Egypt’s government reviews preparations for new private-sector incentive package

Egypt’s Prime Minister Moustafa Madbouly reviewed on Sunday government efforts to attract investments and preparations to launch a new package of incentives aimed at boosting private sector participation in key sectors.

Madbouly said recent economic reforms have produced positive indicators and stressed the government’s commitment to improving the investment climate, expanding private sector activity, and increasing production, exports, and job creation. He instructed ministries to finalise a new set of measures supporting Egypt’s development plans and national targets.

He noted that President Abdel Fattah El-Sisi directed the government to stimulate private sector involvement in priority sectors, including universal health insurance, Hayah Karima (Decent Life), renewable energy, industry, tourism, ICT, and agriculture. Madbouly said incentives will support the tourism target of 30 million visitors and plans to raise renewable energy to 42 per cent.

The prime minister emphasised boosting exports in promising sectors such as pharmaceuticals and expanding universal health insurance across more governorates. He highlighted positive economic performance and called for continued debt-reduction efforts and quality-of-life improvements.

Madbouly urged wider application of the Investment Law and activation of existing incentive packages, alongside ongoing structural reforms. He also pointed to opportunities in the petroleum sector and new cities, encouraging greater private sector participation.

Ministers confirmed that new incentive packages will soon be announced to attract both local and foreign investments.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser