Kandil Says Egypt’s Govt To Offer EGP20 bln Investments in 2013

Egypt’s Premier Dr Hesham Kandil said the current government is planning for offering 8-10 investment ventures in the framework of the partnership between the public and private sectors during 2013, at investment cost outstrips EGP 20 billion, in addition to establishing Abu Rawash sanitation station at EGP 5.5 billion costs and the venture of developing Safaga Port at EGP 6 billion investments.

Kandil confirmed that these ventures contribute to growing the desert hinterlands in this area to improve    and create 12.000 direct job opportunities along with the indirect ones; elaborating that the government’s plan during the fiscal year 2014-2015 takes in offering a number of PPP ventures with the private sector. +

On the sidelines of the Second Investment Conference on investment in public-private partnerships, Kandil stated that the Ministry of Finance made during the last period feasibility studies for a number of whopping investment projects in cooperation with the European Bank for Reconstruction and Development (EBRD), the Islamic Development Bank (IDB) and other international financial institutions. He affirmed that Egypt is one of the leading countries in the PPP field on the level of Middle East and Africa since issuing the law 67/2010 for the legal framework for partnership.

The government is working on launching an initiative to cooperate with the academic authorities in Egypt as well as the universities to teach the system of partnership with the private sector as a part of the curriculum in order to create a new kind of job opportunity that demanded in Egypt and the Arab countries.

Kandil has affirmed that the government has the complete control on these projects through the Supreme Committee for PPP Affairs, led by Egypt’s Premier. The committee’s role is to study the presented projects and approve them. He referred that these projects don’t bear the state any extra burdens on the budget.