Egypt's Health Min. offers gov't hospitals for investment to private sector

CAIRO - 15 September 2022: The Egyptian government had put forward a number of hospitals affiliated with the Ministry of Health for investment to the private sector, including the right to usufruct, manage, or develop, according to the spokesman for the Egyptian Ministry of Health, Hossam Abdel Ghaffar.

 

Abdel Ghaffar added that the hospitals offered to private sector companies for investment include, "The Coptic Hospital, Heliopolis, and Sheraton," according to Bloomberg Al-Sharq.

 

Egypt aims to accelerate the pace of growth by increasing the participation of the private sector in the economic sectors by exiting the state from some activities, and offering tax and customs incentives to attract foreign investments.

 

In May, Egypt’s Primer Mostafa Madbouli stated that the government would exit from certain sectors within the next 3 years with the aim to raise the participation of the private sector to 65 percent during these years.

 

Finance Minister Mohamed Maait commented later that the Egyptian government’s exit from some economic activities aims to empower the private sector and maximize its role in industrial and export activities to create one million productive jobs annually.

 

Maait added that it also aims to increase the proportion of its contributions from the total implemented investments to 65 percent, and attract foreign direct investments of $10 billion annually over the next four years.

 

“Especially as we have sustainable energy sources, developed infrastructure and young cadres, in a way that provides the basic ingredients needed to ensure economic stability,” he elaborated.