CAIRO, 29 November, 2019 - A high-level mission from the United Nations Industrial Development Organization (UNIDO) participated in Africa 2019: Investment for Africa Forum on 22-23 November in the New Administrative Capital in east Cairo. The forum is a platform for bringing together governments, the private sector, civil society and international financial institutions, and was held under the high patronage of H.E. Abdel Fattah Al Sisi, President of the Arab Republic of Egypt.
Ciyong Zou, Director of UNIDO’s Department of Programmes, Partnerships and Field Integration, took part in the panel discussion on Leveraging Partnerships for Inclusive Development in Africa: Upgrading Infrastructure. He addressed the importance of visionary leadership as the main route towards route towards inclusive and sustainable development. He also stressed on the importance of coordination to advance FDI flows and steering it towards the needed infrastructure development in Africa
Another panellist, H.E Dr. Édouard Ngirente, Prime Minister of Rwanda, stated that Africa needs more political and economic stability to attract investment. He also talked about the correlation between strategic planning of investment and optimizing its outcomes.
H.E Elysée Munembwe Tamukumwe, Deputy Prime Minister of the Democratic Republic of the Congo, spoke about regulations of Public Private Partnerships and investment laws as crucial instruments to protect investors’ and governments’ rights. In addition, she emphasized the great potential of infrastructure development and its relation to utilizing the Africa Continental Free Trade Agreement.
Stephanie von Friedeburg, Chief Operating Officer of the International Finance Corporation, highlighted the success of the solar energy project in Aswan as a result of the political will in Egypt. It is considered to be the largest solar energy project in the world. She stressed the necessity of partnership among donors to support development in African countries.
Dr. Bandar M.H. Hajjar, President of the Islamic Development Bank, discussed the importance of partnership in mobilizing resources for economic development in Africa, while Dr. Khaled Sherif, Vice-President of the African Development Bank, stressed the value of policy reform to trigger continent’s development.
As a concluding remark, H.E Dr. Sahar Nasr, Egypt’s Minister of Investment and International Cooperation, pinpointed the magnitude of economic reform and its impact on sustainable development, as well as the significant role of international financial institutions in financing development projects in Africa.
The session, which was moderated by CNN’s Richard Quest, addressed the high impact of regional and international partnerships on strengthening the continent’s infrastructure as a basic factor for inclusive and sustainable development in Africa.
For further information, contact:
Bassel Alkhatib, UNIDO Arab Programme