The event will include the participation of Arab and African delegations in collaboration with the Saudi Contractors Authority.
Builders of Egypt Forum to showcase the country's construction and complementary industries to Arab and African countries - Press Photo
The eighth edition of the Builders of Egypt Forum, the "largest event in the construction and building sector," will kick off on May 28th under the auspices of Dr. Mostafa Madbouly, Prime Minister of Egypt.
The event will include the participation of Arab and African delegations in collaboration with the Saudi Contractors Authority to showcase the strategy for exporting the Egyptian construction, complementary industries, and building sector to Arab and African countries.
The forum will also address mechanisms to enable Egyptian companies to participate in and expand their involvement in overseas development projects and to transfer modern Egyptian experience in infrastructure and housing to enhance the country's hard currency resources and sustain the companies' future work.
The event, attended by a broad ministerial presence and more than 300 executive leaders from major construction, real estate development, finance institutions, and local and regional business organizations, will focus on hosting the Kingdom of Saudi Arabia as an honorary guest at the forum this year.
This is due to the extensive development plans in the country, which is the largest market expansion for the construction industry in foreign markets during the next phase, providing multiple opportunities for export and business growth for years to come.
This requires more cooperation and the awareness of Egyptian companies about these opportunities, as the Kingdom offers a package of massive projects in various fields as part of its development plan that exceeds $150 billion in the coming years.
Moreover, Saudi Arabia leads the Islamic Contractors Union, which has been revived with the participation of 26 countries to enable Arab companies in the construction industry to acquire the funded project opportunities presented by the Islamic Development Bank, which foreign companies currently own 70% of, compared to 30% for Arab entities.
The forum, organized by "Excellent Communication" company, a subsidiary of the United Media Services (UMS) in cooperation with the African Union of Architects and Engineers, will be held under the title "Egypt's promising opportunities to export the construction and building industry to regional countries".
Egypt's construction sector, the second-largest employer in the country, is one of the significant contributors to the economy. Egypt's construction industry is expected to recover this year after being negatively impacted by the COVID-19 pandemic.
The government is working to create a business-friendly environment for investors, including a series of legislative reforms, simplification of procedures, and the establishment of industrial complexes.
