Egypt to host 2016 World Economic Forum on MENA

Egypt will host the next World Economic Forum on the Middle East and North Africa at Sharm El-Sheikh in May 2016, President Abdel-Fattah El-Sisi announced Friday in a speech at this year's forum in Jordan.

In his address to delegates, El-Sisi said his country’s commitment to the political roadmap that was put in place after the ouster of former president Mohamed Morsi is “steadfast” and that procedures to hold the long-delayed parliamentary elections are “currently underway.”

Parliamentary elections, the first since 2012, were due to be held in March, but the Supreme Constitutional Court ruled that several electoral laws were unconstitutional and would need to be amended. New dates for the polls have yet to be set.

El-Sisi also reiterated the government’s commitment to its economic development plan, announced at the Sharm El-Sheikh economic conference held in March.

The plan focuses on reforming all legistlation relevant to businesses to attract investments, launching mega-projects, reforming the state budget, creating jobs, and establishing social programmes through which the those most in need will have access to subsidies as well as means to finance micro and small enterprises