Egypt, Cairo, 21th of November 2013: Against a backdrop of rising investor confidence a group of leading international investors will attend a major investment forum in Cairo on 4-5 December.
On Friday 15th November, Standard & Poor's Ratings (S&P) raised its long and short-term foreign and local currency sovereign credit ratings of Egypt to B-/B from CCC+/C with a stable outlook. S&P stated that it expects support from bilateral lenders to continue over the medium and therefore that the upgrade demonstrates S&P's view that Egyptian authorities have secured sufficient foreign currency funding to manage Egypt's short-term fiscal and external financing needs. Coming at the same time as news that both the curfew and the state of emergency that have ended, these actions both point to a return to stability and a rise in investor confidence in the Arab world's most populous nation.
This positive news comes as the preparations for The Egypt/GCC Investment Forum 2013 gather pace. This forum, co-hosted by the Egyptian Ministry of Investment and supported by the Government of the United Arab Emirates and the GCC will bring together key Egyptian and GCC investors, financiers and policy-makers to debate and discuss the significant investment opportunities present in Egypt's economic restructuring.
This unique forum will focus on fostering ongoing strategic partnerships between Egypt and the GCC as both parties look towards a future of continued co-operation and increasing economic stability in the region. Through a series of targeted workshops this forum will look closely at the main industry sectors. Topics will include: renewable energy, housing and real estate, agriculture and food, hydrocarbons, IT and telecommunications, transportation, infrastructure, and tourism.
The organizers will welcome to Cairo distinguished delegates from Egypt, the GCC and the wider global economy. Together we will provide a platform to establish clear solutions for how to progress amidst the challenges of the current economic environment. H.E. Osama Saleh, Minister of Investment of the Arab Republic of Egypt and H.E. Sultan Ahmed Al Jaber, Minister of State of the United Arab Emirates will open the two-day forum, which will include keynote addresses from H.E. Hazem El-Beblawi, Prime Minister of the Arab Republic of Egypt and H.E. Dr Ziad Baha El-Din Deputy Prime Minister of the Arab Republic of Egypt.
Conference partners Euromoney Conferences, today stated that they will announce a stellar line-up of GCC and global investors later this week.