Egypt’s total public investments rise 12% in H1-FY2019

Egypt’s total public investments rose 12 percent to 175 billion Egyptian pounds ($9 billion)  during the first half of financial year 2018/2019 from the same period last year, Planning Minister Hala al-Saeed said Sunday.

The minister was addressing the CI Capital’s 3rd Middle East and North Africa Region (MENA) Investor Conference, inaugurated by Prime Minister Moustafa Madbouly.

She added that the government has developed a comprehensive plan aimed at achieving comprehensive development and spurring the economy.

Egypt Vision 2030 was launched to offer a general framework governing plans and phased work programs in the coming years, the minister said.

The economic reform programme, launched in 2016, also aimed at creating a business climate able to restore investor confidence and lure investments, which are necessary to achieve a comprehensive and sustainable growth led by the private sector as a key partner for the government in achieving development, she added.

“Comprehensive plans for achieving structural reform in seven promising sectors have been developed,” al-Saeed said.

She added that the government is also keen to create the necessary infrastructure, topped by road networks and power plants, to attract investors and achieve comprehensive and sustainable development.

Source: MENA