The Egyptian market base makes it the largest regional economy in terms of domestic demand volume, according to Prime Minister Ibrahim Mehleb.
Speaking at the Economic Summit in Sharm El-Sheikh Saturday, Mehleb added that Egypt provides vast manpower and a labour force with scientific and innovative abilities to achieve enormous economic booms. In addition, Egypt is positioned to become a major global hub in providing transport and logistics services.
(Photo by Ahmed Al-Malky)
Mehleb highlighted the government’s achievements in the past few months, to enhance and improve the investment climate and opportunities in Egypt.
Mehleb confirmed Egypt’s commitment to its political road map, which was represented in the constitutional referendum, the presidential election, and the upcoming parliamentary elections.
He noted that the government seeks to provide a vast space to the private sector, for it can play a key role in pushing forward the production wheel. This will come in accordance with international standards on competitiveness, quality and diversity.
“Work on creating a distinctive investment climate allows free entrance and exit in the Egyptian market safely, and provide trained and qualified labour to help build a modern national economy,” said Mehleb.
Furthermore, Mehleb noted that needed legislative and administrative reforms were conducted to achieve a balance between financial control and the overall growth on one hand and to achieve social justice on the other hand.
Legislative reforms are meant to enhance the values of transparency and accountability, Mehleb added.
“Egypt pushes the investment strategy through massive projects such as the Suez Canal Axis, the Golden Triangle project, the northwest coast development project, the global logistics centre project, the establishment of 22 new industrial cities, the creation of 3,400km of highways and major axes and the new capital of Egypt,” added Mehleb.”The Suez Canal Axis facilitates trade movement between countries, and carries huge investment opportunities.”
Mehleb noted the government attaches particular importance to the process of development of human capital, especially amongst youth, through the project “Training for Employment”. The project will lead to the provision of skilled manpower that fit with the changing requirements of the labour market.
Mehleb stressed that the government announced two programmes to support the marginalised, poverty-stricken families and disabled people, besides developing slums and villages most in need.
He said the government has worked on the expansion and the launch of small-sized enterprises, and will launch “Mashrouaak” (Your Project) next week.
The project will be managed in each governorate and will be supervised by the Ministry of Local Development.
