Total public investments record LE175B in 2018/2019 H1: minister

CAIRO - 14 January 2018: Egypt's total public investments have registered LE 175 billion during the first half of 2018/2019 fiscal year, up 12 percent from the same period last year, Minister of Planning, Monitoring and Administrative Reform Hala el Saeed said Sunday.

The minister was addressing the CI Capital's 3rd Middle East and North Africa Region (MENA) Investor Conference, inaugurated by Prime Minister Mostafa Madbouli.

She added that the government has developed a comprehensive plan aimed at achieving comprehensive development and spurring the economy.

Egypt Vision 2030 was launched to offer a general framework governing plans and phased work programs in the coming years, the minister said.

The economic reform program, launched in 2016, also aimed at creating a business climate able to restore investor confidence and lure investments, which are necessary to achieve a comprehensive and sustainable growth led by the private sector as a key partner for the government in achieving development, she added.

Comprehensive plans for achieving structural reform in seven promising sectors have been developed, el Saeed said.

She added that the government is also keen to create the necessary infrastructure, topped by road networks and power plants, to attract investors and achieve comprehensive and sustainable development.