The Prime Minister witnesses the signing of memorandums of understanding during the “Global Outsourcing Industry Summit”
The Prime Minister witnesses the signing of memorandums of understandingDuring the “Global Outsourcing Industry Summit”
As part of the state’s efforts to develop the field of industry, Prime Minister Dr. Mostafa Madbouly participated in the “Global Outsourcing Industry Summit” held by the Ministry of Communications and Information Technology. He also witnessed the signing of a number of memorandums of understanding between the Information Technology Industry Development Authority (ITIDA) and 55 Egyptian and international companies to open their headquarters in Egypt or to increase the volume of their investments by expanding the scope of their centers’ work in the market. Egyptian.
In the presence of Dr. Amr Talaat, Minister of Communications and Information Technology, Engineer Ahmed Al-Zaher, CEO of the Information Technology Industry Development Authority (ITIDA), and officials of a number of leading international and local companies in the field of industry.
His Excellency delivered a speech during the summit in which he expressed his great pleasure in participating in this global summit, noting that it reflects the great development witnessed by the communications, information technology and global services sector in Egypt, in addition to the strength and flexibility of the Egyptian economy and the great trust that the world places in it.
He also stressed Egypt’s relentless pursuit of achieving an integrated vision based on three basic axes for industrial development: infrastructure readiness, economic stability, and the most important axis is human capital development, pointing out that these priorities are what guide every investment and economic reform that the government is concerned with.
Egypt is a reliable and attractive destination for investment
The Prime Minister added that despite the tensions witnessed in the global economic system during previous years that affected Egypt as part of the global economy, the Egyptian government remained committed to enhancing stability, transparency and confidence in all areas of the economy and building a competitive business environment that enables the private sector to achieve long-term growth.
In this context, Dr. Mostafa Madbouly went on to say: “The government has implemented comprehensive structural reforms aimed at simplifying investment procedures, including digitizing the tax and customs systems, facilitating procedures for granting licenses and allocating land, and our policy to achieve financial discipline continues to ensure that Egypt fully fulfills its financial obligations, while achieving a balance between its local investments and development requirements.”
He also pointed out, in the context of his talk about creating an attractive climate for investment, that the Supreme Investment Council, headed by His Excellency President Abdel Fattah El-Sisi, President of the Republic, achieves flexibility and clarity in economic policies, explaining that these reforms are not complete except with a stable tax system that supports the private sector’s ability for long-term planning, growth, and business stability.
The results of economic policies are clearly evident in the institutions’ praise of the progress achieved by Egypt, and international credit rating institutions continue to look at the Egyptian economy with confidence and strengthen its ratings, which is a turning point in our economic path, in addition to the fact that profit transfers or foreign exchange flows abroad are not subject to any restrictions, which guarantees investors the freedom and flexibility they expect and deserve.
In this context, Dr. Mostafa Madbouly stressed that global confidence in our economic policies reinforces what we already know; It is that Egypt is a reliable and attractive destination for investment for sustainable growth.
The government continues the comprehensive economic reform movement
The Prime Minister continued his speech at the Global Outsourcing Industry Summit, saying: “The second pillar of our national vision is developing the infrastructure necessary for growth, stressing that this pillar constitutes an incentive that links the first pillar, economic growth, with the third and pivotal pillar, human development.”
His Excellency added that, in conjunction with our efforts to enhance our economic competitiveness, we witnessed a decade of unprecedented investments to develop infrastructure, which created a qualitative shift in the business sector in Egypt.
Dr. Mostafa Madbouly continued to talk about economic reform efforts, noting that in conjunction with maintaining financial stability, the government directed investments to sectors of high production and manufacturing, logistics services, renewable energy, and technology, which led to an expansion of the scope of partnerships between the public and private sectors.
He also reviewed the areas targeted in the investment movement during the past ten years, amounting to more than half a trillion dollars, which are: the road network, ports, airports, energy systems, logistics areas, and digital communication, which are the basis on which global companies and businesses depend for growth and prosperity, adding: “Our investments in infrastructure are closely linked to our commitment to achieving comprehensive sustainable development, which is embodied in the huge national project to develop the Egyptian countryside, A Decent Life.”
The Decent Life Project covers more than 60 million citizens in thousands of Egyptian villages, providing modern infrastructure for electricity, drinking water, and sanitation. It is also expanding the establishment of schools and health care services, and this is supported by a strong, constantly expanding fiber-optic network.
Government’s efforts to achieve comprehensive sustainable development
Prime Minister Dr. Mostafa Madbouly was keen to talk about the government’s efforts to achieve sustainable development by accelerating the process of transition to renewable energy such as solar and wind energy and reducing the use of fossil fuels in line with the Sustainable Development Goals (SDGs) of the United Nations.
His Excellency also touched on digital transformation, pointing to Egypt’s regional leadership in this field, as it occupies first place in Africa in providing the highest fixed Internet speeds, and second place in the lowest cost of the Internet, which is a clear commitment to building digital Egypt.
In addition to its ranking as Group 1 “A” in the Digital Government Maturity Index issued by the World Bank, stressing that this comprehensive and sustainable infrastructure is an essential foundation that enables companies to communicate, expand and succeed within a framework of trust.
Our people are our greatest wealth
Talking about the third axis, which is investing in human resources, the Prime Minister said: With about 110 million citizens, and one of the most dynamic and youthful population groups in the world, our people are truly our greatest wealth.
In this context, Dr. Mostafa Madbouly stressed that the government is working in all sectors of the state to expand the scope of vocational and technical training programs, develop languages, and enhance digital skills to enable our citizens to contribute to the global economy, and most importantly, in the communications and information technology sector.
At the end of his speech, the Prime Minister said, addressing the audience: Egypt gives you stability and partnership. We have a generation of skilled young people who are eager to contribute to your global growth, and I assure you that the entire government believes that our partnership with the private sector is the surest path to prosperity and growth.
He continued: We continue to invest in the infrastructure of the communications sector, and implement the necessary reforms to gain international trust that supports outsourcing companies to flourish in the local market, and Egypt is fully prepared to contribute to your success as you chart an innovative future and provide global value.
The The Earth Guards Foundationis closely following the government’s efforts made in all sectors and at all levels in order to achieve comprehensive and sustainable development, and highly praises them for their outstanding positive results on the Egyptian economy.
