enabled to carry out a key role in achieving inclusive development.
05:01Ladies and gentlemen, the Palestinian issue is still at the forefront of the Middle East area.
05:09It forms the essence of the regional stability and the main anchor of just and comprehensive peace.
05:17Along these lines, I'd like to express my appreciation of President Donald Trump's efforts and commitment to stop the war in Gaza,
05:27and his sincere endeavors to alleviate the human sufferings of the brotherly Palestinian people for over two years now.
05:35Sharm Sheik Conference on October 13, 25, was the crowning of Egypt's efforts in coordination with the partners
05:48to bring a ceasefire, enshrine peace, open new horizons of hope and regional stability,
05:56and launch a serious political path to a just and comprehensive settlement of the Palestinian issue
06:02where the Palestinian legitimate rights are ensured, and security and prosperity in the entire region can be promoted.
06:11Accordingly, I emphasize the necessity to build on Sharm Sheik's summit, the ceasefire should endure,
06:19the flow of humanitarian assistance to Gaza should not be interrupted,
06:24while the process of early recovery and reconstruction of the Strip should be accelerated.
06:30I also welcome the United States' announcement of the beginning of phase two of the ceasefire agreement.
06:36This is a key step toward the implementation of the peace plan and the de-escalation in the region.
06:43Thus, chances of stability are even bigger.
06:51And I'd like to reemphasize that Egypt, out of its historical role in supporting the Palestinian cause,
07:00will spare no pains to continue engaging with all parties concerned to reach a just, comprehensive, and permanent solution
07:08of the Palestinian issue based on the two-state solution and the international legitimacy resolutions
07:16that provide the establishment of an independent Palestinian state on the lines of the 4th of July, 1967, with East Jerusalem as its state.
07:26Distinguished audience, despite multiple regional and international crises, Egypt continues its ambitious economic reform,
07:36with an integrated package of actions to control financial and monetary policies,
07:43restore the investors' confidence in the Egyptian market,
07:47upgrade the investment legislative environment, and provide attractive incentives to investors.
07:55Egypt has given a special priority to strengthen the private sector as a major indispensable partner in economic growth and development.
08:05It has set a cap for the government investment and launched a thorough plan for the state exit from certain public investments,
08:14giving the private sector more room to enlarge its contribution to the economy.
08:21The dividends of such efforts are a remarkable improvement in economic performance indexes,
08:31high rates of growth and increase in the private investment flow,
08:35a broad commendation of the world finance institutions, notably the IMF,
08:41in addition to a better credit rating by world credit rating institutions.
08:46I assure you, Egypt will continue the process of economic reform and advance its development trajectory,
08:53along with implementing the state-owned enterprises document,
08:59which specifies the scope of the work of government and state-owned companies.
09:05It is carrying out the monetization program and state exit in order to broaden the participation of the private sector
09:13and multiply its contribution to cushion toward the wheel of economy.
09:19Ladies and gentlemen, the Egyptian market today provides ample investment opportunities in various systems.
09:27In the meantime, the government is keen to offer necessary incentives and facilitation.
09:31Especially in new and renewables or automotive industry, including EZs, pharmaceuticals, logistics, ITC, and AI applications.
09:44I invite you to make high and benefit from the well-resourced infrastructure which Egypt established in the previous years,
09:55in highways, communications, transport, logistics, free zones, particularly the economic zone of the Cirrus Canal,
10:03which stands as a strategic platform for trade and investment.
10:09I assure you that the investor who chooses to work in Egypt will not only benefit from the promising local market,
10:18but will open up to broader markets linked with Egypt by FTAs in both the Arab and world.
10:26If you like the strategic management with Europe's products and make good priorities,
10:38I emphasize the fact that Egypt is within the United States,
10:43and the priorities of security and security,
10:47that it in a long term can help,
10:49and that Egypt is interacts with a stronger cooperation with the workers to reach these desires.
10:55I would also like to welcome our announcement to organize a session on the business in deep during this year.
11:06I look forward to keep up our coordination and time ahead to make this success.
11:14I see the opportunity to wish you all the best with our rest of the life activities. Thank you.
11:25Mr. President, thank you so much for your speech.
11:37And my interpretation is...
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