Egypt seeks to introduce 6 public-private partnership projects within current FY

Cairo – October 15, 2024: Egypt is looking to establish six new public-private partnership (PPP) projects within the current fiscal year, with investments potentially exceeding LE 27 billion, revealed Minister of Finance Ahmed Kouchouk on Tuesday.

Investments through public-private partnership (PPP) contracts reached LE 19.8 billion in the previous fiscal year, he explained.

The investments spanned several key sectors, including solid waste management, dry ports, transformer stations, electricity distribution networks, vocational education, and strategic goods warehouses.

Plans are also underway to explore additional projects focused on constructing transformer stations, wastewater treatment facilities, vocational schools, warehouses, and wholesale markets, he added.

Kouchouk emphasized the competitive opportunities that the PPP framework provides for both local and foreign businesses, positioning it as an alternative to traditional public investments, stimulating the flow of private investments into the Egyptian economy.

The minister explained that the current economic climate, which includes a mandated ceiling on total public investments, creates significant opportunities for the private sector to engage in development projects aligned with national priorities.

This approach is integral to fostering an attractive business environment that increases the private sector's role in economic activities, contributing to comprehensive and sustainable development while enhancing the living standards of citizens, Kouchouk stated.

The PPP system, he stated, not only facilitates investment but also aligns with the objectives outlined in the state ownership policy document.

Atef Hanoura, head of the PPP unit at the Ministry of Finance, reiterated the commitment to expanding PPP projects to alleviate budget pressures amid geopolitical challenges.

He highlighted the success of existing PPP models across various sectors and the potential for further partnerships with investors in new areas.

Hanoura pointed out that Egypt serves as a reference point for PPP implementation in Africa and the Arab world.