Arab League Secretary General Nabil Al-Araby said that there are "huge hopes pinned" on the March 13-15 Egypt Economic Development Conference (EEDC) due in Sharm El-Sheikh in terms of attracting investors.
Hailing preparations for the event as being carried out in the best manner possible, he told reporters that "the government are preparing to roll out a huge number of projects that will have extremely positive outcomes." Al-Araby is scheduled to attend the event at Egypt's Sharm El Sheikh resort, where he is expected to deliver a speech, according to the Arab League's Assistant Secretary General for Political Affairs Fadhel Jawad.
"The Arab League welcomes this conference so as long as it contributes to the Egyptian economy and reflects positively on the interests of Arab nations," said Jawad.
"This is due to the stability and growth of Egypt being in the best interests of all (Arab nations)," he added.
Egypt's Foreign Ministry revealed that around 80 nations and 23 regional and international organisations have confirmed their attendance, including the European Union, represented by foreign policy chief Federica Mogherini, the UN Food and Agriculture Organisation (FAO), the World Bank and the International Monetary Fund, to name a few.
Also expected is a "heavy turnout" of international businesses and representatives of the Geneva-based non-profit organization, the World Economic Forum, according to ministry spokesperson Bader Abdulaati.
He also confirmed the presence of the Kuwait Fund for Arab Economic Development.