Egypt aims to boost private investments to 48% in FY2024/25

Updated 4/22/2024 8:20:00 AM
Egypt aims to boost private investments to 48% in FY2024/25

Arab Finance: Egypt is seeking to raise private investments to 36% of total investments in the current fiscal year (FY) and to 48% in FY 2024/2025, Minister of Planning and Economic Development Hala Elsaid announced on the sidelines of a seminar held by the London Stock Exchange Group (LSEG).

The minister noted that Egypt targets over EGP 2 trillion in total investments in FY 2023/2024.

Moreover, Elsaid stated that the government aims to achieve a 2.9% to 3% growth rate this FY and 4.2% in the coming FY.

During the seminar, she noted that Egypt will offer stakes in Al Amal Company for Plastic Pipes and Fittings within 2024, according to Asharq Business.

The government will also conclude the sale of a stake in the fuel retailer Wataniya within this year, the minister said in her interview with Asharq Business.

Additionally, the government is working on offering a stake in another company, which could be operating in the food industry sector, she added.

The minister also revealed in an interview with Al Arabiya Business that the private sector is expected to invest EGP 10 million to carry out projects in the government’s former headquarters in the Downtown area.

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