In a video conference held January 15, UNCTAD presented its World Investment Report 2007 to Egyptian Vi member, Cairo University. The videoconference was organized by the Virtual Institute in cooperation with UNCTAD's Division on Investment, Technology and Enterprise Development.
H.E. Ambassador Nihad Abdel Latif, of Egypt's Ministry of Foreign Affairs, expressed the hope that in the future there would be more opportunities for a dialogue between UNCTAD and Eyptian academics.
"This (dialogue) allows for a direct exchange that is of central importance to the process of economic development," added H.E. Sameh Shoukry, Ambassador, Permanent Mission of the Arab Republic of Egypt, who joined Ambassador Latif in welcoming the cooperation between the Virtual Institute and Cairo University.
Two of the report's authors, Jean-François Outreville and Riad Meddeb from the Division on Investment, Technology and Enterprise Development, provided an overview of the major trends and prospects in Foreign Direct Investment (FDI) worldwide, including types of FDI (Greenfield and Mergers & Acquisitions), sources and recipients, most favoured locations and companies' main motives for choosing a location to invest in. The second part of the presentation focused specifically on trends in the region (Egypt and the African continent) with an emphasis on investment in extractive industries - the core topic of this year's report.
The event gathered a varied audience ranging from economists (Arab League and Egyptian Banking Institute) and academics (Cairo and Ain Shams universities), to government representatives (Ministry of Finance, Ministry of Foreign Affairs, Permanent Mission of the Arab Republic of Egypt to the UN in Geneva). Sherine El Shawarby, Senior Country Economist of the World Bank Office in Cairo, hosted the conference.
Dr. Ahmed F. Ghoneim, Director of the Center for European Studies, and Vi member coordinator for Cairo University, emphasized the relevance of the World Investment Report to the country as "Egypt is among the top economic performers in Africa and top recipient of FDI inflows on the African continent."
Ambassador Shoukry added that the conclusions of the report have a considerable practical importance for Egypt "given the major contribution of extractive industries to the economies of African countries."