Consultant to the Prime Minister for Economic Affairs Gihane Saleh stated Wednesday in a phone-in that the government targets to attract LE40-billion worth of investments over four years.
The approval comes as part of numerous decisions taken by the Cabinet during its meeting on Wednesday.
Egypt’s Prime Minister Mostafa Madbouli followed up, Wednesday with the recent updates of the presidential initiative ‘Haya Karima’ [Decent Life] for rural development.
At the onset of a Cabinet meeting Wednesday, the prime minister said the project that President Abdel Fattah El Sisi inaugurated Saturday on Cairo-Dabaa road would help in reducing exports, thus save foreign currency.
The media center said in a statement Friday that it has contacted the Ministry of Finance, which totally dismissed such reports.
During a meeting for the Cabinet in the New Administrative Capital, Madbouli said the wheat supply system is operating with high efficiency.
A comprehensive plan has been outlined with the aim to achieve development on the peninsula, the report said, pointing to huge national projects in the different fields.
The report said the Egyptian state took important measures to increase wages and pensions, adding that some important sectors such as gas and the Suez Canal contributed to the increase of growth.
Prime Minister Mostafa Madbouli met Wednesday with large cement and steel manufacturers at the Cabinet's headquarters to discuss the hike in prices.
Madbouli followed up on the ministries’ efforts to prepare for the conference, scheduled to be held next November in the Red Sea resort city of Sharm El-Sheikh.
The four-year deal is self-funded through the Educational Ministry's Fund for Establishing, Management and Development of Educational Projects to avoid putting any financial burdens on the state's treasury.
Addressing the meeting, Maait said the move aims to diversify funding sources, reduce debt servicing costs, lure new segments of foreign investors to the Egyptian market as well as tap new international bond markets.
Egypt's agricultural area has increased by 9 percent to reach 9.7 million feddans in 2021 up from 8.9 feddans in 2014, the Ministry made it clear.
He also highlighted the role of Decent Life (Haya Karima) initiative in support of social development programs.
The Cabinet agreed to increase pensions and apply an 8-percent salary increase for public servants governed by the Civil Service Law as of the next month.
This came during Madbouli's meeting Monday night with a delegation from members of the Governance Council of the Arab Africa Trade Bridges (AATB) Program.
The ministry said vessels and container ships are crossing the Suez Canal regularly with normal rate.
Drugs sales in Egypt will increase by 6.6 percent in 2022 and 8.6 in 2026 to hit EGP82.3 billion and 112.6 billion in the relevant periods of time respectively, the foundation added.
In a press release on Sunday, the center said that it communicated with the Ministry of Electricity which denied the news.
Earlier, the Egyptian Finance Minister, Mohamed Maait, confirmed that Egypt is preparing to issue the first sovereign sukuk offering during the second half of the current fiscal year.