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Egyptian PM: Working to expand private sectors’ participation in economy

Egyptian PM: Working to expand private sectors’ participation in economy

Egypt’s Prime Minister Dr. Mostafa Madbouly confirmed on Sunday that his government is keen to expand the private sectors’ participation in economy.

The Egyptian Council of Ministers stated that this came during Madbouly’s meeting with International Finance Corporation’s (IFC) Regional Vice president for Africa Sergio Pimenta, Minister of International Cooperation Dr. Rania Al-Mashat, IFC’s Regional Director for North Africa Cheick Oumar Sylla, IFC’s Regional Director for Egypt, Yemen, and Djibouti Stephan Gimbert. Madbouly said that the consultations with the IFC confirmed the Keenness of the Egyptian government to increase the private sector’s contribution to 65 percent of the country’s total investments.

He expressed his aspiration to move faster towards specific and clear goals regarding cooperation between government representatives and IFC officials in civil aviation, communications and information technology sectors, specifically in the field of developing airports, constructing cables, communication
towers and data centers.

For his part, Pimenta praised the support that Egypt has recently received from international financial and development institutions through reaching many agreements, stressing that this reduces the economic pressure and gives greater confidence in the Egyptian economy.

Source: Kuwait News Agency