Business monthly (Egypt) - - EVENTS -

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.

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