Egypt To Present New Range of Investment Opportunities at EU-Egypt Conference in JuneSource: www.export-egypt.com 6/2/2024, Location: Africa |
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Egypt will reveal a new diverse set of investment opportunities across key sectors during the upcoming joint investment conference between Egypt and the European Union, Prime Minister Mostafa Madbouly disclosed in a recent meeting.
Madbouly outlined the government's intention to present a diverse range of attractive investment opportunities to both Arab and foreign investors during the EU-Egypt Investment Conference, scheduled for June 29-30. In a virtual meeting attended by over 200 international investors representing 110 investment firms from various sectors, Madbouly emphasized the government's strategy to foster transparency, implement clear economic policies, and establish a stable legislative framework to attract more investors to the local market. He added that this includes offering new investment avenues supported by smart tax and financial policies. Madbouly highlighted industry, agriculture, ICT, and tourism as the primary sectors of focus by international investors and the government. He also underscored the government's commitment to the Initial Public Offering (IPO) program, which involves allocating shares in state-owned assets to enhance the private sector's role in the Egyptian economy. The IPO program, part of the State Ownership Policy Document, aims to offer shares in over 35 state-owned companies to strategic investors by June 2024. As of January 2024, the program has attracted $3.5 billion in investment, nearing its $5 billion target. The PM emphasized Egypt’s commitment to implementing the State Ownership Policy Document, with the goal of increasing the private sector's contribution to the national economy to 50 percent within the current year and 65 percent over the next three years. Madbouly also affirmed the government's pledge to improving investor confidence, transparency, and the implementation of consistent economic policies designed to provide effective solutions and create stable legislative frameworks conducive to sustained investment growth. |
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