Fitch Ratings: Egypt has great balance between local, foreign contractors

CAIRO - 13 November 2022: Fitch Ratings' report said that Egypt has realized great balance between local and foreign contractors in the Middle East and North Africa region.

 

The Fitch report stressed that there is strong competitiveness in Egypt between local and foreign companies in infrastructure projects which are implemented under public and private partnerships, according to an analysis by the cabinet information center.

 

The Fitch agency found out that foreign energy and equipment companies have a greater chance to invest in Egypt in the renewable energy plans.

 

The agency expounded that the Egyptian state will work on boosting renewables output in view of increasing electricity demand.