On Thursday, Mohamed Abou El-Enein, the Parliament Deputy Speaker, participated in the “Invest in Rwanda” forum held on the sidelines of the 26th Commonwealth Summit in Kigali.
Abou El-Enein participated in the event alongside the delegations and the senior officials of 54 states such as UK Crown Prince Prince Charles, Canada’s PM Justin Trudeau, UK PM Boris Johnson, and the representatives of the Commonwealth states.
The Parliament’s Deputy Speaker asserted that the world witnesses various rapid conditions, and economic updates which are forming more challenges and burdens for all countries such as the COVID-19 aftermath, and the Russian-Ukrainian war. Those conditions also impacted negatively the plans and the efforts of achieving sustainable development, and widen the gaps in funding the developing countries’ progress.
He added that also those challenges affected also developed countries.
Next, Abu El-Enein expressed that Africa is required to work on upgrading its sustainable economic progress by varying its economic structures, transforming to the economics of knowledge, adapting major reforms for raising the flexibility of markets, products, and competition, alongside supporting labors.
He added that concentrating on improving the quality of education and medical services, and increasing the participation of women and youth by supporting startups, and freelancing jobs.
Regarding the impacts of COVID-19, the Deputy Parliamentary Speaker highlighted that Egypt succeeded in continuing its economic and reform programs that were launched by President Abdel Fattah Sisi eight years ago and finalizing the first stage of Egypt’s 2030 vision despite the challenges of the pandemic.
Furthermore, the state was keen to continue its interests in enhancing the investments in all economic sectors and developing the infrastructure of all fields socially, and economically for improving the quality of the Egyptian lives.
Finally, he revealed that the Egyptian economy improved by 5.6% in the first half of 2019/2020 as a result of the serious reforms taken by the Egyptian government. This rate of progress helped the state to resist the aftermath of the pandemic, and qualify it to take several economic and fiscal decisions to face the COVID-19 crisis.