CAIRO, Mar 15 (Aswat Masriya) - Egyptian president Abdel Fattah al-Sisi said in a speech on Sunday, that Egypt needs no less than $200-300 billion "in order to be built" and "so that there is real hope" for the Egyptian people.

The speech which was aired live on television was delivered at the last day of the Egypt Economic Development Conference, which started on Friday in the resort town of Sharm El Sheikh.

"We are behind, running is not enough," Sisi said.

He said this is why he is always in a hurry during talks with officials and companies.

Sisi called on investors to "squeeze" the costs of projects and reduce profit margins a little. "I need this from you now."

Sisi launched a call to turn this week’s gathering into an annual conference, not just for Egypt but for countries that are going through “difficult economic circumstances”.

He said the annual conference will be held around the same time next year in Sharm el-Sheikh.

At the beginning of the speech, Sisi said he cannot deliver the speech without calling on the youth who took part in organising the conference to be with him on stage. For about a minute, the youth who climbed the stage interrupted the speech by taking selfies with the president.

The president's speech comes on the last day of the major economic conference which kicked off from the resort city of Sharm el-Sheikh on Friday.

Egypt has long been rallying for the conference and hopes that it will bring investments needed to revamp its economy which has been battered by years of political instability.

Agreements and memoranda of understanding signed so far are valued at billions of dollars.