Egypt hopes to attract investment of $10-$12 billion in 20 projects, including in energy, transport and water, at a major conference in mid-March, the minister for international cooperation was cited as saying on Saturday by Reuters.
The conference is seen as a critical part of the government's economic reform plan that has resulted in slashed energy subsidies and raised taxes. The government has also resolved disputes with existing investors as it seeks to revive an economy battered by political turmoil since a 2011 uprising.
"For the time being we have around 20 projects and divided between three categories: PPP, private and public," Naglaa al-Ahwany said, referring to private-public partnerships.
"Most of them are in the areas of energy, transport, water, grain storage," she said in an interview with Reuters. "We plan to have projects worth from $10-12 billion."
Ahwany said the conference would also showcase master plans for the development of an industrial and logistics hub near the Suez Canal, which was announced this year, and for the development of a mining zone in southeastern Egypt.
President Abdel Fattah El-Sisi told visiting U.S. businessmen last week that Egypt would hold parliamentary elections before the conference, trying to reassure them that a delayed poll would not be put off indefinitely amid a crackdown on political dissent.
The conference is seen as a critical part of the government's economic reform plan that has resulted in slashed energy subsidies and raised taxes. The government has also resolved disputes with existing investors as it seeks to revive an economy battered by political turmoil since a 2011 uprising.
"For the time being we have around 20 projects and divided between three categories: PPP, private and public," Naglaa al-Ahwany said, referring to private-public partnerships.
"Most of them are in the areas of energy, transport, water, grain storage," she said in an interview with Reuters. "We plan to have projects worth from $10-12 billion."
Ahwany said the conference would also showcase master plans for the development of an industrial and logistics hub near the Suez Canal, which was announced this year, and for the development of a mining zone in southeastern Egypt.
President Abdel Fattah El-Sisi told visiting U.S. businessmen last week that Egypt would hold parliamentary elections before the conference, trying to reassure them that a delayed poll would not be put off indefinitely amid a crackdown on political dissent.
Source:
Mubasher
