Egypt gov't directs public investments worth LE500B during 2018/21

CAIRO – 8 February 2021: Minister of Planning and Economic Development, Hala el-Saeed, affirmed her ministry’s keenness to direct public investments towards developing the infrastructure, especially the sectors of “transport, drinking water and sanitation, and electricity services,” due to its essential impact on improving the quality of life of citizens and attracting more local and foreign private investments.

In a statement delivered to the Egyptian Parliament, Monday, el-Saeed explained that public investments directed to these sectors during 2018-2021 amounted to about LE 500 billion, achieving a growth of 20 percent, compared to the previous three years, and constituting 32 percent of public investment.

She said that these investments resulted, during the years (2018-2019) and 2019-2020, the completion of the implementation of 416 projects in the electricity sector at a cost of LE 95.6 billion, and 689 projects in the housing sector at a cost of LE 72.6 billion, resulting in the rate of coverage of sanitation services reaching 96 Percent in cities and about 37.5 percent in villages.

El-Saeed added that about 145 projects were implemented in the transport sector at a cost of LE 33.2 billion, 37 projects in the petroleum sector at a cost of LE 431 billion, which resulted in achieving self-sufficiency in natural gas, and 458 projects in the water resources and irrigation sector at a cost of LE 5.6 billion, in addition to 20 projects in the agricultural sector, at a cost of LE 4.3 billion.

She emphasized that the ministry has attached utmost importance to directing the investment plan towards the government's work priorities to improve the quality of life of citizens and improve the level of services, by focusing on sectors that stimulate economic growth that provide decent and productive work opportunities, targeting the villages most in need, and addressing some important issues.

The minister said that public investments increased by 66 percent during 2018-2019-2021 compared to the previous three years, and that resulted in the implementation of many development initiatives, including the Decent Life initiative, survival boats, and in the field of health, the initiative to double the intensive care beds and first aid points, in addition to increasing the percentage of nurseries.

She also mentioned other development initiatives and projects, including the National Project for Lining and Rehabilitation of Canals, which is considered one of the labor-intensive projects with a positive economic, social and environmental impact.

El-Saeed noted the improvement of Egypt's competitiveness globally in many indicators, as the infrastructure quality index improved by 48 centers, as Egypt ranked 52nd in the world in 2019 compared to the 100 position in 2014-2015, and in the road quality index with 90 centers, Egypt ranked 28 globally, and in the electricity quality index by 44, ranking 77th in the world.

She emphasized the ministry’s consideration of directing public investments towards sectors that support human development and human development, especially in the sectors of "health and education."

It indicated that public investments directed to these sectors during 2018-2021 amounted to about LE 150 billion, achieving a growth of 170 percent compared to the previous three years, and constituting 10 percent of public investments.

She said that, during the years 2018-2019 and 2019-2020, these investments resulted in the implementation of 1,650 projects in the pre-university education sector; the creation, development and expansion of more than 26.5 thousand classrooms in all educational levels, the provision of education services in many of the villages most in need, and reducing the average classroom density to 50 percent in some governorates.

She pointed to the start of studies in 4 private universities, targeting to increase their number to 15 private universities, and establishing 9 new technological universities whose outputs are related to the labor market to reach a coverage rate of up to 33 percent at the level of the governorates of the Republic, in addition to establishing and developing 120 hospitals and health units, with targeting Increasing the number of hospital child care beds by 87 percent, and increasing the number of intensive care beds by 77 percent.