{"id":654246,"date":"2024-10-30T00:00:00","date_gmt":"2024-10-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/30\/madbouly-delivers-speech-at-ksas-future-investment-initiative-forum\/"},"modified":"2024-10-30T00:00:00","modified_gmt":"2024-10-30T00:00:00","slug":"madbouly-delivers-speech-at-ksas-future-investment-initiative-forum","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/30\/madbouly-delivers-speech-at-ksas-future-investment-initiative-forum\/","title":{"rendered":"Madbouly delivers speech at KSA\u2019s Future Investment Initiative forum"},"content":{"rendered":"

Good m<\/strong>orning, lad<\/strong>ies and gentlemen. <\/strong>We have a busy issue for you this morning as we race towards the end of another week. <\/p>\n

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Inside the biggest stories transforming the Arabian Peninsula and the world<\/strong><\/p>\n

Introducing Semafor Gulf<\/a> \u2014 your go-to source for understanding the rising influence of Saudi Arabia, the UAE, and Qatar. Three times a week, the Semafor Gulf newsroom will bring you original reporting that examines how the region's financial, business, and geopolitical decisions shape the world \u2014 from culture and investment to infrastructure, climate, and technology. Navigate the region's capital, influence, and power with Semafor Gulf \u2014 subscribe here at no cost.<\/a> ***<\/strong><\/p>\n

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MADBOULY AT KSA\u2019S FII FORUM- <\/p>\n

<\/a> Madbouly talks development and geopolitics at \u201cDavos in the Desert\u201d:<\/strong> Prime Minister Moustafa Madbouly delivered a speech on behalf of President Abdel Fattah El Sisi during the opening session of the Future Investment Initiative (FII)<\/a> conference in Riyadh \u2014 often referred to as \u201cDavos in the Desert\u201d \u2014 where he focused on pushing forward development amid regional strife, according to a cabinet statement<\/a>. <\/p>\n

Madbouly presented Egypt\u2019s four-pronged development strategy: <\/strong>Madbouly\u2019s speech revolved around Egypt\u2019s approach to securing sustainable and inclusive development, with a particular focus on empowering the private sector and further developing our energy sector, transport and infrastructure networks, and telecom and CIT industry. In particular, the PM highlighted our plans to diversify our energy sources, become a regional energy hub, capitalize on our geographical location in transport and logistics networks, and realize the potential benefits of AI.<\/p>\n

Geopolitics was also among the key talking points: <\/strong>Madbouly emphasized Egypt and Saudi Arabia\u2019s shared role as \u201cthe main pillars of security and stability in the region,\u201d saying that \u201cthe security of the Gulf states is an integral part of Egypt\u2019s national security.\u201d The PM also reiterated the two nations\u2019 shared stance on the crisis in Gaza, emphasizing the need for a ceasefire agreement and the establishment of a Palestinian state.<\/p>\n

Madbouly held a number of bilateral meetings on the sidelines of the event<\/strong>, including a meeting with his Vietnamese counterpart<\/a> <\/a><\/strong>Pham Minh Chinh<\/a> that saw the two sides discuss boosting trade and investment ties. The PM also met with the FII Institute\u2019s CEO Richard Attias and Kuwaiti Finance and Economic Affairs and Investment Minister Noura Al Fassam, according to a separate cabinet statement<\/a>.<\/p>\n

** You can find out everything you need to know about the forum <\/strong>in a rundown of the<\/a><\/strong>event that EnterpriseAM KSA published yesterday<\/a><\/strong> and check out today\u2019s issue of EnterpriseAM KSA for its recap of day one of the event.<\/p>\n

HAPPENING TODAY- <\/p>\n

<\/a> #1- Supply Minister Sherif Farouk is in the Jordanian capital <\/strong>to attend a forum on Accelerating Food Systems Transformation in the Arab Region<\/a> jointly organized by the Jordanian government and UN organizations, according to a statement<\/a>. The two-day forum, which begins today, will discuss strengthening food security in the region and bilateral cooperation to improve food systems.<\/p>\n

