National projects create 745k jobs: Minister

CAIRO – 27 November 2017: New national projects in Egypt created more than 745,000 job opportunities, Minister of Planning Hala el-Said announced Monday.

In a corporate social responsibility conference in Alexandria, Said noted that the government is focusing on services and community projects, “for that reason, a number of 13 industrial complexes were opened in different governorates,” she said.

"National projects occupied 25 percent of the investment projects in the first quarter (Q1) of the current fiscal year, followed by the construction sector at 17 percent, transport sector at 10 percent and the manufacturing sector at 7.7 percent," Said pointed out last week.

The volume of public investment soared 138 percent in Q1 to reach LE 71.9 billion ($4,050,501,129.80), compared to LE 30.2 billion in Q1 of FY 2016/17, representing 48 percent of the total investments completed in that quarter.

Private sector investments went up 15 percent to register LE 78.1 billion, compared to LE 67.81 billion in the same quarter in the previous fiscal year.

The total investment rate in Q1 went up 13.3 percent to reach LE 155 billion, compared to LE 101 billion in Q1 of the previous year.