About what economic meet meant for Cairo

(MENAFN- Arab News) Back to business: The March 13-15 conference made the world sit and take note of Egypt that meant business. Ideas and projects rained down as did funds worth billions.

n Bright future: President Abdel Fatah El-Sissi embarked on grand ambitions: ''Egypt The Future'' summit that kicked off in the Red Sea resort of Sharm El-Sheikh gave all indications of a ''New Egypt.''

Trending on trades: Images of protest resistance and dissent were drowned into the Red Sea. El-Sissi gave the country a business makeover drawing funds worth $142bn by way of investments loans and grants. Saudi Arabia Kuwait the UAE and Oman too chipped in with grants and investments worth $12.5 bn.

Major deals: A $12 billion deal was struck to develop new sources of oil and gas in the West Nile Delta to cope with Egypt''s energy crisis. The new ''smart city'' is another ambitious project.

United they stand: Crown Prince Muqrin affirmed Saudi support for Cairo''s battle against terrorism. A UAE minister wrote: Its security and stability is the region''s security and stability.

Banking on Egypt: IMF looked upbeat. Managing Director Christine Lagarde praised Cairo for being on right course to an economic transformation anticipating a growth rate of 4% for Year 2015-16.

What next? El-Sissi has set massive expectations that have placed heavy responsibility on his shoulders. Transparency and a corruption-free administration will be key to translating those dreams into reality to begin with.

Misplaced obsession: At the summit US Secretary of State John Kerry said: ''We will all strive for the future of Israel.'' A slip of tongue! He soon apologized.

Pick of the day: Egyptian PM Ibrahim Mahlab said: The train is leaving the station and we are moving ahead; join or you will be left behind. A clear message to those who are still reluctant to recognize the new Cairo.

The leader: The meet has repositioned El-Sissi as a strategic pillar in the region. Will he help revive Palestine talks too? A tough ask.



10 things about the goals and expectations

The summit launched a four-year economic development and investment program putting the nation on a path of inclusive and sustainable growth.

It was attended by monarchs emirs heads of state and government officials from the EU Russia and China as well as 2000 corporate and private potential investors from 112 countries. Sounds a resounding success!

Any doubt about El-Sissi''s capability to transform Egypt? Think again. While his initiative to reinvigorate economic vision has injected fresh hopes it also ejected the divisive policies of Brotherhood from the mainstream discourse. For now at least.

The summit was masterstroke to lift the sagging morale of Egyptians as also to instill confidence in the investors.

It has provided Cairo with the financial wherewithal to meet its energy needs improve infrastructure create jobs provide housing for low-income citizens.

The summit gave fresh impetus to the idea of an Arab unity necessary to counter threats from groups like IS as also to take a joint stand on Palestine.

The project promises thousands of permanent jobs and a higher standard of living for many people.

The Egypt 2030 plan targets unemployment reduction to 5% eliminate illiteracy completely place its 10 universities among the world''s 500 best and make Egypt one of the top 20 countries in registered patents.

Is this all enough? Well expectations are sky high but the overall effect of those goals on the common Egyptians will be eagerly awaited.

El-Sissi''s ambitious step has catapulted the nation from a social and political chaos that had engulfed it for the last four years. The tee shot is hit; let''s see if it goes into the hole.



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