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4 December – Minister of Finance Mohamed Maait and Minister of Transport Hisham Arafat joined the British Ambassador in Egypt Sir Geoffrey Adams and UK Trade Envoy Sir Jeffrey Donaldson in welcoming leading international infrastructure finance experts at the Public-Private Partnerships (PPP) Leaders Forum.
Industry experts of British companies Mott MacDonald, PwC and Pinsent Masons LLP are leading on the development of government strategies for the implementation of major infrastructure, including Public-Private Partnerships (PPPs), across the Middle East.
Other Ministerial representatives attended the forum alongside guest speakers from EBRD, IFC, and Orascom.
The forum aimed to identify the immediate actions required to kick start the Egyptian PPP programme, demonstrate to the wider investment and development community that Egypt has considered the lessons learned from past experiences, and explore in more detail project selection and best in class delivery of PPP projects, so as to promote programme success.
British Ambassador to Egypt Sir Geoffrey Adams said:
“I am proud Britain has played a significant role in supporting economic reform in Egypt. Britain has world-leading expertise in PPP, and as Egypt’s number one partner we want to make it available here.”
UK Trade Envoy Sir Jeffrey Donaldson said:
“The UK has the world’s leading financial market and we are proud to be sharing our skills and expertise with the Ministry of Finance to develop its PPP financing system. The UK has already worked to provide finance opportunities to Egyptian companies, technical assistance to the Ministry of Finance and capacity building to the Egyptian stock Exchange employees. We look forward to taking this cooperation to new heights.”
Mott MacDonald recently acted as Lenders’ Technical Advisor on several high-profile regional infrastructure finance projects including Nubian Suns Solar Park and Ras Ghareb Wind Farm in Egypt, Istanbul Airport, Canakkale bridge, several major healthcare campus PPPs in Turkey.
Mott MacDonald`s Global Advisory Sector Leader, John Seed added in a recent report
“PPPs must be a catalyst for sustainable development. PPP frameworks can be a key element in our drive to deliver the sustainable infrastructure so urgently needed.”
Maged EzzElden, PwC Egypt Country Senior partner said:
“The improvement of political and economic conditions enables Egypt to revitalize its PPP Program. The demand of new infrastructure which is driven by the economic and population growth provides attractive opportunities to international capital and expertise. PwC believes that the use of PPPs can have wide reaching benefits for the country and it is here today to provide its views and advice on how these can be used effectively and to the maximum benefit of the county. PwC have been committed to Egypt and the Infrastructure program for many years and we continue to grow our presence in Egypt and support all the government infrastructure initiatives.”
Dominic Holt, Partner and Mario Salameh, Partner PwC Middle East Infrastructure and Government Team said:
“Public Private Partnership have been proven to provide both fiscal benefits as well as wider economic benefits, for example foreign investment and stimulus to the local manufacturing market. PwC supports the relaunch of the PPP program here in Egypt and seeks to maximise the economic and social benefits for the country which such a program can bring.”
Pinsent Masons LLP has had roles acting for both the public and private sector on a number of Egyptian PPPs as well as energy schemes such as the recent Feed-in-Tariff renewable energy program. Tim Armsby, Head of Finance and Projects for the Middle East at Pinsent Masons LLP added:
“I have been working in Egypt since 2003 and was privileged to have the opportunity to assist the Egyptian Government on a number of PPPs over the last decade. I was honoured to attend the PPP Leaders Forum and provide insights from our Egyptian and wider international experience to help Egypt re-start its PPP program. Egypt already has a considerable track record of attracting private sector investment in infrastructure and this Forum should provide impetus for a re-launch to the international markets.”
Distributed by APO Group on behalf of British Embassy Cairo.