Minister of Local Development Hisham El-Sherif called upon businesspeople and investment banks who took part in the annual capital market summit to contribute to the development of 4,770 villages around Egypt.

He explained that the ministry aims to transform poor villages from being consumers into self-sufficient villages that are able to produce and export.

He pointed out that his role is to achieve economic development, which will require contributions of businesses and other ministries.

He added that Egypt is battling underdevelopment and is attempting to do all it can to achieve development. El-Sherif described himself as “the minister of the poor.”

He noted that the ministry has funding and lands, but needs ideas and cooperation from the business community.