Egypt Eyes EGP500 billion Private Investments within Two Years

Egypt is seeking to attract investments worth EGP 500 billion (around US$70 billion) from the Egyptian private sector in the coming two years, said planning minister Ashraf El-Araby.

The targeted investments are to support the government’s plans to achieve a growth rate of 7%, he noted.

The Egyptian minister further stated that the country is seeking by end of the current year to achieve investments at value of EGP 337 billion (US$47.1 billion), including EGP 206 billion from the private sector and EGP 131 billion from the public sector.

Achieving the planned investments (EGP 337 billion) by end of 2014, Egypt will register a growth rate of 3%, El-Araby explained.