انطلاق قمة مصر للأفضل بحضور وزيري المالية والتضامن الاجتماعي ورئيس المتحدة للخدمات الإعلامية

Dr.. Mohamed Maait: Expectations that the Egyptian economy will record growth rates of up to 3% in the current fiscal year and 4.2% in 2024-2025.

Amr El-Feki: We have 48 companies representing all types of media, artistic, documentary and sports production activity

Dina Abdel Fattah: “Egypt for the Best Summit” has achieved great successes for the ninth year in a row amid great challenges

Honoring the 100 best companies in the Egyptian market, the 50 most influential women, and many specific awards in the main economic sectors.

On Monday evening, the activities of the Egypt for the Best Summit kicked off in its ninth session under the patronage of Prime Minister Dr. Mostafa Madbouly, to honor the most influential figures and companies in the Egyptian economy and public life, and to celebrate those who are successful in many development sectors, in the presence of the Minister of Finance, Dr. Mohamed Maait, and the Minister of Solidarity. Social worker Nevin Qabbaj, Amr El-Feki, CEO of the United Media Services Company, Professor Dina Abdel Fattah, member of the United Company, Secretary-General of the Summit and editor-in-chief of Amwal Al-Ghad, Dr. Magdi Yacoub, and a number of important symbols and personalities.

At first, Dr. Muhammad Maait, Minister of Finance, expressed his happiness at attending the summit and conveyed the greetings of His Excellency the Prime Minister Dr. Mostafa Madbouly, stressing his keenness to attend the “Egypt for Better” summit, which plays an important role in supporting successful companies within the Egyptian economy.

Maait said, in his speech on behalf of the Prime Minister, that the Egyptian economy has been bearing additional burdens for four years, noting that growth expectations for the current year will range between 2.9% to 3%, and rise to 4.2% for next year. He stressed that these expectations are not commensurate with the ambitions of the Egyptian state, explaining that the weak growth rates are due to several factors affecting the state’s public finances, such as the decline in tourism and Suez Canal revenues, which decreased by more than 60%, in addition to the rise in the import bill and interest rates.

The minister pointed out that the current period is witnessing the availability of foreign currency, but government agencies and institutions are suffering from a lack of local currency liquidity, attributing this to the fact that the revenues of government agencies and institutions are not commensurate with their expenses.

He mentioned that the petroleum supplies item was allocated to support 119 billion pounds, but his estimates exceeded 125 billion in the current year’s budget, which prompted us to allocate 155 billion pounds to support petroleum products in the next budget. As for the aspect related to subsidizing electricity, he mentioned that there is a gap estimated at About 130 billion pounds. He also added that the state allocated 110 billion pounds to import wheat.

The Minister stressed that the state is aware of the dimensions of this corrective period that the country is going through, which imposes difficult conditions and challenges on the public and private sectors and affects businessmen.

Maait added that work is currently underway on another initiative for tourism at a reduced interest rate to create new hotel rooms at a specified value and reduced prices.
The minister continued, saying: “We worked on a package in March, and we raised the minimum wage, and we realize that this is insufficient and that we must make more efforts, and we realize that the citizen’s priority is to provide goods.”

The Minister of Finance stressed that the Egyptian economy, after 4 years of challenges, now has an opportunity to deal with those challenges better, and we are continuing the corrective steps to restore stability through cooperation and integration with the Central Bank, and through structural reform, referring to the steps that began with the golden license, And the state ownership document, and the proposals program, in addition to setting government spending at one trillion pounds.

The minister explained that for the first time a debt ceiling has been set for the general government, noting that the Egyptian government is for the first time using the term “general government” instead of “general budget,” which includes the budget and the general government, which includes 59 bodies, adding that it is expected to achieve revenues of $5. 3 trillion pounds compared to 6.6 trillion pounds in expenses. As for the debt ceiling, it is expected to reach 89% for the general budget and 96.4% for the general government.

He added that 40.5 billion pounds have been allocated to support industry and exports, and this includes allocating 23 billion pounds to support exports, 6 billion pounds to support electricity prices directed to industry, and 8 billion pounds to support interest within the low-interest financing initiative, and 1.5 billion pounds borne by the state as a result of real estate taxes. From sources, half a billion pounds to support the automobile industry.

The minister indicated that next Thursday will witness the disbursement of 5 billion pounds as part of the immediate cash payment initiative for export support dues, with another 4 billion pounds being disbursed on June 27, adding that work is currently being done in cooperation with the Ministry of Trade and Industry on the new program to support exports 2024/ 2025, to provide exemptions for industries amounting to between 35% and 55% of the calculated tax.

Maait said that the ministry is working to renew a draft law to end disputes, noting that 23,000 disputes have been received, 21,000 disputes have been completed, and only 2,000 disputes remain.

Maait stated that the government aims to provide one million job opportunities annually, including 880,000 new jobs from the private sector.
For his part, Amr El-Feki, CEO of the United Media Services Company, said that the company currently has about 48 affiliated entities representing all types of media, artistic, documentary and sports production activity.

