Egypt, Oman Have Competitive Advantages to Upgrade Economic TiesSource: www.export-egypt.com 5/22/2023, Location: Africa |
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Planning Minister Hala el Saeid said that Egypt and Oman have competitive advantages at the economic level.
The government is exerting utmost efforts to achieve development and is seeking to attract more local and foreign investments, Saeid said in a speech at the Egyptian-Omani business forum held on the sidelines of Sultan Haitham bin Tareq’s current visit to Egypt. She urged Arab countries to act to achieve economic integration and benefit from each other’s competitive advantages to be able to safely overcome global crises. The minister made it clear that up to 80 percent of the workforce in Egypt is under the umbrella of the private sector. The private sector contributes to 75 percent of economic growth in Egypt, Saeid told the forum, adding that the Egyptian state is firm on reforming the infrastructure without which no businessmen would come to work in Egypt. She touched upon an unprecedented development in the road network and the infrastructure, which also coincided with a structural reform process to achieve sustainable growth through four axes: the industry, the agriculture, information technology and logistics. Egypt has many advantages to benefit from, the minister said, citing its promising market of 104 million citizens and its 60-percent youth population. She added that Egypt is also a gate to African markets of 1.3 billion peoples. |
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