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Egyptian government discusses investment plans for FY 2021/22 - Daily News Egypt

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Egyptian government discusses investment plans for FY 2021/22

Egypt increases public investments by 38% in FY 2020/21: Hala El-Said

Egypt’s Minister of Planning and Economic Development Hala El-Said, and Minister of Local Development Mahmoud Shaarawy, have met with 27 governors to discuss the investment plans and proposed projects for fiscal year (FY) 2021/22.

The discussions took place during four video conference meetings, which lasted for over six hours, with the participation of a number of leaders from the two ministries. They looked into proposals for investment projects.

El-Said said that the investment plans of the current FY witnessed a 38% increase in public investments. 

This takes into account the fair distribution between regions and governorates, to reduce development gaps between governorates. It also aims to maintain consistent allocations, with the aim of making the largest possible impact on the lives of Egyptian citizens.

El-Said emphasised that one of the most prominent principles governing the plan is also to give projects with an environmental dimension a special importance. This comes in line with Egypt’s Vision 2030, the state’s approach to the green economy, and projects that respond to gender issues. 

Also part of the FY 2021/22 plan are projects which will be implemented in line with the presidential “A Decent Life” initiative in 51 towns, at a cost of over EGP 150bn.

El-Said noted that priority has been given to projects with an implementation rate of 70% or more. This aims to maximise the return from the investments that have been pumped into the projects, especially in the field of health, in addition to projects that directly serve citizens.

For his part, Shaarawy stressed that the government seeks to ensure that citizens in the various governorates of Egypt feel the results and fruits of the projects that will be implemented.

He pointed out that the Egyptian Government has taken all possible efforts to improve the level of services provided to citizens in various vital and service sectors and areas.

Shaarawy also highlighted the need to maximise the benefits from the implemented projects to achieve a better life for citizens and provide job opportunities.

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