Egyptian President Abdel-Fattah al-Sisi said Sunday that his country needs between $200 to $300 billion for development.
Al-Sisi’s remarks came during the closing session of Egypt Economic Development Conference, a three-day conference that was held in the Red Sea resort of Sharm el-Sheikh.
The Egyptian president said that a similar conference should be held every year and urged investors to work closely with the Egyptian government on reviving the country’s economy.
During the three-day conference, the Egyptian government has unveiled a host of investment projects at the conference in hopes of luring investment to revive its ailing economy.
Egypt received a total of $4.7 billion worth of foreign investment during the 2013/14 fiscal year.
The Egyptian government expects a four percent GDP growth in 2014/15, up from 2.1 percent the previous fiscal year.