 Ladies and gentlemen, we come to a very special session with His Excellency Abdel Fattah Al-Sisi, the President of Egypt. Mr. President, I express a very cordial welcome to you to come here to our annual meeting of the World Economic Forum, and this occasion marks actually your first major speech to such an international, multi-stakeholder audience. And it is a speech at a time when great international attention is focused on your country, which plays such a pivotal role in the Middle East. We are keen to hear from you whether, after some years of significant turbulence, Egypt can find the much needed balance for combining security and stability with democratic rights and economic development with social inclusion. The regional role of Egypt, both in the Middle East and on the African continent, but far beyond, could not be more important. Ranging from the Palestinian-Israeli conflict to the security emergencies of Syria and Libya, Egypt is absolutely indispensable for finding solutions. Over the past year, your country has greatly strengthened its regional engagement, which is, of course, of key importance for security and peace. Mr. President, you recently delivered remarks at the Al-Assad University in Cairo, which were an inspiring appeal on behalf of moderation and against intolerance and extremism. You focused on the critical role religion plays in this respect and addressed your remarks to the Muslim world. Allow me to add, Mr. President, my voice here, and to underscore the global character and significance of this imperative. The world is at critical crossroads marked by fundamentalism, populism, and disintegration on one hand, and by tolerance and cooperation on the other hand, as I mentioned yesterday. It is therefore the responsibility of all of us here, not only leaders of different faiths but also leaders from business, government, and civil society to challenge the threat of extremism with constructive and an inclusive vision for our common future. Mr. Spirit, Mr. President, thank you for joining us in Davos this year. The floor is yours. You will have a discussion period moderated by my colleague, Philipp Reusel, but Mr. President, we are looking forward because you speak to us not only as the President of the country but someone who has significant influence on the future. Thank you. The name of God, the merciful, the compassionate. Before I start my speech, I would like to thank you all for having allowed me to be amongst you here during this forum. I would like to express my heartfelt thanks to you. Professor Klaus Schwab, your highnesses, excellencies, ladies and gentlemen, first and foremost I would like to thank Professor Schwab because his invitation to me to speak expresses the high regard in which he holds Egypt and its people. I am extremely proud to come from a country which participated throughout the ages in building human civilization. My country still continues to give to humanity because of all of the gifts and resources it was blessed with, foremost amongst these resources are human resources and the more difficulties our people face, the more determined they become to overcome them and they always overcome challenges and come out of them feeling victorious with the feeling of modest pride. Ladies and gentlemen, the challenges I have alluded to are not exaggerated, they are extremely present in Egypt and they are a large burden on the shoulders of the people of Egypt but the people of Egypt are extremely courageous and challenges and difficulties have never stopped them from aspiring to a better future for their country and also for the Muslim and Arab nation and for the world at large. Recent events have shown the abilities, the wisdom and the awareness of the people of Egypt. They did not hesitate to strip legitimacy from those who wanted to monopolize it and to use it to change the identity of Egypt and fear with it away from its historical characteristics. In this context I must emphasize the necessity of relying on the awareness of the people and listening to their voice. The millions who very recently surprised the world on the streets of France are an extension of the millions who flooded Egypt's squares almost a year and a half ago. The struggle is one. It is one against the very same terrorism that aims to impose on all of us its vision since it sees us all as its enemies, irrespective of differences of race or religion. The blood that terrorists spill in Egypt, Iraq, Syria, Libya, Nigeria, Mali, Canada, France and Lebanon is all of the same color. We must therefore mobilize all our efforts to eliminate the scourge wherever it exists by dealing comprehensively with all its constituent parts regardless of the different names it operates under. This must be done in full awareness of the political considerations that have given such movement space to penetrate our societies and through increasing cooperation in intellectual, cultural and security domains in addition to exchanging information in a more intensive manner amongst ourselves and working to prevent terrorist organizations from using social media and the internet to spread incitement and hatred and to recruit under the guise of false religious claims. I assert with all firmness that Islam as a religion with its values of tolerance embraced by more than a million, a billion followers should not be evaluated through the acts of criminals and murderers. At the same time, we as Muslims must also seek reform and reevaluate our perspectives so that we do not allow a minority to distort our history, jeopardize our present and threatened our future on the basis of a mistaken understanding or inadequate interpretations of the principles of our religion. Furthermore, the civilized world that upholds the same vision on the need to eliminate the threat of terrorism must steadfastly respect the diversity of our respective beliefs and should refrain from confrontation and harming sensitivities that are exploiting to promote evil goals and formulate the perceptions that conflict between us is inevitable. Ladies and gentlemen, the challenges and difficulties that we face in Egypt are not limited to terrorism, and our fight against terrorism will not prevent us from achieving our core ambitions for which the Egyptian people revolted. The building of modern institutions and the civil state will continue. After adopting the new