CAIRO:President Abdel Fatah al Sisi said he directed the the newly elected government to support and develop the public sector institutions in order to move the economic growth process forward.
In his Thursday speech during a celebration marking Egypt’s Labor Day, Sisi said that the development will be achieved in cooperation with the country’s private sector. He noted that he instructed the government to fight corruption and control the price hike.
A Public Sector Affairs Ministry was introduced to the Egyptian cabinet in the recent government reshuffle.
Long Live Egypt Fund will allocate 100 million EGP ($11m) in aid for laborers, said Sisi.
The government launched initiatives for establishing industrial cities and allocated financial loans with low interest rate for youths’ enterprises, he added.
On Feb 24, Sisi called for building industrial entities of small and medium-sized enterprises (SMEs) for the youth, adding that the government has allocated 200 billion EGP to develop projects for youth.