The fourth edition of the Investment for Africa 2019 Forum kicked off on Friday in Egypt’s new administrative capital near Cairo.
The inauguration ceremony of the two-day event was attended by Egyptian President Abdel-Fattah al-Sisi and a large number of African heads of state and government, along with high-profile business figures from around the world.
Speaking at the ceremony, Sisi said the forum will have discussions to achieve the development “in a world full of difficulties and challenges.”
“The entry into force of the African Continental Free Trade Agreement (AfCFTA) on May 30 was a milestone on the road to continental integration, with Africa being one of largest trade regions in the world with 1.2 billion people and a GDP of 2.5 trillion U.S. dollars,” Sisi said, according to official Ahram Online news website.
“We have to find solutions based on regional integration to transform Africa into a global industrialization hub to provide job opportunities for African citizens and attract foreign investments,” Sisi added.
He stressed that development in Africa requires the participation of the private sector as well, noting that this process is not only the responsibility of governments.
The forum, which is organized by Egypt’s Ministry of Investment and International Cooperation, is an opportunity for forging investment deals and making announcements of numerous mega projects that will contribute to an inclusive and sustainable growth in the African continent.
It will also showcase flagship operations, projects and investments in the areas of infrastructure, digital transformation, mass transportation and renewable energy.