Sisi Invites Global Private Sector Institutions to Invest in Africa

Egypt’s President Abdel Fattah El Sisi expressed on Wednesday his appreciation to Japanese Prime Minister Shinzo Abe and the Japanese people for the well organization of the 7th Tokyo International Conference on African Development (TICAD7), currently being held in Yokohama city.

Addressing the inaugural session of (TICAD7) summit, Sisi said that partnership with Africa represents a real opportunity to achieve joint gains, adding that the black continent is keen to be opened to the whole world, and to deepen cooperation with its current partners to accomplish tangible results.

“We are gathering today in TICAD7 summit under the theme of ‘Advancing Africa’s Development through People, Technology and Innovation’ a matter which paves the way for more cooperation in the coming period,” the president confirmed.

Moreover, Sisi stressed the need for intensifying scientific and development cooperation with Japan to benefit from the persified resources of the African continent through supporting clean and renewable energy projects.

In addition, Egypt’s head of state called on International, continental and regional financial institutions to play a role in funding development projects in Africa, and providing financial guarantees for continent capacity building, thus contributing to trade and investment promotion.

Sisi also invited global private sector institutions and multinational companies to invest in Africa, as it enjoys open markets, and suitable investment conditions.

Moreover, the president pointed out to three key axes through which Africa could be transformed into a desirable economic partner; firstly, the infrastructure development via the implementation of cross-border projects; secondly, transforming the African continent into an economic partner; thirdly, paying attention to providing more job opportunities especially among young people. “This needs national and international investments’ mobilization, attracting capital and technology localization,” Sisi continued.

Egypt’s leader concluded his speech by hoping that the summit’s recommendations and decisions would transfer into concrete practical steps.

Noteworthy, Sisi is co-chairing TICAD 7 with Japanese Prime Minister Shinzo Abe. TICAD 7 will run until Friday.

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