Joint gov’t-private sector investments $15 billion: Prime Minister
Sherif Ismail - YOUM7 (Archive)

CAIRO: Joint investments of the government and the private sector amount to $15 billion, Minister of Finance Hany Demian said in a Monday conference on behalf of Prime Minister Sherif Ismail.

Ministers of investment, supply, planning, and housing attended the conference, which is the third of its kind.

The budget deficiency of 2015 has decreased, but there still is a long way for economic reforsm, Demian said, adding that the government has made “difficult, but necessary decisions.

Joint projects with the private sectors are underway, including desalination plants, digitalizing government agencies, developing Safaga Port at an investment of 3.8 billion EGP, stadiums, currency exchange offices, and other projects, Demian added.

Egypt ratified a unified investment law in March to facilitate investment procedures, and the Social Fund for Development is coordinating with all parties concerned to issue licenses for micro and small enterprises through one-stop shops.

The one-stop-shop system is expected to facilitate and speed up the procedures of obtaining licenses, which previously needed approvals from several government bodies in different locations, SFD head Soha Soliman told Youm7.

Recommend to friends

Leave a comment