CAIRO – 12 February 2024: Prime Minister Mostafa Madbouli said on Monday that Egypt seeks to support economic sectors that drive growth, especially in the areas of infrastructure, to help attract more foreign and local investments.
He noted during his speech at the World Governments Summit (WGS 2024), which kicked off in Dubai and expected to continue until Wednesday, that these efforts have resulted in Egypt’s progress in many international indicators.
He added that “The state sought to increase the agricultural area in Egypt by more than 4 million acres, and these projects contributed to increasing the cultivated area to about 10 million acres and the cropped area to 17.5 million acres.”
He affirmed that the Egyptian agricultural exports will make a new record reaching $9 billion this year.
The Prime Minister said that the government seeks to enhance local manufacturing and raise the efficiency of the industrial sector and increase it to 20% of the gross domestic product during the year 2030 by continuing many projects to encourage industrial investment, facilitate the granting of industrial lands, and begin the localization of 152 industrial opportunities.”
Madbouly said that the government worked, in the context of looking to the future, to formulate priorities and strategic directions during the period from 2024 to 2030, through which it aims to achieve strong, comprehensive and sustainable economic growth, with a focus on the quality of economic growth by enhancing the contribution of investments and exports.
He added that the Egyptian strategy is focusing on a pace of economic growth that supports employment to provide between 7-8 million job opportunities.
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