PM clarifies government's role in expanding private sector investments


Sat, 23 Nov 2019 - 10:47 GMT

Minister of Housing, Utilities and Urban Communities Dr. Mustafa Madbouli

Minister of Housing, Utilities and Urban Communities Dr. Mustafa Madbouli

CAIRO - 23 November 2019: On the second day of Africa 2019, Prime Minister Mostafa Madbouly underlined the efforts deployed by the Egyptian state to overcome political crises and pave the way for development endeavors and a bigger role by the private sector in the economy.

Madbouly highlighted that Egypt is on the right track as huge governmental investments have been pumped into infrastructure in partnership with the private sector over the past years. Those were channeled to energy, water, oil and gas projects.

The prime minister pointed out that a few years ago the government faced many challenges because of political instability. Madbouly added that legislative reforms along with the government's planning encouraged the private sector to expand investments in the country, which has given rise to remarkable results. "The private sector would not invest in the new capital without the participation of the government in planning the infrastructure. We were certain that the private sector would take part," the prime minister said.

Africa 2019 is held on November 22-23 in Egypt’s New Administrative Capital and is attendee by African heads of states, ministers, and 2,000 investors and development partners.



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