Egypt’s Minister of Investment Ashraf Salman said the state is facing a major challenge of adopting a comprehensive economic reform.
Salman added that Egypt is targeting EGP 410 billion local and foreign investments, to achieve a growth rate of up to 3.5% in this fiscal year.
The Minister expected the growth rate to reach 6% in 2018-2019, so the poverty rate may decline from 24% currently to 20% and the unemployment from 13.4% to 10%, according to Ahram Online.
The current law offers several guarantees and incentives to investors such as preventing confiscation and nationalization, and offering good guarantees related to land plots and projects.
Salman added that Egypt is targeting EGP 410 billion local and foreign investments, to achieve a growth rate of up to 3.5% in this fiscal year.
The Minister expected the growth rate to reach 6% in 2018-2019, so the poverty rate may decline from 24% currently to 20% and the unemployment from 13.4% to 10%, according to Ahram Online.
The current law offers several guarantees and incentives to investors such as preventing confiscation and nationalization, and offering good guarantees related to land plots and projects.
Source:
Mubasher
