Hala El Said
These companies specialize in diverse sectors, including technology, environmental solutions, water, infrastructure, airports, and finance.
The newly formed company will be responsible for overseeing three government-owned buildings in Cairo, one of which is associated with a private university located in the downtown area.
She emphasized Egypt’s advantageous geographical location and its ambition to become a prominent hub for trade, logistics, and smart logistics services, with investments over LE 10 trillion in infrastructure to support this goal.
El Said noted that the plan targets a real economic growth rate of 4.2 percent in 2024/2025, compared to the expected low rate of 2.9 percent in the current fiscal year 2023/2024
El Said, speaking at the Joint annual meeting of the Arab financial institutions in Cairo, mentioned that the government is presently engaged in evaluating offers and intends to make a selection soon
Discussions for the new subfund include investors in the food, engineering, and building materials industries, as well as industries related to the manufacturing of railway and train supplies
Egypt is currently targeting a growth rate of between 4 and 4.2 percent for FY2024/2025, she added and expects a slowdown to 2.9 percent for the current fiscal year with growth impacted by geopolitical tensions
This fund would serve Egypt’s investments, and El-Said emphasized its importance in promoting private-sector partnerships to stimulate investments.
This decision follows a suggestion from the World Bank and supports the government's plan outlined in its state ownership policy document
During this tour, the Sovereign Fund plans to organize scheduled meetings with the sovereign funds in the Gulf region, financial institutions, and potential investors.
With a diverse range of 395 projects, IsDB's investment portfolio in Egypt covers vital areas such as electricity, infrastructure, and transport
Egypt is actively overseeing the implementation of 80 port projects, with a total investment of LE 129 billion, in collaboration with 100 private sector companies.
In addition, the country aims to achieve a total of LE 2 trillion in private-sector investments for FY2023/2024.
Public investments for the upcoming fiscal year are capped at LE 1 trillion to bolster private sector involvement, aiming to raise private investment to 50 percent of total investments, up from 40 percent this year
This revised target is significantly lower when compared to the program's previous achievements, which amassed around $5.6 billion between April 2022 and the conclusion of last year
Her participation in these meetings aims to address global challenges by exploring various financing solutions, fostering private-sector investments, and enhancing resilience against future disruptions.
This decision reflects Egypt’s commitment to safeguarding the interests of workers, particularly in light of recent internal and external economic developments, El-Said added.
The implementation of an enhanced accounting methodology has yielded valuable insights into the volume and sectorial distribution of private investment, aligning with the government's objective of creating a realistic investment map
El-Sisi pointed to the importance of ensuring that investments are channeled in a manner that maximizes benefits for the citizens
The sector's investments account for 5% of the total investments in the plan, with the private sector playing a crucial role in driving growth
