Egypt to host COMESA’s 3rd Investment Forum

PRESS RELEASE – For immediate Broadcast
London, UK, 12th February 2010

Egypt to host COMESA’s 3rd Investment Forum

“Unleashing investment opportunities in Africa’s largest trading block”

The COMESA Regional Investment Agency (COMESA RIA) is pleased to announce that the 3rd COMESA Investment Forum will take place from the 12th-13th April 2010, in Sharm-El-Sheikh, Egypt, under the auspices of H.E. Mohamed Hosny Mubarak, President of the Arab Republic of Egypt.

Organised by COMESA RIA, in collaboration with the Egyptian Ministry of Investment and General Authority for Investment (GAFI), this forum will focus on driving investment to COMESA and Africa as a whole.

Ministers from the 19 member states will be present at the Forum. Participation is strictly by invitation and will bring together senior policy makers with regional and international business leaders and investors. Speakers and participants include Donald Kaberuka, President of the African Development Bank, Dr Ahmed Heikal, Chairman of Citadel Capital, Michael Joseph, CEO of Safaricom. One of the key addresses will be delivered by Dambisa Moyo, the controversial author of Dead Aid.

The comprehensive 2-day programme will cover all key issues on the sectors relevant to the COMESA region, such as infrastructure, ICTs, agriculture and agro-processing, renewable energy, financial services and tourism. Participants and potential investors will be able to engage one-on-one with ministerial officials deliberate these topics.

Sindiso Ngwenya, COMESA Secretary General, commented: “I am glad to say that we have seen considerable progress throughout COMESA member states who have improved their rankings in all international ‘doing business’ and ‘investment climate’ reports. COMESA as an organisation is committed to upholding economic and social progress to ensure regional economic integration and the governments of the individual COMESA regions will have their role to play. By attending this forum you will see that COMESA is truly open for business and this vast largely untapped market is ripe for investment.”

Dr Mahmoud Mohieldin, Hon Minister of Investment of Egypt, one of the key protagonists in Egypt’s recent economic reform programme, stressed the importance of a regional block: “Regional integration is key to enhance productive capacities and improve competitiveness of African economies, especially if we want to participate in an increasing globalised economy. This conference will serve as a platform to discuss investment opportunities and to forge genuine partnerships between the COMESA-Africa member states and the international business communities”.

COMESA comprises of 19 Member States stretching from Libya to Swaziland and was established to collaborate in economic development through deep regional integration. Today COMESA is Africa’s largest economic community. It has an estimated total population of over 400 million people. Its wide geographic diversity means that the opportunities are limitless. The region is rich in natural resources including minerals and oil and has a strategic location on the world’s major trade routes, the Suez Canal, the Red Sea and the Indian Ocean. The COMESA region is diverse economically and its sizable trading market offers unparalleled scope for investment within a thriving economic environment that still remains untapped.

Note to Editors
The COMESA Investment Forum is organised by IC Events on behalf of the Egyptian Ministry of Investment, in collaboration with COMESA RIA, under the auspice of H.E. President Mohamed Hosny Mubarak – The President of the Arab Republic of Egypt.

COMESA’s Member States include: Burundi, Comoros, D.R. Congo, Djibouti, Egypt, Eritrea, Ethiopia, Kenya, Libya, Madagascar, Malawi, Mauritius, Rwanda, Seychelles, Sudan, Swaziland, Uganda, Zambia and Zimbabwe.

About the Organisers

COMESA
The Common Market for Eastern and Southern African States (COMESA) is Africa’s largest economic community, with a market size estimated at over 500 million consumers by 2015. With its strategic location and economic and geographic diversity, it offers exceptional, unparalled opportunities for international investors. COMESA’s vision: To be “a fully integrated, internationally competitive regional economic community with high standards of living for all its people ready to merge into an African Economic Community.”

COMESA Regional Investment Agency (RIA)
COMESA RIA seeks to optimize investment and trade opportunities in the region through developing and establishing synergies, networks, alliances, and co-operation with other Regional Economic Communities, co-operating partners and international institutions so as to achieve high investment levels that lead to rapid and sustainable economic growth and development. The mission of the RIA is to transform COMESA into an internationally competitive investment area, which allows free movement of capital, labour, goods and services across the borders of Member States and thereby facilitate sustainable growth of private domestic and foreign investments in the region.

GAFI
The General Authority for Investment is the principal governmental authority concerned with regulating and facilitating investment in Egypt. Through its Research and Market Intelligence, Promotion and Facilitation and Investor Aftercare bodies, GAFI further developed its scope from a traditional regulatory framework into a proactive investment promotion strategy. GAFI represents Egypt’s sole "One Stop Shop" for investment, easing the way for investors worldwide to take advantage of the country’s emerging market and diverse economic sectors. With this objective, GAFI’s communicational campaigns aim to promote Egypt’s favourable investment climate worldwide.

IC Events
IC Publications has over 50 years experience in publishing magazines, newsletters, country supplements, industry reports and market intelligence on Africa and the Middle East. IC Events was developed to complement IC Publication’s publishing arm. Together with its dedicated team of specialists and extensive network of contacts, IC Events tailors innovative forums, roundtables and workshops responding to the most pressing issues in Africa and the Middle East. IC Events’ activities are 100% results-driven, bringing together the main stakeholders and partners involved in the topics tackled to achieve concrete action plans. IC Events represents a platform to inform, engage, explore and develop.

For more information visit www.comesainvestmentforum.com