Private Sector
Public investments for the upcoming fiscal year are capped at LE 1 trillion to bolster private sector involvement, aiming to raise private investment to 50 percent of total investments, up from 40 percent this year
The Prime Minister commended major international companies that have established factories of the highest standards within a remarkably short period.
President El-Sisi pointed out the state's keenness to achieve strong, sustainable, and balanced economic growth, strengthen the role of the private sector, focus on the sectors of agriculture, industry, communications, information technology and tourism, and increase their contributions to the domestic product
This comes with the aim to enhance private sector participation in development efforts, aligning with the state's policy document.
Counselor Mohamed Al-Homsani, spokesman for the Egyptian cabinet, said that the Egyptian state decided to choose an international consultant in the coming period to study and develop a vision and plan to offer management and operations of airports to the private sector.
Prime Minister Mostafa stressed the importance of operating cultural palaces to enhance their role in nurturing the creative potential of children and young people.
The private sector will be able to sell electrical power before the end of 2023, Minister of Electricity Mohamed Shaker said Tuesday.
Al-Mashat elaborated that the funds come in the form of investments, contributions, lines of credit or development financing, for companies of all kinds, large, medium and small, and startups.
This came during Al-Mashat’s speech within the activities of the second annual conference of the Chamber of Food Industries, under the title "Sustainability and Increasing Investment in the Food Industries".
Increasing the private sector’s participation is a state priority, the Sovereign Fund of Egypt (TSFE) head was reported by local media as saying
The Egyptian state must support private investment when it faces slowdown while preventing monopoly and ensuring competitive neutrality, National Dialogue assistant rapporteur Mahmoud Sami said Monday.
Maait attributed this to the interest rate hikes in Egypt and global markets, and reassured about the performance of the Egyptian economy in light of the current global crises.
Egypt’s Manpower Minister Hassan Shehata announced that next Thursday, 4 May, will be a paid day off for the private sector employees on the occasion of Labor Day.
Manpower Minister Hassan Shehata announced Tuesday that next Monday will be considered a paid day off for private sector employees and civil servants, alike, on the occasion of Sham El-Nessim.
The framework of international cooperation and development financing for Egypt is built on years of collected experience, Mashat said.
The IFC has a growing investment portfolio amounting to about $1.5 billion in investment projects in Egypt, in addition to $32 million in advisory programs.
The round table is part of the president’s first visit to Egypt, in light of the distinguished relations between the two countries, and the mutual high-level visits in order to advance relations on all levels, as well given the previous visit of President of the Arab Republic of Egypt, President Abdel Fattah El-Sisi to Uzbekistan, which witnessed the signing of several documents of joint cooperation.
In addition to Al-Mashat, the panel included Kevin Kariuki, Vice-President of Power, Energy, Climate and Green Growth, African Development Bank Group (AfDB), Aaron Leopold, CEO of EnerGrow, Esther Penunia, Secretary-General, Asian Farmers’ Association, moderated by Kitty van der Heijden, Director-General for International Cooperation, Ministry of Foreign Affairs, Kingdom of the Netherland.
“My office is ready to take any ideas or complaints about challenges the private sector is experiencing to help to overcome all obstacles hampering business activities,” he added at a news conference following his inspection tour of projects in the 6th of October City.
The Minister pointed out the importance of expanding the scope of cooperation between the IFC and private sector companies in Egypt through credit lines to banks to promote the development of small, medium and micro enterprises (SMEs), in addition to the availability of green bonds, to increase investments in various fields.
