Good afternoon, everyone, and thank you Rick for the warm introduction.
Thanks also to Sylvia and the whole AmCham team for the hard work that goes into putting these events together, and to the Board and Members of AmCham for sustaining the vibrant partnership with the U.S. Embassy.
For decades, AmCham has been the Embassy’s vital partner in boosting trade and investment between the United States and Egypt, and that’s one reason why I’m so happy to be speaking with you today.
While my role as Ambassador includes promoting U.S. companies in Egypt, it also involves showcasing the United States as the best place for Egyptian investors to expand beyond their national borders.
And it’s not just me saying this! For the 9th consecutive year, A.T. Karney, the global management consulting firm, ranked the United States the #1 destination for foreign investment. With an annual GDP of $20 trillion and population of over 325 million, the United States is the world’s most attractive consumer market, offering unmatched diversity, a thriving culture of innovation, and the world’s most productive workforce. Companies of all sizes – from startups to multinationals – can find the ideas, resources, and market to succeed and grow. No company is too small or too big – and if you represent a small or medium sized enterprise, you should know that SMEs are the backbone of the U.S. economy, accounting for the highest number of new jobs created while spurring creativity and innovation.
Despite the challenges of COVID-19, the U.S. fosters a business culture that attracts investors worldwide, including from Egypt. Today, I’ll highlight how you as Egyptian businessmen and women can invest in America through the SelectUSA Program.
Since their inception, SelectUSA’s Investment Summits have facilitated more than $48 billion in direct investment into the United States. The U.S. government’s SelectUSA team supports investors through client services, such as: assistance navigating the federal and state regulatory environment, market research, and business counseling.
Investors seek out established markets that are safe, stable, and predictable. They look for well-developed infrastructure, strong governance and rule of law, economic incentives, transparency, and an enabling environment for driving creativity, innovation, and growth. These are all attributes the U.S. market offers to investors.
For Egyptian investors considering the United States, there is no better place to connect this year than the virtual 2021 SelectUSA Investment Summit taking place June 7-11. This is the United States’ marquee event dedicated to attracting FDI. It plays a key role by raising awareness about the wide range of investment opportunities and facilitating direct connections between investors and economic development organizations of all 50 of our United States.
As in previous years, this year’s Summit will feature plenary addresses, seminars, and breakout sessions by senior U.S. government officials, C-Suite business executives, and other thought leaders as well as a SelectUSA Investment Academy for first time investors and the SelectUSA Tech program for early-stage and startup companies to deliver pitches to prospective investors in the U.S.
New this year, the SelectUSA Global Women in Tech session will offer female entrepreneurs unique mentorship and networking opportunities led by successful female founders and investors who have expanded their business operations to and in the United States.
Due to the pandemic, SelectUSA was canceled last year. But the 2019 Summit was one of the largest, drawing more than 3,000 attendees to Washington, D.C., including the first ever delegation from Egypt, which, of course, included members of the AmCham!
That robust delegation included representatives from El Sewedy, the dynamic energy solutions firm headquartered here in Cairo. In a few minutes, you’ll hear from El Sewedy’s Ahmed Badr, who participated in the 2019 Summit. We are proud that El Sewedy’s participation led to it setting up premises in Houston, Texas that will soon be officially inaugurated!
What really makes the SelectUSA Summit so successful? First, it’s a place to explore: more than 100 virtual exhibitors will showcase investment opportunities from nearly every state and territory of the U.S.
It’s also a place to learn: high-profile business and government leaders will share insights on the latest business and investment policies and trends.
And, it’s a place to make business deals happen: participants will find the practical tools, information, and connections they need to move their investment ideas to fruition.
As Sylvia and others can attest, the Summit offers the ability to network via B2B meetings, plenary and breakout sessions, and B2G meetings with government leaders. It will provide you with unique access to people, resources, and information in one place as you begin to chart your investment journey.
Again, the numbers speak for themselves. Over the years, the Summit has directly attracted more than $48 billion in new investment projects across the United States. But this is not just a one-way street. Investors will have access to ideas, capital, knowhow, and the world’s largest and most diversified market to take their businesses to a higher level. The experience and profits gained in the United States can be reinvested back here in Egypt and elsewhere in the world. As the U.S. Ambassador to Egypt, I would love nothing more than to see more Egyptian firms like El Sewedy help strengthen the mutually beneficial economic relations between the United States and Egypt by investing in the U.S.!
I hope you will join us in this year’s SelectUSA Investment Summit. Please reach out to Rick Ortiz and his team to get more information on the Summit and for help with registration. I look forward to seeing many of you virtually at the Summit and hopefully in person before then.
Thank you very much for your continuing partnership and for your attention today.
For further inquiries about SelectUSA, please contact:
Embassy of the United States of America | Cairo, Egypt
Rania.Mekhail@trade.gov | +202 2797 3487 | +202 2797 8368
Embassy of the United States of America | Cairo, Egypt
U.S. Department of Commerce | International Trade Administration
Eli.Corso-Phinney@trade.gov | +20 122 223 8002