constitution and holding presidential elections, the Egyptian people will complete their roadmap by electing their representatives in parliament. We all look forward to the role of parliament in legislating laws that implement the social contract laid out in the constitution. Such a contract guarantees that individuals will enjoy their rights and freedoms and fulfill their duties and responsibilities in a balanced manner within the rule of law regardless of gender or belief. We also look forward to the oversight role members of parliament will play to demonstrate a number of political perspectives that truly reflect a variety of ideas. Having said this, we also need to work seriously and continuously to meet the demands of the two Egyptian revolutions within the framework of a comprehensive, sustainable, and developmental vision for socioeconomic modernization that aims at opening new horizons and guarantees the rights of Egyptians to employment and a decent life through the full utilization of the enormous capacity of the Egyptian economy and its diverse resources, in particular its human resources and especially its youth who represent around two-thirds of the population. The implementation of this vision requires support from the private sector, attraction of investments, and the removal of obstacles to enable the private sector to perform its role as the engine of development within a framework of social responsibility. Simultaneously, the state and its institutions will create a conducive environment for comprehensive and sustainable development. The state will also assume its regulation and supervisory duty vis-a-vis policies and legislation and enhance opportunities for cooperation between the public and private sectors on development projects as well as securing the most vulnerable segments of society. Ladies and gentlemen, our efforts to achieve this vision are based on our confidence in the performance of the Egyptian economy and in the capabilities of the government and its commitment to execute policies that tackle the structural problems of the economy. These efforts are based on the following main pillars, first adopting sound fiscal and monetary policies by reducing the budget deficit and also taking bold steps to gradually minimize wasteful energy subsidies, protect the most needy and low income segments of the society, and improve the taxation system to increase revenue in order to significantly reduce the public debt and the budget deficit within four years. In parallel, we will follow monetary policy that is committed to reduce inflation. Second, tackling all obstacles that have previously hindered private sector investments and settling disputes between the government and both domestic and foreign investors. We must also enact legislation that guarantees equal opportunities for all investors as well as enhancing transparency, justice and the rule of law, especially in the areas of competition, micro-finance, in addition to adopting a unified investment law and enacting simplified procedures to guarantee effectiveness of the one-stop shop system. This is a continuous process that aims to lay the foundation for a conducive investment climate, and that contributes to comprehensive development and achieves growth rates of 7% while reducing unemployment to 10% by 2020. Third, dealing with the negative economic and social impacts that result from economic reform policies through achieving comprehensive and sustainable development and social justice. To achieve this, we seek to provide more job opportunities, expand small and medium-sized enterprises, and also give special attention to youth and women, and increase allocations for healthcare and education and scientific research so that they will reach 10% of GDP. Fourth, improve and develop infrastructure sectors by allocating more funds for investment in these sectors. Part of the funding will be provided through the budget, and another part through cooperation with development partners. We will also urge sovereign funds to invest in these fields. We will also work on developing mechanisms of cooperation between the public and private sectors to reduce the burden of funding infrastructure projects and achieve societal participation to build the future of Egypt. Fifth, achieve institutional reform through amending the laws, regulating the relationship between the government and the private sector, enhancing anti-corruption laws, and restructuring the pension system. Ladies and gentlemen, on the practical level, it is imperative to touch upon the ambitious national projects that provide promising opportunities for investors, such as the project of developing and creating a dual carriageway of the maritime channel of the Suez Canal. The second phase will entail developing the canal zone and opening the door for investments in the fields of logistical and industrial services alongside the waterway, benefiting from the strategic location of Egypt as a connecting point between Europe, Asia, and Africa. In addition, the first phase of the project to cultivate one million acres has already begun, and the new mineral resources law has been passed, which will invigorate the mining sector, which has been enhanced by the settlement of rears by foreign partners. This has been accompanied by adjustments to fuel prices, making exploration of oil and gas more attractive. This is evident in the announcement of plans by major companies to increase investments in the petroleum and gas sectors, despite falling global oil prices. You are all aware that the diversity that characterizes the Egyptian economy guarantees fulfilling the ambitions of all investors, whether small, medium, or large-sized, in different sectors, such as agriculture, industry, and services. From this perspective, I am pleased to extend an invitation to all partners seeking serious opportunities for investment to participate in the supporting and developing the Egyptian economy, the Future of Egypt Conference, scheduled to be held from the 13th to the 15th of March in Sharm al-Sheikh. The conference will provide an opportunity for investors to get acquainted with the different projects available in Egypt and the benefits of investing in Egypt. The conference will provide opportunities for Egypt to benefit from expertise and technology available to its partners so as to modernize sectors such as spinning