58% targeted investments from private sector: Hala Al-Saeed

Ahmed Farahat
2 Min Read
Minister of Planning and Administrative Reform Hala Al-Saeed

Minister of Planning, Follow-up, and Administrative Reform Hala Al-Saeed said that her ministry aims to boost private sector contribution in investments to 58% of the total investment, worth EGP 980bn, during the coming fiscal year.

According to the minister, the value of private investments for fiscal year 2018/2019 will be about EGP 569bn, with public investments worth EGP 411bn.

She added that the contribution of the private sector to the public sector in the current financial year is 50% for each.

It is expected that the total value target by the end of June will reach EGP 756bn.

The government aims to provide an average of 800,000 job opportunities during the next fiscal year, and the new plan will be completed during the first week of March and will be sent to the parliament in early April for discussion and approval.

The unemployment rate fell from 12.4% to 11.3% in the second quarter of fiscal year 2017/2018.

Al-Saeed added that about 40% of the jobs and their availability came from the sectors of wholesale trade, followed by the transport and storage sector at 29%, as a result of the growth of marketing outlets, commercial centres, societies, and logistics areas, as well as growing internal trade and export movement.

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