Egypt govt aims for 65% private sector participation – PM

The private sector’s contribution to Egypt’s economic activity has surged from 27 per cent in 2022/2023 to 37 per cent in 2023/2024, Prime Minister Moustafa Madbouly told a press conference on Thursday.

This significant increase demonstrates the government’s accelerated efforts to empower the private sector and encourage its participation in the economy, Madbouly noted.

He stated that the government is actively working to increase the private sector’s participation in the economy to nearly 50 per cent by the end of this year.

Moreover, Madbouly said the government aims to further boost private sector involvement, with a target of reaching over 65 per cent of total investments.

To achieve this goal, the government has implemented various measures to support and encourage the private sector. These include streamlining regulations, providing incentives, and creating a more conducive business environment.

He further emphasised that the substantial growth in private sector participation clearly refutes any rumours questioning the government’s commitment to fostering a thriving private sector.

Attribution: The Egyptian Cabinet