He stressed in his speech during the activities of the ninth session of the “Egypt for Best” Summit that the company worked hard over the course of a year and a half to produce strong platforms that present the Egyptian voice to the Arab world, including the Cairo News Channel, which won the Media Excellence Award from Bahrain, and through it Egypt has a voice in the homeland. Al-Arabi presents the Egyptian message.

Al-Feki added that the documentary channel is one of the important platforms that the United Company was keen to launch in order to present the Egyptian vision, and within a year and a half it was able to make 52 documentary films about the history of Egypt, including the documentary film “Mother of the World” and the second part, “The History of the Pharaohs.”
He pointed out that next week a documentary film about the Holy Family’s journey will be released on the Watch it platform, referring to his meeting with His Holiness the Pope the day before yesterday, in which he expressed his happiness at the effort made to produce this documentary.

Regarding Egyptian drama, Al-Feki said that the company deals with about 18 or 19 producers in Egypt, taking care that the works presented take into account and suit all family members. Egyptian drama was able to go outside the Arab world to Indonesia, Russia and Malaysia and was shown on their platforms in their own language. A historical work of as high quality as The Assassins has been produced.
He noted that the Egyptian drama was shown on 39 platforms and televisions outside Egypt, indicating that there are many dramatic works presented to the company for next year, but they have not been decided yet.

For her part, journalist Dina Abdel Fattah, editor-in-chief of Amwal Al-Ghad magazine and a member of the board of directors of the United Media Services Company, confirmed that the Better Egypt Summit has achieved great successes for the ninth year in a row, noting that over the course of the summit we have seen many stories and the brilliance of Egyptian companies, amid the circumstances. And crises, but it was able to achieve great successes despite the presence of some gaps.

She pointed out that Algeria’s companies, banks, institutions, pioneers and dignitaries will be honored and presented for the ninth year in a row.
Finally, she thanked Prime Minister Dr. Mostafa Madbouly for heading the new government, which was able to accept crises and solve problems during the past period.
Dina Abdel Fattah said, “We hope in the coming period that the government will provide facilities and achievements to support the Egyptian private sector.”

The summit, organized by Amwal Al-Ghad Economic Magazine and Excellent Agency, affiliated with the United Media Services Company (UMS), was launched under the slogan “Successful Egyptian Models in an Era of Challenges,” as many companies and individuals were able to achieve exceptional goals over the past year, despite the challenges of global crises and geopolitical tensions that affected It has directly affected the economies of countries, including the Egyptian economy, and has begun to attract local and regional attention with its multiple activities. It has also been able to redefine itself in the economic sectors, as major players with the ability to drive sustainable growth and enhance financial, industrial and commercial activities.

The Summit Awards identify the institutions that are making great efforts in the Egyptian market to launch the best work culture, implement effective operational and financial policies, create high-quality job opportunities, and produce high-value products that gain the confidence of the Egyptian consumer, and reflect the state’s efforts to enhance employment rates and economic growth despite the negative repercussions of the conflict. In the Middle East region and the Russian-Ukrainian war, its results also express the extent of the effectiveness of economic reform measures in strengthening the capabilities of the Egyptian economy to hedge against global crises, and confirming its growing strength, including companies and leadership figures capable of competing and succeeding.

The list of honorees this year includes main categories, including the best 100 companies in the Egyptian market in the main economic sectors, those ranked in cooperation with Thunder Securities Trading Company, the 50 most influential women in public life in cooperation with the 50 Women Forum, the outstanding entrepreneurs, and the best institutions in the field. Social responsibility and sustainability, in addition to distributing achievement awards in many sectors. “Amwal Al-Ghad” magazine is keen annually to conduct accurate research and classifications to issue lists of honorees as part of its keenness on neutrality and transparency, and to follow the scientific methods it adopts in cooperation with major research and financial institutions.
Lists of honorees are prepared annually in cooperation with a number of investment banks and economic analysis centers according to criteria related to “business performance, financial analysis, innovation, sustainability, and social responsibility,” in a direction for organizers to raise the level of global classification for local companies, in light of the development of the global economy and its reliance on… Qualitative classification, as a main reference in evaluating emerging economies, as despite the turbulent global economic conditions, Egyptian companies were able to record remarkable growth over the past year, led by the “banking, financial services, energy, industry, real estate, communications, and information technology” sectors.

This year’s summit discussions focus on the future of the Egyptian economy in light of the fundamental changes that have occurred in the global economy, with a reality that indicates the necessity of putting forward new ideas for investment that are compatible with new variables and the development of production methods, and the amazing progress in the data economy and artificial intelligence, and the resulting major change. in the structure of employment around the world, as well as challenges facing production economies that rely on traditional methods.

It is noteworthy that the “Egypt for Better Summit” is one of the most prominent major events that annually celebrate those who succeed in all economic and social fields in Egypt. Its first event was launched in 2015 and is held annually under the auspices of the Prime Minister and witnesses the participation of a number of ministers, officials and executive leaders of major institutions. Working in Egypt.