THE MINISTER OF PLANNING AND ECONOMIC DEVELOPMENT STRESSES THE ROLE OF THE PRIVATE SECTOR AS A KEY PARTNER IN THE DEVELOPMENT PROCESS
H.E. Dr. Hala El-Said, Minister of Planning and Economic Development, said that the Egyptian state is studying all global economic developments and their effects on the region, noting that the state's plan is carried out in coordination with all ministries, institutions, the private sector, and civil society.
The Minister of Planning and Economic Development praised what Prime Minister Mostafa Madbouly presented at the global press conference that took place on Sunday.El-Said stressed the implementation of the Prime Minister’s assignments to achieve what was put forward, and this will be evident in all the moves of the Ministry of Planning and Economic Development and the Sovereign Fund, starting with continuing to pump more public investments in the sectors of infrastructure, electricity, road network, and ports, because investments in infrastructure aim to attract the private sector and investors.
El-Said stated that the Egyptian government's goal in launching Egypt's plan to confront the effects and repercussions of the economic crisis comes as a message that the government is open to society and the private sector, stressing the role of the private sector as a major partner in the development process as it is the main operator of the workforce.
The Minister of Planning and Economic Development indicated that the state is continuing in the second phase of the economic reform program. It is the National Structural Reform Program, which aims to increase technical employment from 45% to 60% over the next four years.
The state will also support the real economy sectors, the top of which are industry, agriculture, communications, and information technology, to increase the efficiency of the economy, in a way that will benefit the citizens' standard of living, and to participate more in the private sector.
Dr. Hala El-Said referred to the state ownership document; Which will be issued within a few weeks, noting that the document was submitted to the private sector for discussion. She explained that the projects and sectors in the document will be in specific colors; Where the green color refers to the projects of the private sector in full, and the yellow color to the joint projects between the government and the private sector in what is called “competitive neutrality”, and there are also sectors that directly affect the lives of citizens, which the state will continue to invest in.
Dr. Hala El-Said explained that the sovereign fund seeks to build partnerships with the local and foreign private sector to maximize the use of state assets, as well as renewable energy projects, the education and health sectors, and some high-tech industries.
El-Said added that offering some assets and government shares in companies to strategic investors or through offering in the stock exchange leads to more governance and transparency, in addition to the main goal of maximizing the value of these assets for the benefit of future generations, as they are long-term investments with great added value.