01/07/2024
What a historic event !! (The first Egypt/EU Investment Conference )
The past couple of days marked the beginning of a new Era of strategic Collaborations & Partnerships between Egypt & the EU.
I was extremely flattered & privileged to be part of this one-of-a-kind conference alongside HE Mr. President Abdel Fattah El-Sisi, President of the Arab Republic of Egypt, HE President Ursula von der Leyen, President of the European Commission, HE Dr. Mostafa Madbouly, Prime Minister of the ARE.
With a handful list of distinguished & esteemed guests, speakers & Panelists , from key governmental & EU officials, ministers, ambassadors, IMF, IFI & Eurobanks representatives, venture capitals & CEOs, brought together from both regions to discuss crucial collaborations and investments, with a particular focus on the future of renewable energy.
This conference helped unlock new doors of opportunities & paved the way for new investment ventures to take place on the Egyptian soil.
It served as beacon to demonstrate & showcase Egypt's capabilities & readiness for such massive investment following all the drastic economical reformations initiatives that were carried out over the past period yet still more to come.
It was also an excellent opportunity to underline the various financial instruments the EU can provide to turbocharge the Egyptian economy & serves as a tractor to the economy vehicle, Which will significantly contribute to the overall growth of those investment opportunities & their realization.
Throughout those 2 insightful days. I was fascinated & thrilled to witness the signage of a numerous 29 remarkable MoUs & Agreements between Egypt & EU with over 49B € of fresh investments coming to Egypt, which are just a drop in the ocean, yet a lot more to come.
Harnessing the Power of the Future, Renewables & Green Energy (particularly Green Hydrogen & Ammonia) took the center stage & were at the forefront of those MoUs with + 20B €’s worth of investments. In addition to another 18B € from other 8 MoUs with non-European partners.
Those MoUs incorporated various investment sectors from Macro Financial Assistance, Near-shoring, Green Hydrogen & Energy, Mobility & transportation, Financial Assistance, & Technology.
Hereunder are the general Mandates that those MoUs are underpinned with:
• Leveling the play-field between EGYPT & the EU.
• Localization of industries within Egypt
• Leveraging from Egypt resources & capabilities
• Comprehensive partnerships underlined with strategic & long-term investments to guarantee the consistency, continuity & ex*****on of those projects
• Assurances & Guarantees to ensure the reformation plan is on the right path & is paying off.
Below are some glimpses on each sector:
• 1B € of Macro Financial Assistance to fund Entrepreneurs, startups & Small Business
• Encouraging Near-shoring business by providing unprecedented facilitations (Golden License) to help Industries localization within Egypt, in addition to attractive incentives for offshoring & Re-shoring businesses.
• In the Energy Sector & Renewables, at their heart, special focus was given to 100% localization of Green Hydrogen & Ammonia plants, not to mention the current Solar & wind energy being transferred to Europe via Greece through (GREEGY undersea Power Cable Network)
• As for the Mobility & Transportation, the light was shed on the unparalleled infrastructure Projects Egypt has heavily invested in to end up with a state-of-the-art Transportation Networks of railways, highways. High-speed trains & enormous road Networks, not to mention the SCZone with its upgraded Ports, connecting the whole of Egypt’s ports & Harbors, from east to west south to North which serves as a pivotal player in global trading.
• Other interesting sectors are those related to the socioeconomic Resilience, including Healthcare, Food & Water security as well as sustainable energy solutions where investors can engage in impactful and financially viable projects, such as Waste & Energy Management, Water (Sea & Sewer water desalination & refinement) & Textiles recycling.
• Last but no least is the Technology space, with Egypt being a distinguished Technology Hub for various industries ( ICT, Fin-Tech. Edu-Tech, Health-Tech, Agri-Tech & semiconductors manufacturing ) as importantly as other business sectors such as E-commerce, & E-Trading, leveraging from the bright minds & brilliant talents we’ve in Egypt, developing & working on the latest cutting edge & groundbreaking technologies.
Over the course of those 2 days, our Esteemed Panelists & Speakers conducted a series of mindful Fruitful Panels & eye-opening fireside chats, highlighting the benefits of Investing in Egypt, Challenges, Opportunities & Recommendations to foster a conducive investment environment, aiming to attract diverse portfolios and contribute to the overall country's sustained and sustainable economic growth and regional leadership..
Below are some of the soundbites of those sessions:
1.Why Egypt:
•Egypt has a unique Geographic location at the crossroads of Europe, Africa & Asia, more importantly its pivotal role to establish stability & security in the region.
•Egypt also enjoys a list of qualities that makes it by far a distinguished investment Hub, they’re as follows:
# Proximity to Europe with its unique Logistical facilities & ports
# Advanced Infrastructure & unparalleled transportation Network of Railways, highways, High-speed train & enormous road Networks.
# Manpower & Human resources with 60-70% of the population under the age of 40.
# Skillful labors & Talents.
2.Challenges:
•Climate Change: The world is facing a climate crisis, and renewable energy is a critical solution.
•Energy Security: Moving away from fossil fuels strengthens energy security, reducing dependence on volatile global markets
3.Opportunities:
•Economic Growth: Investment in renewable energy creates jobs, stimulates innovation, and boosts local economies.
•Renewables : Participants explored potential investment projects in solar, wind, and other renewable energy sources.
•Technology Transfer: Sharing knowledge and expertise between Europe and Egypt is key to accelerating the transition to a green economy.
4.Recommendations
• Establishing a resilient economy is key to withstand all external hits ( Pandemics, Geopolitical unrest, Food security, climate change)
• Investing in people is crucial.
• Policy Framework, focusing on creating a supportive policy environment for attracting investment and fostering renewable energy development
• Green transformation is as important as digital transformation
• Execute on our strategies & deliver on our promises
The Egypt-EU Investment Conference marks a crucial step in strengthening the partnership between both regions, with a shared commitment to renewable energy, we can expect to see significant progress in the coming years, paving the way for a cleaner, more sustainable future.
Now that play-field is leveled, we've the world of opportunities ahead of us, all it takes now is to step in, call to action, execute & implement..
Can’t wait to see those agreements materializing on the Egyptian grounds.
For an elevated long-lasting collaboration between Egypt & the EU..
