U.S. CHAMBER AND AMCHAM HOST PRESIDENT SISI AT CEO ROUNDTABLE IN NEW YORK
The U.S. Chamber of Commerce’s U.S.-Egypt Business Council in cooperation with AmCham Egypt and the Egypt-U.S. Business Council hosted President Abdel Fattah el-Sisi at a roundtable discussion in New York with American CEOs and other executives to discuss the business environment for American companies in Egypt and the two countries’ overall economic relationship.
Sisi was accompanied by Minister of Foreign Affairs Sameh Shoukry; Minister of Investment Ashraf Salman; Yasser Reda, the Egyptian ambassador to the United States; and Amr Aboulatta, Egypt’s ambassador to the United Nations. Representing the U.S. Chamber were John Christmann, chairman and CEO of Apache Corp. and chairman of the U.S.-Egypt Business Council, and Myron Brilliant, executive vice president and head of international affairs at the U.S. Chamber. Representing AmCham Egypt were President Anis Aclimandos and CEO Hisham Fahmy. Omar Mohanna, chairman of the Egypt-U.S. Business Council, was also present.
President Sisi stressed that supporting economic growth in Egypt and encouraging American businesses to invest in the country is a priority for his administration. The president opened by noting the long-standing relationship between the U.S. and Egyptian business communities. He pledged that U.S. companies are “always welcome to invest and participate in projects in Egypt.” He cited work being done by Blumberg Grain and General Electric as two examples of American companies that are making important contributions in food security and power generation, respectively.
Sisi spoke not only of accomplishments but of the many promising opportunities Egypt has to offer investors, including the Suez Canal economic and industrial zones, and he noted that the government continues to work to create a more attractive climate for business and investment by reforming regulations governing capital, taxes, industry and labor. The president asked to hear directly from company representatives on whether his government was fulfilling its promises to levy reforms that make it easier to do business and invest in Egypt. He pointed out that the country is ideally situated geographically as a hub for Africa and the Middle East, and companies can draw upon a skilled and educated workforce. “We are determined to move fast and want to work with American companies,” said Sisi. The president’s encouraging message to U.S. businesses set a positive tone for the U.S. Chamber’s and AmCham Egypt’s continuing work program focusing on promoting the strategic bilateral relationship between the two nations.