investment
Saeed made the remarks during a weekly meeting of the cabinet.
This came during Ma’it’s meeting with Hong Jin-wook, the new ambassador of South Korea in Cairo.
Minister of International Cooperation Dr. Rania Al-Mashat, and Minister of Electricity and Renewable Energy Dr. Mohamed Shaker, signed the Egyptian-Danish Energy Partnership Program (2019-2022) agreement with the Energy Agency of the Danish Ministry of Climate, Energy and Utilities, to unlock Egypt’s green transformation and invest in renewable energy.
The forum will tackle investment opportunities as well as means of promoting economic cooperation in the coming period.
The funds for the basic investment plan were distributed on the basic development axes by LE 55.5 million for electricity, and LE 87.2 million for roads.
The government plans to invest LE3.5 billion in FY2020/2021 in the construction works of the first phase of the fourth metro line.
The aim of such investment is creating job opportunities, and inhibiting economic slowdown amid the COVID-19 crisis.
He confirmed that the wise leadership of President Abdel Fattah El Sisi and economic reforms contributed to creating a suitable investment atmosphere.
The company's future strategies were shown to include pumping new investments in the Egyptian market exceeding LE 920 million in the coming five years with 14 new production lines covering the local demand and exporting purposes.
The project comes to support efforts and developmental programs implemented in Upper Egypt, Molla said.
Tourism sector’s Investment plan during 2020/2021 declined 28.8 percent, recording LE 5.2 billion, down from LE 7.3 billion in 2019/2020.
Investments in Middle East and North African startups jumped 35 percent during the first half of the year with companies in the United Arab Emirates raising the bulk of the funding.
Egypt's economic growth recorded an increase of 5.5% in 2019, the highest in a decade.
The company's activities are focused on the manufacture and export of crackers and soft drinks.
The meeting tackled the company's current and future investments in the Egyptian market.
The agreements are to be referred to the parliament for further discussions on required legal measures pertaining to bringing them into action.
This came in a report prepared by the Planning Ministry on the state’s approach to develop the health sector in the country amid the impact of the novel coronavirus crisis.
The infrastructure developed at the SCZone has indeed helped lure investments, but the matter requires more billions of pounds to complete the infrastructure, he said.
This came in a report published by the Ministry of Planning to give analysis on the development of some indices related to the economic and social performance during the third quarter of the current fiscal year 2019/2020.
Samsung will open a new production line to manufacture computer monitors in August. It also plans to pump investments worth $84 million in the coming five years.
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