Economic group reviews draft social insurance law, van initiative

CAIRO - 23 April 2019: Prime Minister Mostafa Madbouli on Monday chaired a meeting of the Economic Ministerial Committee.

Minister of Social Solidarity Ghada Wali, Minister of Investment and International Cooperation Sahar Nasr, Minister of Planning, Monitoring and Administrative Reform Hala Al-Saeed, Minister of Tourism Rania Al Mashat, Minister of Finance Mohamed Maait, Minister of Trade and Industry Amr Nassar, Minister of Public Hisham Tawfiq Business Sector, alongside deputy governors of the Central Bank of Egypt Gamal Negm and Lobna Hilal took part in the meeting.

Opening the meeting, Madbouli praised Egypt's fresh Moody's rating, which reflects the the great development witnessed by the country's economic situation, and will have positive effect on the Egyptian economy and increase confidence to attract more investments.

He tasked the investment, finance and industry ministers with forming a working group to be responsible for attracting major investors worldwide, and facilitating their entry into Egypt.

The meeting reviewed a comprehensive database prepared by the Ministry of Trade and Industry, gathering international companies targeted for pumping fresh investments in oil and energy, furniture, fertilizer and petrochemical, automobile tire, food, cement, agricultural production and textile industries.

During the meeting, the minister of social solidarity reviewed objectives of the new social insurance bill.

The meeting also discussed a fresh project aiming at replacing auto rickshaws (tuk-tuks) with vans, studies related to the project, its economic feasibility and the expected effects on the target groups, especially in view of the project's ability to provide a more dignified and civilized transport service to the citizens.