 Your Majesties, Provost Ashwab, distinguished heads of state, heads of government, ladies and gentlemen, I would like to extend a welcome to his excellency, Abdul Fatah Sisi, the President of the Arab Republic of Egypt. Last time we saw in general intervals, a lot has happened since, of course in Egypt, but as well for the World Economic Forum. We are now officially recognized as an international institution for public-private cooperation, based on values such as impartiality, civic engagement and economic inclusion. So thank you very much for joining us in such an important time for Egypt's transformation. The last year's development has changed the lives of Egyptians, has influenced regional dynamics and attracted a lot of international attention. And there's a clear commitment by the international community to support Egypt's drive through prosperity and a better life for its people. And there's also, inside the international community, the expectation of a democratic elections later this year. And we would like to hear from you how this electoral momentum can be translated into increased societal cohesion in Egypt. And we are meeting also here in a moment in which Egypt returns as a key regional stakeholder. Egypt's role is critical in Libya, in the Israeli-Palestinian conflict, as well as in Syria and Yemen. And in particular, we need you, we need Egypt in the fight against violent extremism. So ladies and gentlemen, 90 million people, a unique geography, a great history. Of course, Egypt can be a catalyst for prosperity and peace in the region. So now Mr. President, we would like to hear from you, your vision for your country in the region, as well as for your government to foster the trust of its people. Mr. President, the floor is yours. In the name of God, the most merciful, the most compassionate. Your Majesty, King Abdullah II, Ibn al-Hussain, King of the Hashemite Kingdom of Jordan. The Executive Chairman of the World Economic Forum, Professor Schwab, Your Highnesses and Excellencies, ladies and gentlemen. It is with great pleasure that I accept the invitation to participate in this important forum which gains distinction by being hosted in the Hashemite Kingdom of Jordan under the auspices of His Majesty King Abdullah II, my dear brother. The Arab region is undergoing a period of profound transformation and is facing grave challenges at the political, economic, and security levels. The depth and severity of these challenges require combined efforts on the part of the international community to address them. Such international efforts should be conducted in parallel with national efforts in this regard and that can only be successful through close cooperation between governments and the private sector or among governments, the private sector and the civil society organizations so that the root causes of these challenges can be diagnosed and means of overcoming them determined. In this way, the aspirations of the Arab peoples for progress and development will be realized. You may agree with me that it is not possible to understand the nature of transformations in the region through foreign perspectives or foreign preconceptions. Hence, no party from within or outside the region should seek to exploit this state of flux that may accompany the transformation phase to impose certain views on the countries of the region or to subject these countries to a particular vision or perspective. For the present, it can only be determined by the peoples themselves on the basis of their will and awareness. The future belongs to the youth, the youth alone. No one else can determine the shape of the future but the youth through their ambitions and capabilities. Enhancing the role of youth can no longer be considered a luxury. It has become an imperative, particularly in countries and communities that encompass a large percentage of the youth with what they represent in terms of hopes for a better future. Their energy should be channeled towards the right direction to drive production and to realize the desired progress and development. Providing job opportunities and increasing employment rates are the most important ways to safeguard the youth and to harness their capabilities, to safeguard the youth against extremism and terrorism and to harness their capabilities in order to avert negative repercussions on this vital segment of society. This should take into account that a large proportion of the youth are adept at using modern technology and communication tools. Efforts should be made to prevent the misuse of modern technology in disseminating extremist thought and to ensure that it is used in the way it was originally intended to disseminate culture and knowledge and to enhance positive interaction amongst peoples and civilizations. The challenge posed by the issue of investing in the youth is not just an item on the agendas of governments. It is a key issue that should constitute an area of cooperation and integration of efforts between the government and business sectors. We are all in the same boat. The prosperity that we all aspire to and the peace and stability necessary for sustainable development cannot prevail except through this cooperation and integration between the government and the private institutions in our region and also between them and other countries and regions. The threats in today's world have transcended boundaries and none of us can afford to fail in our cooperation and coordination to eradicate them. Intellectual stagnation emanating from extremism and religious and sectarian fanaticism is increasing in severity as a result of despair, frustration and the decline in values of justice in all its forms. Therefore, our efforts to eliminate extremism and terrorism must be coupled with endeavors towards realizing a future where freedom, equality and pluralism prevail. That is free of oppression, injustice and exclusion. These efforts, however, cannot be completed without complementing them with well thought out plans to eradicate poverty, which embodies the other dimension of the basic human rights in our region. It is unacceptable that poverty continues to be a source of suffering for a large segment of our