President Abdel Fattah El Sisi was at center stage last night after he inaugurated a three-day conference titled “Story of Homeland: Between Vision and Achievement” in the new capital yesterday (watch, runtime: 14:19). In his remarks, El Sisi addressed reducing imports, developing local industries, and encouraging Egyptian and foreign investors to work with the government on some 150 projects that could raise USD 25 bn for the state.

In vestors want land — and Egypt will provide it, El Sisi said: “If we need more [industrial complexes] we will create a second, third and fourth. We will employ people, increase the local product, and reduce the import bill, because it is the only way to keep the country moving forward,” El Sisi told the conference.

Everyone and their mother was commenting on the speech last night: Conference coverage was highlighted by Kelma Akhira (watch, runtime: 2:34), El Hekaya (watch, runtime: 3:08), Ala Masouleety (watch, runtime: 3:17) Al Hayah Al Youm (watch, runtime: 7:20) and Qahira News (watch, runtime: 8:48).

E lection 2023: El Sisi — who is still yet to announce his candidacy for the election — told the crowd: “This is what we did. You have the opportunity for change in the upcoming elections. It’s all up to God.”

New candidates: Three party leaders have announced their intentions to run for office after receiving the required number of recommendations from House of Representative members, including head of the Egyptian Democratic Party, Farid Zahran ; head of the Wafd Party, Abdel Sanad Yamama; and head of the Republican People’s Party Hazem Omar, Ahmed Moussa said on Ala Masouleety (watch, runtime: 2:59). Masaa DMC’s Osama Kamal interviewed Omar to discuss the details of his electoral campaign (watch, runtime: 2:52 | 5:06 | 4:47), including his vision for the private sector’s role in the economy, and his plans for tax, education and health.

Also from the conference:

  • Budget deficit to widen: The budget deficit is expected to widen to 6.9% of GDP in the current fiscal year before narrowing to 4.7% by FY 2027-2028, Finance Minister Mohamed Maait said (watch, runtime: 27:12).
  • Oil + gas exploration: Oil Minister Tarek El Molla announced a plan to drill 110 exploratory oil and gas wells by 2030, with investments amounting to USD 4.8 bn (watch, runtime: 31:17).
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