Egypt takes measures to improve business climate, says minister

CAIRO - 14 July 2020: Egypt has taken a number of measures to improve the business climate and regain investors’ confidence in the economy, the planning minister said Tuesday. 

A comprehensive plan is in place with the aim to achieve structural reform in seven promising sectors, atop of which health, Hala el Saeid said in a statement. 

The statement was released in light of Saeid’s participation in a team meeting on economic prosperity, which was held via video conference with the aim to review a proposed plan of action of 2020-2021. 

Indeed the outbreak of coronavirus has resulted in many challenges, but has also created many opportunities on the medium term, the minister acknowledged. 

One such opportunity is to entrench sustainable development goals, Saeid noted.

She also touched upon efforts to protect segments of society that face the biggest economic risk due to the pandemic, especially seasonal labor.

A working team has been formed to outline a long-term strategy to help on-and-off workers, the minister explained.

She made it clear that financial companies and businessmen are coordinating efforts with NGOs to guarantee aid reaches most-in-need brackets.

A unified database of harmed workers has also been established to avoid any repeated payments, the minister said. 

Saied added that her Ministry gives priority to SMEs, noting that the government has taken some financial and legislative measures with the aim to encourage this sector.