population in spite of the huge economic potential of our countries. Eradication of poverty can only be realized through comprehensive and vigorous economic and industrial development that is robust and sustainable, one that includes in its priorities fostering micro, small and medium enterprises given that they are one of the most important components for achieving comprehensive development. This can unleash innovation and creativity in the Middle East and North Africa region. It can generate new jobs to accommodate a large share of the labor force as well as to combat unemployment particularly amongst the youth. We have faced in Egypt the danger of attempting to impose one single view and to exclude anyone who disagrees with it. Our people succeeded in overcoming that attempt and faced the accompanying intimidation and violence. It faced it with all courage in order to secure the future of generations to come in Egypt and in the region. Today we are living with similar threats in the region that are derived from the same source. They are seeking through terrorism to destroy state structures and to fragment people by exploiting religious, sectarian, or ethnic affiliations to recruit and mobilize the youth. These youth were victims in previous periods of poor investment in their capabilities and talents. In Egypt, a country rich with youth, we are well aware that we must start now to build the future of our country and our region. We should start today. We are also aware that we have a demographic window of opportunity extending until 2050 to make use of the energy and capabilities of the youth who are of working age during this period. This impels us with all our might to implement real and ambitious projects in order to make use of this potential. In this context, the Egyptian government began implementing a comprehensive development program until 2030, aiming to attract investment and to encourage work in a safe and stable environment. It is based on implementing an economic reform program and enhancing the investment climate by reviewing all related legislation with a view to encouraging investments and attracting capitals. This work has culminated in issuing the new investment law. The executive regulations of that law will be issued shortly. A number of legislative amendments have also been introduced, such as regulating appeals on government procurement procedures, the antitrust law on protecting competition and preventing monopolistic practices, as well as the corporate law and the special economic zones law. The government also launched a number of mega development projects. First and foremost is the new Suez Canal project, which is a huge economic and commercial leap forward on national and international fronts. Other projects include developing the Golden Triangle area, which is replete with mineral reserves, developing the Northwestern coast and its desert hinterland, the East Auenat project, as well as preparing other projects that are expected to be finalized in the coming period, particularly establishing a global logistics center for grain storage, in addition to a number of productive projects that provide real job opportunities for the youth. We had the opportunity to shed light on these efforts during the Egypt Economic Development Conference in Sharm al-Sheikh in March. That conference witnessed significant international participation from countries and the global private sector. It led to the signing of several agreements to launch economic mega projects, including important projects in the field of power generation, in addition to increasing the state's reliance on new and renewable energy in a manner that would enable us to expand economic activity and increase investment in a number of fields. The Egyptian government is also working on developing social security networks and subsidies to protect the poor and low income households. It is launching the dignity and solidarity program in collaboration with development partners to support social security networks in Egypt and to widen the scope of these networks. This shall be based on transparent and efficient mechanisms and criteria to ensure access to subsidies by the most vulnerable groups and to improve the levels of services provided to them. Egypt has achieved remarkable economic progress over the last period as evidenced by reports of international economic and financial institutions and the positive forecasts regarding the performance of the Egyptian economy and the rise in their confidence in the Egyptian economy, particularly from credit rating institutions that revise their forecasts and outlook for the Egyptian economy from stable to positive. In parallel to the successes realized on the economic level, our commitment remains steadfast regarding the full implementation of the political road map, which was adopted after the June 30th revolution. The referendum on the constitution and the presidential elections were held amidst broad popular participation in a fair and transparent environment. The procedures pertaining to the holding of parliamentary elections are currently underway to conclude building our state institutions. I am confident that the constructive dialogue and fruitful interaction at this forum will strengthen the working relations amongst the participants and will lay the foundations for new and extended relations that benefit from ideas expressed during the meetings and tunnel discussions. Given Egypt's commitment to enhancing and strengthening these relations and to providing opportunity for an increased exchange of views and openness to creative ideas, I wish to announce Egypt's hosting of the next meeting of the World Economic Forum on the Middle East and North Africa in May 2016. And the forum will be held in the city of Sharm al-Sheikh. I invite all of you to participate with further ambition and aspiration for the future through the intellect and the hard work that distinguish meetings of the World Economic Forum. I look forward to meeting you again in the land of Egypt. And I welcome you as dear guests and loyal partners in fulfilling common interests that serve the prosperity and stability of our peoples. Thank you for your attention.