The closing session of the Economic Conference – Egypt 2022 witnessed the honoring of President Abdel Fattah Al-Sisi, President of the Republic. Journalists and General Coordinator of the National Dialogue.
The focus of fiscal and monetary policies, the recommendations included working to continue reducing the debt-to-GDP ratio, prolonging the payment term, and continuing to achieve a primary surplus to enhance the state’s ability to pay its obligations, in addition to speeding up an agreement with the International Monetary Fund, as well as the importance of price flexibility.
The exchange to reflect the market dynamics of supply and demand, as a tool for absorbing external shocks, as well as working to activate the derivatives market for currency and futures contracts, as a hedging tool against the risks of exchange rate fluctuation, in addition to issuing an index for the Egyptian pound, denominated in some currencies for the most important trading partners and gold.
Enhancing the participation of the private sector. The recommendations included expanding the ownership base by focusing on exit by adopting the offering on the stock exchange as a priority, followed by increasing the capital, through the entry of a strategic investor,
As well as strengthening the role of the Sovereign Fund of Egypt by transferring a number of state-affiliated companies to it, as well as identifying Periods of time for approval of requests submitted by investors, so that the delay in the response of the entity is considered an implicit approval to start practicing the activity,
In addition to expediting the disbursement of export subsidies to the sectors eligible for support, once the supporting documents are submitted.
The priority economic sectors axis. The recommendations included reforming the system of cooperatives and unions associated with agricultural activity, through structural, institutional, financial and administrative reform, in order to support their ability to play a greater role in the food security file.
This is in addition to finding rapid transport lines to enable fresh agricultural exports to reach the target markets, considering these perishable products, with a focus on lines that are of relative importance and have a relative weight in the volume of agricultural exports.
The axis of the development of the industrial sector, the recommendations included the speedy completion of the integrated vision of the national industry strategy, targeting some important industries, and deepening local manufacturing, especially in the engineering, chemical, textile and food industries.
In addition to developing industrial exports through programs to respond to export burdens, facilitating procedures for accessing new markets, activating the role of commercial representation offices and international exhibitions, while enhancing the role of the “Ibda” initiative to support the industrial sector,
As well as activating the local product preference law with the aim of promoting the local product in the state’s national projects, and finally converting industrial areas into integrated residential cities and working to provide housing for workers to reduce the cost of their transportation and granting land to factories.
