The Second Egypt Business Solutions Summit is held within the framework of the Egyptian state’s efforts, under the leadership of President Abdel Fattah El-Sisi, to give momentum to the national economy’s engines in order to achieve sustainable economic growth with an aim to proceed with the state’s ambitious plans seeking mainly to localize industries.
Localizing industries will help cut the state’s importation bill, up the gross domestic product (GDP), and create job opportunities that will consequently contribute to improving standards of living.
The state is also working on buttressing production mechanisms and developing business systems in leading sectors of the Egyptian economy, especially transport, construction, tourism, energy, agricultural and retail domains.
Therefore, the state seeks to localize the concepts of digital transformation and financial inclusion in addition to diversifying the parties involved in supply chains by supporting small and medium enterprises (SMEs) and the solutions provided by entrepreneurs to accelerate the growth process.
This comes in light of the importance of SMEs which account for about 90% of active enterprises in Egypt and contribute to about 80% of GDP and nearly 75% of total employment in the private sector.
The second annual Business Solutions Summit – themed “Bridge the Gaps” – aims to shed light on financing, legislative and regulatory gaps that represent a challenge to the business community in order to come up with solutions helping to accelerate economic growth.
The summit will also review means of capitalizing on promising opportunities in various sectors of the Egyptian economy, merging the informal sector into the formal one, and providing financing and tax incentives that will stimulate investment in the upcoming period.
All parties concerned, including representatives for government bodies and financial institutions, industry experts and businessmen, will attend the summit which is a platform for communication, exchanging knowledge, and building strategic partnerships to promote the business community’s development.
The summit will tackle the role of the banking and non-banking sectors in supporting the engines of the economy as well as the role of international financing agencies, direct investment companies, investment funds, and business accelerators to prop up local industry, small and medium enterprises (SMEs), and entrepreneurship.
It will also shed light on strategies for building more crisis-resilient business models and realizing growth through adopting innovative solutions.