'People’s determination' behind success of economic reform: Sisi

CAIRO – 23 September 2019: President Abdel Fatah al-Sisi said Sunday that the successful implementation of Egypt’s economic reform program and its unprecedented positive results were due to “great Egyptians’ strong determination and will, not only as a result of the political will or the efficiency of the program itself.”

Sisi’s remarks came during his participation in a banquet Sunday evening hosted by the American Chamber of Commerce in his honor in New York, with the presence of the First Vice President of the American Chamber of Commerce, the Chairman of the American-Egyptian Business Council, and a large number of leaders from major American companies.


President Sisi participates in a banquet Sunday evening hosted by the American Chamber of Commerce in his honor in New York - Press photo


He further stressed Egypt will continue in its comprehensive reform path, aiming to achieve sustainable development, and improve Egyptians’ living standards, adding that reform program implemented in cooperation with the International Monetary Fund (IMF) has been prepared in accordance with Egyptian national requirements.

In an open discussion with U.S. companies’ leaders, Sisi praised strategic relations between Egypt and United States, and both countries concern to enhance those relations.

He also showed his keenness to communicate directly with the U.S. business community “to promote frank and direct dialogue on the opportunities and challenges in the joint work between both sides, as well as to identify the problems and obstacles facing investors and work to resolve them,” said Presidency Spokesperson Bassam Rady.

President Sisi expressed appreciation for the role played by the American Chamber of Commerce and the American-Egyptian Business Council in supporting economic and trade relations between both Egypt and America.

In this context, President Sisi expressed Egypt’s aspiration to increase the contribution of American companies in the development process in the country, and to participate in the undergoing Egyptian mega projects to benefit from the great opportunities offered by the Egyptian economy.

Spokesperson Rady added that “U.S. companies’ leaders lauded the development boom that took place Egypt, appreciating the role played with President Sisi to promote stability in the country, which is a focal point for the stability of the entire Middle East region.”

Heads of American companies, who participated in the banquet, also hailed the measures taken to improve and encourage the investment environment in the country, affirming their keenness to continue working to enhance American investments in Egypt in various fields.

Sisi arrived in New York on Saturday to participate in the 74th session of the UN General Assembly (UNGA 74) that is set to kick off on Tuesday.