Govt Studies Restructuring Legislations, Economic Policies: Osama Saleh

The Egyptian government is to restructure all the legislations and economic policies to greatly make use of foreign partners, the European Union in particular, so as to the citizen witnesses the economic growth rates, said Osama Salah, Egyptian Minister of Investment.

In his keynote speech today at EU- Egypt Task Force Business and Tourism Summit, Saleh said Egypt seeks to achieve 7% growth rate in the coming five years. This would be enhanced by an investing agenda that based on two key pivots. The first one is expanding the projects between the public and private sectors. The second pivot is getting rid of obstacles that the invest face to achieve EGP 15 billion new investments.

As per the partnership projects, there are 3 main mighty projects provide 128 investing opportunities in Egyptian provinces in the fields of tourism, metallurgy and education. There are 70 projects for establishing schools with the partnership of the private sector at $ 60 million.

The Egyptian and foreign businessmen called for injecting more investments to support the national economy; especially the government in the coming period will start to develop Suez Canal pivot, opening Safaga-Suhag road to connect Read Sea to Upper Egypt.

Regarding Egypt’s relation with the EU, Osama Saleh said the EU is Egypt’s main partner for development, as its capital is $ 15 billion, and it injected $ 742 million after the Egyptian revolution.