Egypt’s Sisi Closes Economic Conference With Call for Further Investment

Egypt needs hundreds of billions of dollars in investments to rebuild an economy struggling to recover from years of political unrest, the cash-strapped Arab country’s president said Sunday.

In a speech marking the end of a three-day economic conference in the Red Sea resort town of Sharm el-Sheikh, Abdel Fattah Al Sisi reiterated his commitment to peace and growth as he sought more investments from the international community, after receiving commitments worth billions of dollars.

Egypt signed investment deals worth more than $138 billion on the first two days of the conference, while its Arab Gulf neighbors—Saudi Arabia, Kuwait and the United Arab Emirates—pledged another $12 billion to help stabilize its economy. The total amount of investments it sealed at the conference is expected to rise after Sunday’s numbers are added, officials said.