and weaving, engineering industries, and construction and building materials. Ladies and gentlemen, Egypt reiterates its commitment to open up to the world and to contribute to finding solutions to the shared challenges we all face. Egypt is also committed to implementing its contractual obligations and treaties to which it is party. We will continue to pursue fruitful cooperation and expansion of economic ties with all international partners. This commitment emanates from a true realization that no country can achieve its national goals in isolation from the world. On the other hand, the international community also has a responsibility to create a conducive environment that enables all parties to benefit from integration into the world economy. There is no doubt that sustainable development represents an issue of paramount importance in today's world, especially as we evaluate the achievements of the Millennium Development Goals and set new goals for development post-2015. We are also laying new foundations to face the challenges posed by climate change. This requires that we address the international framework for development in which we operate. Although globalization has achieved numerous benefits, it has also produced many challenges due to its impact on a large percentage of the world population who do not enjoy any social protection, especially in Africa. In addition to that, there is the substantial and increasing gap between developing countries, particularly when it comes to rising poverty rates and the technological gap as well as rising unemployment in developing countries. The New Egypt is fully aware that it needs to open up to the world to achieve the ambitions of its people. It also acknowledges the needs of its immediate Arab and African neighbors, as well as the international community, and Egypt will contribute towards achieving stability and dealing with the challenges that we all face. Egypt's role has consistently been a positive one based on solid principles enshrined in the Charter of the United Nations and International Law and Legitimacy. Egypt will continue to seek an end to the Israeli-Palestinian conflict on the basis of a two-state solution that guarantees that the Palestinian people will achieve their legitimate rights, including the establishment of an independent state with East Jerusalem as its capital. That is the only way that all the people in the region, including the people of Israel, will live together with peace and security. We will also continue to strive to protect the peoples of Syria, Libya, Iraq, and Yemen from the destruction they face and prevent the continuing loss of innocent life by advocating political solutions that guarantee the security and territorial integrity of these countries and respect the will of their people. These countries comprise an indispensable component of the Arab national security, which constitutes an important element in the achievement of world peace and stability. We will also continue to strongly uphold the causes of the African continent and aspire to launch its development potential, recognizing our common identity and destiny. Ladies and gentlemen, these are the characteristics of the path that Egypt has embarked upon through relentless efforts and enlightened vision. We are driven by a strong will, an honest desire, and true belief in our country to play a historical role in our region and the world. We recognize the need for greater international cooperation to meet the growing challenges of our time in a shrinking world due to the inevitable closeness because of knowledge and science. We will continue on that path to overcome all the challenges and difficulties that we face and to strengthen confidence in our economy and in the policies we are undertaking to achieve comprehensive and sustainable productivity in a way that will allow for substantial development gains that meet the aspirations of the Egyptian people and their inalienable right to a decent life. I fully believe that the bridges of trust that we will establish together will contribute to the achievement of our aspirations for a better present and a more prosperous and brighter future for Egypt and for us all. Thank you very much. Mr. President, thank you very much for this impressive speech. And you mentioned the younger generation in Egypt as well. And we all know that you have a younger generation, the youth, and they played such an important role in the past. The trust question is, given that the World Economic Forum is very much engaged in the youth with the global shapers community and with our YGLs, so young global leaders, what is your message from today to your youth, to the younger generation in Egypt in order to give them hope into new Egypt? The youth of Egypt are the hope of Egypt. The young people of Egypt are the hope of Egypt. And allow me to say that two-thirds of the people of Egypt are young. More than 60% of the Egyptian people are younger than 40. And we must all keep in mind that those who lit the flame of the Revolution on the 25th of January were the young. At the political level, at the economic level and on the social level, we want to give as much opportunity as possible to the segment of the population and we encourage political movements and political parties in Egypt to include them. And at the level of the presidency, all of the councils we have created are comprised to the level of 50% of young people. In a very short period of time, we are trying to prepare our youth so that they will be able to hold various positions in government so that they can build the Egypt of the future in which they will play such an important role. On the economic level, I would like to say to the world through you today that we need your investments and we welcome you to Egypt to work there because our goal is to create jobs for young people. Because we must recognize that there are millions of unemployed people in Egypt. And we will not be able to overcome our challenges and difficulties if we do not create real jobs for our young. And I would like to say once again that we have taken a number of economic measures which will provide incentives and which are very promising to investors whether they be Egyptian or foreign and we hope that they will come to invest in Egypt. In addition to these economic measures, we are deploying great efforts to train