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<\/a> #2- The CEO Women Conference is finally here:<\/strong> The CEO Women Conference<\/a> is taking place later today under the theme The Future of Healthcare in Egypt. The conference will highlight women's role in healthcare, the global focus on public health, and the role of AI in healthcare. The event \u2014 which will be held at the Four Seasons Hotel \u2014 will also debut the Entrepreneur Zone, a platform that will allow female entrepreneurs to showcase their innovative projects, connect with investors, and build valuable partnerships.<\/p>\n

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#3- Attention, real estate players: <\/strong>The Decision Makers Conference<\/a> is putting the country\u2019s real estate sector in the spotlight today, bringing together 500 attendees and over 30 speakers to discuss the country\u2019s real estate sector. The conference will host sessions on urban development strategies, attracting foreign investment, and the current challenges and promises of Egypt's real estate industry with input from leading public and private sector players.<\/p>\n

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The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

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PSA- <\/p>\n

WEATHER- We\u2019re in for another cool day in Cairo<\/strong>, with a high of 26\u00b0C and a low of 18\u00b0C, according to our favorite weather app.<\/p>\n

It\u2019s just as cool in Alexandria<\/strong>, with a high of 26\u00b0C and a low of 19\u00b0C.<\/p>\n

** DID YOU KNOW that we now cover <\/strong>Saudi Arabia<\/a><\/strong> and the <\/strong>UAE<\/a><\/strong>?<\/strong><\/p>\n

** Were you forwarded this email?<\/strong> Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p>\n

CIRCLE YOUR CALENDAR- <\/p>\n

Premium Healthcare to vote on acquisition of three labs operators next month: <\/strong>Premium Healthcare\u2019s, previously known<\/a> as City Lab, ordinary general assembly will meet on Thursday, 21 November to discuss and vote on the acquisition of three companies \u2014 Maadi for Lab Acquisitions, Ezz Laboratories, and a hospital management services provider, according to an EGX disclosure (pdf)<\/a>. The acquisitions have a combined price tag of EGP 1.1 bn, with Maadi for Lab Acquisitions being the most costly at EGP 478 mn. <\/p>\n

We knew this was in the pipeline:<\/strong> The company announced last month<\/a> that it intends to fully acquire four local labs operators \u2014 in addition to the hospital management services provider, which was not on last month\u2019s list \u2014 in a EGP 991.7 mn acquisition spree. <\/p>\n

Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n

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THE BIG STORY ABROAD- <\/p>\n

It\u2019s another mixed day in the foreign press <\/strong>dominated by US elections news as Kamala Harris delivers her closing remarks ahead of elections, more strikes in Gaza and a worsening humanitarian crisis, and a smattering of business news courtesy of earnings season. <\/p>\n

#1- Less than one week from the US elections, Harris doubled down on her fight against The Donald with closing remarks at the Ellipse<\/strong>, where Trump had rallied his supporters on 6 January to fight against his loss in the 2020 elections, resulting in the US Capitol riot. She said Trump was \u201cunstable, obsessed with revenge, consumed with grievance and out for unchecked power,\u201d a day after Trump\u2019s rally in Madison Square Garden hit a lot of nerves due to racist remarks from his allies. (Reuters<\/a> | CBS<\/a> | Semafor<\/a> | The Guardian<\/a>) <\/p>\n

#2- At least 93 Palestinians \u2014 at least 20 of whom were children \u2014 were killed in northern Gaza yesterday in an airstrike on a residential building<\/strong>, an attack which the US called \u201chorrifying,\u201d Reuters<\/a> reports. The US envoy to the United Nations also said Israel is not tackling the \u201ccatastrophic humanitarian crisis\u201d in Gaza, as it faces a looming deadline imposed on 13 October to facilitate aid into Gaza or potentially lose US weapons support, the Guardian<\/a> reports separately. <\/p>\n

ALSO GETTING ATTENTION- Hezbollah appointed a new successor to its slain leader Hassan Nasrallah,<\/strong> Naim Qasem, in a move showing \u201ccontinuity\u201d and \u201cresilience,\u201d experts say. (Bloomberg<\/a>) <\/p>\n

#3- A handful of earnings are getting attention:<\/strong><\/p>\n