Launching the First Webinar of the Islamic Chamber’s Series
"ICCD Country Focus"
The Islamic Chamber of Commerce and Development (ICCD) has the honour to announce the launch of its series “ICCD Country Focus”, which aims to promote the development process and strengthen the ties of economic cooperation among its member countries, by attracting investments and developing export programs, in addition to highlighting the strengths and challenges that exist in the investment sectors of member countries.
The first webinar of the series was launched in partnership with the Federation of Egyptian Chambers of Commerce on Wednesday, March 30, 2022, entitled “ICCD Country Focus – Egypt”, where it addressed the investment environment of the Arab Republic of Egypt, and discussed Egypt’s vision 2030 in creating a competitive, diversified and balanced economy, based on the values of innovation, social justice, economic development and sustainability, driven by Egypt’s position as the top investment destination in Africa.
The webinar was held as part of ICCD’s efforts to achieve economic integration and support intra-investment across its member counties, in line with the intensified global efforts to promote inclusive and sustainable economic growth around the world.
The activities of “ICCD Country Focus – Egypt” started with the opening speech of H.E. Mr. Youssef Khalawi, Secretary General of the Islamic Chamber of Commerce and Development, in which he pointed out the necessity of focusing on the new digital world, which is one of the opportunities that emerged from the global Covid-19 pandemic, stressing the importance of virtual webinars and meetings as a window to facilitate the spread of knowledge around the world.
The webinar included a number of distinguished Egyptian speakers and prestigious government officials, who tackled the role of Egyptian institutions concerned with promoting development and attracting foreign investment in order to promote economic growth and achieve sustainable development in the Arab Republic of Egypt.
In the context of ICCD’s exerted efforts to enhance the role of the private sector in the development process, H.E. Mr. Yousef Hasan Khalawi, Secretary General of the Islamic Chamber of Commerce and Development, delivered a speech on behalf of Eng. Ibrahim Al-Araby, President of the Federation of Egyptian Chambers of Commerce. and Vice-President of ICCD, in which he asserted the need to cooperate with the Egyptian private sector to enhance its role in supporting and developing the national economy, referring in this context to the support provided to it by the Egyptian political leadership at all levels.
During the webinar, reference was made to the exerted efforts made by the concerned Egyptian institutions to support the Egyptian local industry, as Eng. Mohamed Abdel Karim, Executive Director of the Industrial Modernization Center – Ministry of Commerce and Industry, discussed the programs and policies launched by the Ministry of Commerce and Industry and the public and private industrial community with the aim of promoting local industrialization and making the Egyptian local product more competitive, and thus increasing exporting opportunities, noting the role of the private sector, which now accounts for 72% of GDP, and contributes with 38% of the volume of private investments in Egypt.
Concerning the most prominent developments that have occurred in the Egyptian economy over the past years, Mr. Amr Nour el-Din, advisor to the CEO of the Egyptian General Authority for Investment, referred to the World Bank’s statement regarding the stability of Egyptian economy in the face of the global Covid-19 pandemic and it is non subjectivity to severe turmoil in this framework. He also noted the commendation of the Organization for Economic Cooperation and Development (OECD) for Egypt’s journey towards attracting more investments and stimulating sustainable growth until it became the first destination for investment in Africa.
During his participation, Mr. Amr Nour El-Din announced the development of a set of government strategies to identify priority sectors for investment, which include main sectors: Industry, Agriculture, Transportation, Infrastructure, Communications and Information Technology, Education and Health.
The Islamic Chamber’s series “ICCD Country Focus” is part of its keenness to promote sustainable economic development and its belief in the necessity of achieving economic integration and supporting intra-investment among its 57 members.
About the Islamic Chamber of Commerce and Development:
The Islamic Chamber of Commerce and Development is an international institution of the Organization of Islamic Cooperation, representing the private sector in the countries of the Organization of Islamic Cooperation, A total of fifty-seven countries in addition to the observer members, and other affiliated members of Muslim minorities. The Chamber aims to promote cooperation among its member States in the fields of commerce, industry and information technology, and to promote investment opportunities and joint ventures among member States. Its membership consists of national chambers/ federations / councils of chambers of commerce and industry of the OIC Member States.
The Islamic Chamber of Commerce and Development was established on the basis of the decision issued by the seventh session of the Council of Foreign Ministers of Islamic Countries, held in May 1976 in Istanbul, Turkey. The idea was adopted by the first conference of chambers of commerce and industry in the Islamic world, which was also held in Istanbul in October 1977.
The constitution of the Chamber was then approved by the Second Conference of Chambers of Commerce and Industry held in December 1978 in Karachi, and its main headquarters is located in Karachi, the economic capital of the Islamic Republic of Pakistan.
For more information about the Islamic Chamber and its upcoming economic projects, you can visit the website https://iccdglobal.com , or contact the media department via the following e-mail: news@iccdglobal.com.