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Egypt invested $400B on infrastructure to attract investments | PlanningMin

The deterioration and instability of Egypt’s infrastructure over the years compelled the state to inject funding into infrastructure to improve Egyptians’ lives and attract investors, she added

By: Business Today Egypt

Wed, Nov. 2, 2022

The Egyptian state has invested $400 billion into developing the country’s infrastructure to encourage large investments and improve citizen’s quality of life, explained Minister of Planning and Economic Development Hala El-Said.

The deterioration and instability of Egypt’s infrastructure over the years compelled the state to inject funding into infrastructure to improve Egyptians’ lives and attract investors, she added.

The minister's remarks were made during her meeting yesterday with a delegation of the Qatar Businessmen Association (QBA), chaired by Sheikh Faisal bin Qassim Al Thani in the presence of Head of the Federation of Egyptian Industries (FEI) Mohamed El Sweidi.

The Sovereign Fund of Egypt is an important investment arm of the Egyptian government and seeks to explore available investment opportunities in cooperation with the private sector, she explained.

El-Said briefed the attendees on the fund’s special law that enable it to unlock unique assets for investors and engage the government to help implement structural reforms, adding that such law also maintains the rights of future generations and in the meantime enjoys resilience that is much needed by the investment sector.

The two sides addressed means of beefing up cooperation and luring in Qatari investments to Egypt.