Egypt’s Minister of Planning and Economic Development, Hala El-Said - Press photo
CAIRO - 2 June 2022: Egypt spent LE 6 trillion in infrastructure investments during the past six years, according to Minister of Planning and Economic development Hala El-Said.
El-Said emphasized Thursday the importance of cooperation and making way for the private sector.
This came in a speech by El-Said on the sidelines of the annual meetings of the Islamic Development Bank Group (IsDB) held in Sharm El-Sheikh.
El-Said said that the aim of the forum is to support all development efforts of the private sector in the member states of the Islamic Development Bank Group, explaining that the repercussions of the Corona virus and the Russian-Ukrainian war necessitate all of us to cooperate and make more room for the private sector to participate in development efforts as a key partner in these efforts.
She reviewed Egypt's efforts to involve the private sector, pointing to the economic reform program that began in 2016 and included financial and monetary reforms while preparing the infrastructure for more investments, as Egypt has spent LE 6 trillion in this structure during the past six years.
The minister stressed that Egypt aims from the beginning to make its economy more capable of facing shocks.
El-Said also reviewed Egypt's sovereign fund and its role, pointing also to the state ownership document and the issue of the state's exit from some sectors, to make room for the private sector.