Investments
The Spokesman noted that the meeting discussed ways to foster closer bilateral relations at various levels, particularly at the economic level. The meeting also tackled increasing Emirati investments in several fields in Egypt, mainly in the sectors of energy, transport, ports and tourism.
The Egyptian investments in Saudi Arabia amount to $5 billion through more than 802 Egyptian companies.
The canal lining project is one of the projects with economic and environmental returns that the state is implementing within the projects of a decent life at the level of Egyptian villages.
"The government aims to attract $10 billion in foreign direct investments a year," he said, adding that the State Ownership Policy and the Golden License will empower the private sector to raise its contribution rate to 50 percent of the GDP within three years.
"The government aims to attract $10 billion in foreign direct investments a year," he said, adding that the State Ownership Policy and the Golden License will empower the private sector to raise its contribution rate to 50 percent of the GDP within three years.
El-said emphasized Wednesday the importance of cooperation and making way for the private sector.
He stressed that this will contribute to opening new horizons for development partnership with the private sector, which will help move the wheel of the economy and create more job opportunities.
This statement came during the statements of the Fund’s Executive Director Ayman Soliman in a meeting with the Prime Minister Mostafa Madbouli in the presence of the Planning Minister Hala El-Said and other officials.
The Egyptian government aims to increase the value of investments financed by the public treasury during the next fiscal year 2022/2023 by 9.6 percent, on an annual basis.
The implementation of a solar cell plant in Zafarana area to produce electricity with a capacity of 50 MW is underway, according to the New and Renewable Energy Authority.
This came as the ministry reviewed the investment citizen plan in Giza governorate of the fiscal year 2021-22 after launching the citizen plan for the third year in row.
The company said in a filing to the Egyptian Stock Exchange (EGX), Sunday, that these investments are aimed at expanding the company's operational operations.
Edita Food Industries - Morocco plans to increase its investments in Morocco by 170 million Moroccan dirhams (equivalent to $17.5 million).
Additionally, the report exhibited the extensive progress in the FinTech industry, starting with only 2 startups in 2014 to a total of 112 Egyptian FinTech and FinTech-enabled startups by 2021, with a strong uptrend of 55 times, and positioning Egypt among the top 4 active African countries in the FinTech Industry.
The company added in a statement, Thursday, that the Spanish Development Finance Corporation has signed a memorandum of understanding with the three parties with the intention of becoming a member of the Foundation for Sovereign Wealth Funds in Europe, the Middle East and North Africa (EMENA).
The premier added that President Sisi instructed the government to swiftly finalize the state ownership policy, which would enable the private sector to make investment decisions based on a better understanding of the state-owned enterprises’ weight in their respective sectors, the spokesman added.
Madbouli stated that the agreement on investment by the Saudi Public Investment Fund in the Arab Republic of Egypt regulates the fund's investment procedures in the state, within the framework of the two countries' desire to strengthen economic ties and ties between them.
Mahfouz made the remarks during his meeting on Thursday with a French delegation led by Regis Monfront, head of the French side in the Egyptian-French Business Council and member of the Movement of the Enterprises of France (MEDEF).
A number of ministers and senior officials were present at the event, in which nearly 50 Egyptian and French companies participate.
The delegation is now visiting Egypt to hold meetings with senior Egyptian officials to probe the future of joint economic cooperation between the two countries and the development of German investments in the Egyptian market as well as a number of files of mutual interest.
