Egypt’s President Abdul Fattah al-Sisi hailed the efforts of his cabinet ministers in his closing address at Egypt’s investment conference.

In a speech delivered in colloquial Arabic, al-Sisi reaffirmed the role that the GCC states have played in the lead up to the conference.

“I would like to thank the late king Abdullah, who without this would have not been possible,” said Al-Sisi, in what turned out to be a sentimental speech on the final day of the donor event in Sharm el-Sheikh, Egypt.

He also praised the committed shown by international investors, especially power companies who committed to investing billions of dollars in the power sector, this includes a $6.3bn commitment from Germany.

Al-Sisi also called on investors to tighten their margins and deliver projects quicker. “I know Egypt’s problems, and Egypt needs these things to happen quicker,” he said.

He praised the efforts of his government, which he claimed brought down the costs of a number of power projects, and said the investment conference would become an annual event to continue to develop Egypt as an investment hub.

“Egypt needs more, it needs $200-300bn in order to fix the problems,” said Al-Sisi.

The three-day conference was regarded as a success by Egyptian media and, from Al-Sisi’s speech, it was clear that so did the government.