President Abdel Fattah El Sisi met on Friday with Founder and Executive Chairman of the World Economic Forum (WEF) Klaus Schwab.

The get-together was held on the sidelines of the World Economic Forum on the Middle East and North Africa in the Dead Sea city.

Sisi praised efforts exerted by the World Economic Forum to boost the economic situation in the Middle East and North Africa, Presidential spokesman Alaa Yousef said.

He added that the president expressed his keenness on organizing its own economic conference in Sharm el Sheikh on a yearly basis to tackle challenges facing Arab and African countries.

Sisi invited Schwab to attend the inauguration ceremony of the New Suez Canal project in August.

Schwab, for his part, said the Egypt Economic Development Conference (EEDC) was important to post the world on investment opportunities in Egypt.

He also thanked Sisi for his participation in the world economic forum, lauding steps taken by the Egyptian leadership at the economic and political levels.