Egypt Takes Key Steps To Allure Local, Foreign Investors - PM
(MENAFN- Kuwait News Agency (KUNA)) SHARM EL-SHEIKH, Egypt, June 3 (KUNA) -- Egypt's Prime Minister Mustafa Madbouli said Friday his country took some important steps to encourage local and foreign investors of the private sector early this year to take part in the process of economic growth.
This came during a panel discussion on 'the private sector and investment opportunities in Egypt', on the sidelines of the 47th session of the annual meetings of the Islamic Development bank Group.
Madbuli welcomed investors in Egypt as a promising market during the next period, indicating that the ratio of the private sector's investment will hit 65 percent out of the total investment in the upcoming three years.
The State's vision aimed at the completion of infrastructure works and national projects in recent years to start a new phase in Egypt's economy and seeking to re-crystallize the role of the private sector to be the main partner of development projects, he pointed out.
He noted that Egypt signed six memoranda of understanding over the past two months with global alliances to produce green hydrogen and ammonia, within the framework of making Egypt a regional and global center for the production of this type of green energy.
Despite challenges, Egypt could post a 7.7-percet growth in nine months, with an expectation of reaching 6 percent as a total growth this year, he revealed.
Madbouli referred to many opportunities of producing wind and solar energy, calling on major coalitions to partake in this field. (end)
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