Projects Worth USD 5 Billion Will Support Egypt’s Private Sector
These projects aim to improve the investment environment and enhance the competitiveness of the Egyptian economy.
In a bid to support the private sector and stimulate economic growth, the Egyptian government has unveiled plans to launch USD 5 billion worth of projects between October 2023 and June 2024. The government will implement a comprehensive package of 27 reform measures divided into three key areas: asset sales and IPOs, attracting private sector investments, and governance and transparency.
The government's objective is to increase citizens' participation in institutional ownership and provide opportunities for major investors through a one-year program. Additionally, reforms will be implemented to enhance governance, transparency and market regulation. Measures include publishing periodic reports on tenders and auctions, activating the Competition Authority's plan, preventing monopolistic practices, and ensuring coordination between relevant authorities.
These reform initiatives are aimed at improving the investment environment and enhancing the competitiveness of the Egyptian economy, as well as developing an executive plan to activate the intellectual property strategy.
A substantial number of reform measures, totaling approximately 171, have been implemented or are planned to support the private sector. Out of these, 144 measures have already been executed across six main areas, with a particular focus on encouraging the industrial sector and improving the investment and business environment.
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Nov 27, 2023