CAIRO - 8 July 2024: In a presentation to the House of Representatives, Prime Minister Mostafa Madbouly unveiled the new government’s program, which outlines a comprehensive strategy to address crucial challenges and propel Egypt towards its Vision 2030 objectives.
Based on extensive national dialogue sessions, the program prioritizes key areas such as economic growth, inflation control, and elevating Egypt’s international standing.
The government’s primary objective is to achieve a 4.2 percent growth rate in the first year by attracting new investments and supporting economic progress.
A significant aspect of this strategy involves a 15 percent increase in export growth, aiming to position Egypt as a global hub for logistics and trade.
The program also emphasizes the restructuring of economic entities and the continuation of the IPO program.
Recognizing the urgent issue of rising prices and inflation, the new government has committed to giving top priority to reducing these challenges. Additionally, they aim to eliminate power outages within the initial six months of their program.
The government plans to construct 500,000 alternative housing units for unplanned areas, addressing housing needs and enhancing living conditions.
They also intend to bolster Egypt’s capabilities in the communications and information technology sector.
The government seeks to deepen specialized technological industries, with a specific focus on manufacturing mobile phones, smart tablets, and electric cars.
They will establish centers of excellence for international companies and support emerging businesses through incubation. Moreover, they envision positioning Egypt as a global center for green hydrogen production by 2030, demonstrating a strong commitment to sustainable development.
Maximizing international partnerships and strengthening Egypt’s global position are key objectives for the Cabinet. The government also places great importance on enhancing Egyptian-Arab relations and fostering regional cooperation.
The program places a strong emphasis on improving government performance through digital transformation across all sectors. It aims to increase the share of the agricultural, industrial, and technology sectors, promoting diversification and building economic resilience.
The Cabinet is fully committed to achieving Egypt’s water security by enhancing cooperation with countries in the Nile Basin and the Horn of Africa. This collaboration aims to ensure sustainable management of water resources.
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