and prepare our youth so that they will be able to have the necessary capabilities to hold jobs and that their skills will be adapted to the job market within Egypt and outside. I would like to say to the young people of Egypt that we as a government and as a state are extremely interested in you and we want to provide you with all of the necessary means and opportunities to succeed. During the past few years, young people were marginalized and that will not be the case in the coming phase. Thank you very much. Thank you, Mr. President. Professor Schwab mentioned in his introduction, he remarked the speech at Al-Hazal University in Cairo and in particular, you mentioned a revolution in religion. Please, Mr. President, in order to fight against violent extremism, can you elaborate what does it mean? I should like to say the following. Islam is a tolerant religion but this wasn't always clear to the rest of the world during the last 20 or 30 years. The terrible terrorist attacks which we have seen and this terrible image of Muslims is what led us to think that we must stop and think and change the religious discourse and remove from it things that have led to violence and extremism. The leaders of Al-Azhar and religious leaders who are interested in the image of Islam in the rest of the world were very interested in the speech I gave at Al-Azhar University because they're interested in the religious discourse and in modifying it to adapt it to the present. There can be no religious discourse which is in conflict, which is environment and with the world and therefore we Muslims need to modify this religious discourse and this has nothing to do with conviction and with religious beliefs because those are immutable but we're talking about the discourse. We need a new discourse that will be adapted to a new world and which will remove some of the misconceptions and there are things that we must all take into account in our dealings with one another because no one can monopolize the truth. No one should believe that he or she has the truth with the capital T and no one should believe that his or her convictions or ideas are better than anyone else's and this applies not only to the Muslims, it applies to everyone throughout the world and I think that the whole world should stop to think and take stock and think about certain things which could provoke other people or hurt their feelings. We should think about all of this and if we want to create a civilized humane environment than when we must respect each other's cultures and beliefs. Thank you very much for this content, for this answer. Mr. President, you will have again this year in Egypt elections. Palantirian elections very likely in March. So my question is how will you use these democratic momentum in Egypt in order to strengthen the social inclusion and as well the societal cohesion? The various forces in Egypt put in place a roadmap. We began with the constitution which was put in place successfully then we held successful presidential elections and the only thing left to do is to hold parliamentary elections because parliament has a very important role to play in terms of oversight and legislation in the context of the new constitution. We announced that elections will be held in March and we are extremely serious in our efforts to create a democratic system in Egypt in which everyone can participate. We talked about the economic environment and investors who come to Egypt must be aware that they are in a complete created state. Mr. President, given the time my last question, under your leadership Egypt played an important role in facilitating the ceasefire in Gaza. It was for the global community very encouraging. So my question is will you go ahead with these important and crucial role for the world and hopefully yes and if yes what kind of role are you planning for the near future? Egypt has always played a central role and it was the first country which took serious steps to achieve peace in the Middle East with Israel. I would like to elaborate on this a bit. We must always start with a vision because then the reality emanates from the vision. Before the peace agreement was signed with Israel no one would have imagined that peace with Israel would take the form that it has. I would like to take the opportunity of us being here together today to say the following to the world. If we are able to reach peace between Israel and Palestine if we all encourage that happening we will create a new reality in the region. And if we can do that that will go beyond innovation. What I am saying to you is true. No one could have imagined what President Sadat was thinking when he presented his vision for peace. The years have gone by and time has proven that his ideas were visionary and correct. I will talk about the role of Egypt. We not only played a role in achieving a ceasefire between Israel and Gaza before that we had made efforts so that we would not have to reach a time when we would have to work towards a ceasefire. We had hoped that that would not happen. Egypt will continue to play its role and it will spare no effort in encouraging all parties to reach real peace and to establish a Palestinian state on the land which was occupied in 1967 with its capital, East Jerusalem. We welcome all ideas which will encourage the Palestinians and the Israelis to reach peace. And like I said if we were to reach peace we will create a new reality that cannot yet be imagined in the Middle East and that will lead to more stability. A degree of stability that we cannot even imagine now. And that will hamper the efforts of terrorists and extremists in the region. Thank you. Mr. President, I think the reaction indicates that the Davos community as well as the global community counts on Egypt and counts on your leadership. So again, thank you very much for all your contributions. Thank you very much for all your insights because you know the annual meeting is a great opportunity to get some content but as well to learn about personalities. Who is the leader who leads such an important country like Egypt? So thank you very much for this insight as well and I wish you good luck for your country and for all your people. I would like to say that the real leader is the people of Egypt. Please allow me to take advantage of my presence here to ask you to salute the great people of Egypt.