Egypt Economic Development Conference

Foreign Dignitaries
The Egypt Economic Development Conference (EEDC) was a three-day event that took place in the Egyptian Red Sea resort of Sharm El Sheikh.wikipedia
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Proposed new capital of Egypt

new capital cityNew Administrative Capitalnew capital
On the first day, a proposal for a new Egyptian capital city was announced.
The proposed new capital of Egypt is a large-scale project announced by Egyptian housing minister Mostafa Madbouly at the Egypt Economic Development Conference on 13 March 2015.

Abdel Fattah el-Sisi

El-Sisial-SisiAbdel Fattah Al-Sisi
It had been initially suggested by the King Abdullah of Saudi Arabia, whose country, along with the United Arab Emirates and other Gulf monarchies, have been the strongest financial and political backers of Egypt's president Abdel Fattah el-Sisi since he led the ouster of Muslim Brotherhood-backed president Mohamed Morsi in the summer 2013, pledging billions of dollars in aid to the new Egyptian government.
Energy contracts were placed as a top priority in the Egypt Economic Development Conference in March 2015, resulting in a $9 billion contract with Siemens to supply gas and wind power plants to boost the country's electricity generation by 50 percent, in addition to an energy deal worth $12 billion (LE91.5 billion) with BP to provide the country with an extra quarter of local energy production.

Richard Attias

Richard Attias and Associates
The conference's organizer, Richard Attias, expected the unveiling of over thirty projects "which can attract billions of dollars of investment," with more than 2,500 high-level attendees, including heads of state, public figures, chairmen and CEOs of multinational corporations among others.
In 2015, he organised the Egypt Economic Development Conference.

Red Sea

Redthe Red SeaErythraean Sea
The Egypt Economic Development Conference (EEDC) was a three-day event that took place in the Egyptian Red Sea resort of Sharm El Sheikh.

Sharm El Sheikh

Sharm El-SheikhNabqSharm el-Sheikh, Egypt
The Egypt Economic Development Conference (EEDC) was a three-day event that took place in the Egyptian Red Sea resort of Sharm El Sheikh.

Kuwait

🇰🇼State of KuwaitKuwaiti
Kuwait, Saudi Arabia and United Arab Emirates pledged $4 billion each; whilst Oman said it would provide $500 million.

Oman

🇴🇲Sultanate of OmanOmani
Kuwait, Saudi Arabia and United Arab Emirates pledged $4 billion each; whilst Oman said it would provide $500 million.

BG Group

BGBritish GasBG Group Plc
BG Group and BP both made a commitment to invest $4 billion and $12 billion respectively.

BP

British PetroleumBP plcBP Australia
BG Group and BP both made a commitment to invest $4 billion and $12 billion respectively.

Abdullah of Saudi Arabia

King AbdullahAbdullahCrown Prince Abdullah
It had been initially suggested by the King Abdullah of Saudi Arabia, whose country, along with the United Arab Emirates and other Gulf monarchies, have been the strongest financial and political backers of Egypt's president Abdel Fattah el-Sisi since he led the ouster of Muslim Brotherhood-backed president Mohamed Morsi in the summer 2013, pledging billions of dollars in aid to the new Egyptian government.

2013 Egyptian coup d'état

military coupcoup d'étatoverthrow
It had been initially suggested by the King Abdullah of Saudi Arabia, whose country, along with the United Arab Emirates and other Gulf monarchies, have been the strongest financial and political backers of Egypt's president Abdel Fattah el-Sisi since he led the ouster of Muslim Brotherhood-backed president Mohamed Morsi in the summer 2013, pledging billions of dollars in aid to the new Egyptian government.

Muslim Brotherhood

the Muslim BrotherhoodEgyptian Muslim Brotherhoodikhwan
It had been initially suggested by the King Abdullah of Saudi Arabia, whose country, along with the United Arab Emirates and other Gulf monarchies, have been the strongest financial and political backers of Egypt's president Abdel Fattah el-Sisi since he led the ouster of Muslim Brotherhood-backed president Mohamed Morsi in the summer 2013, pledging billions of dollars in aid to the new Egyptian government.

Mohamed Morsi

MorsiPresident MorsiMohammed Morsi
It had been initially suggested by the King Abdullah of Saudi Arabia, whose country, along with the United Arab Emirates and other Gulf monarchies, have been the strongest financial and political backers of Egypt's president Abdel Fattah el-Sisi since he led the ouster of Muslim Brotherhood-backed president Mohamed Morsi in the summer 2013, pledging billions of dollars in aid to the new Egyptian government.

Egyptian revolution of 2011

2011 Egyptian revolutionEgyptian revolution2011 Egyptian protests
Sisi, who vowed to tackle the country's economic turmoil since the 2011 revolution, has announced austerity measures to lower Egypt's budget deficit.

International Monetary Fund

IMFInternational Monetary Fund (IMF)the International Monetary Fund
In January 2015, the Egyptian government told an International Monetary Fund delegation that it aims to achieve a 3.8% growth rate by June, claiming that Egypt's economy grew by 6.8% in the third quarter of the previous year.

Christine Lagarde

Lagarde
During the conference, the IMF's chief, Christine Lagarde, praised the government's 2014 energy subsidy reforms and its plans to increase investment in the country, but she noted, citing World Bank figures, that it takes over 60 days to register property in Egypt and over 1000 days to enforce a contract.

World Bank

The World BankIBRDWB
During the conference, the IMF's chief, Christine Lagarde, praised the government's 2014 energy subsidy reforms and its plans to increase investment in the country, but she noted, citing World Bank figures, that it takes over 60 days to register property in Egypt and over 1000 days to enforce a contract.

Khaled Fahmy

During the first day, the Egyptian minister of environment, Khaled Fahmy, revealed a new biofuel project in cooperation with the agricultural sector.

Biofuel

biofuelsbio-fuelbio-fuels
During the first day, the Egyptian minister of environment, Khaled Fahmy, revealed a new biofuel project in cooperation with the agricultural sector.

General Electric

GEGeneral Electric CompanyGeneral Electric Co.
General Electric announced at the conference that it would invest $200 million in a new training and manufacturing facility in the city of Suez and that it had delivered 34 gas turbines as part of a project to supply 2.6 gigawatts to its grid by May 2015.

Suez

Suwaysal-Suwaysal-Ḳulzum
General Electric announced at the conference that it would invest $200 million in a new training and manufacturing facility in the city of Suez and that it had delivered 34 gas turbines as part of a project to supply 2.6 gigawatts to its grid by May 2015.

Gas turbine

turbine enginegas turbinesturbine
General Electric announced at the conference that it would invest $200 million in a new training and manufacturing facility in the city of Suez and that it had delivered 34 gas turbines as part of a project to supply 2.6 gigawatts to its grid by May 2015.

Electrical grid

power gridgridelectricity grid
General Electric announced at the conference that it would invest $200 million in a new training and manufacturing facility in the city of Suez and that it had delivered 34 gas turbines as part of a project to supply 2.6 gigawatts to its grid by May 2015.

John Kerry

KerryJohn F. KerryJohn Forbes Kerry
U.S. Secretary of State John Kerry attended the conference and delivered a speech of encouragement to Egypt's economy during an American Chamber of Commerce event.

United States Chamber of Commerce

U.S. Chamber of CommerceChamber of CommerceAmerican Chamber of Commerce
U.S. Secretary of State John Kerry attended the conference and delivered a speech of encouragement to Egypt's economy during an American Chamber of Commerce event.