Public-Private Partnership Necessary for speeding up Investments in Egypt

Hussein Sabbour – Chairman of Egyptian Businessmen’s Association – stressed on Sunday the importance of supporting the partnership between public and private sectors to carry out more development investment projects in Egypt.

In a speech at the opening session of “Government & Developer: A Partnership for Development” conference held Sunday, Sabbour also said it is necessary to benefit from the state of economic revival in Egypt by continuing the partnership between public and private sectors.

Furthermore, Sabbour, who is also the chairman of Al Ahly For Real Estate Development, pointed out that real estate investors still need the government’s provision of more lands to develop and establish projects on. There are around 93% of land spaces developable, yet unutilized yet, he added.

Sabbour has praised an initiative launched today during the conference to support the state partnership with real estate investors.

This is the most positive initiative for it gives the opportunity to speed up the implementation of new investment projects, which were announced after signing memorandums of understanding at March’s Economic Summit, Sabbour noted.

This initiative will contribute to improving Egypt’s economic atmosphere.

Moreover, EBA chairman demanded removing the bureaucratic aspects standing against investors specially licensing and registering new lands.