26 May 2024 09:43 AM

PM: Cabinet welcomes direct contact with investors

Saturday، 28 May 2022 - 09:51 PM

Egypt’s Prime Minister Mostafa Madbouli on Saturday 28/05/2022 said the cabinet welcome making direct contact with investors through a permanent unit established to solve their problems.

Meeting Emirati investors in Abu Dhabi, the prime minister added that the state is currently expanding and establishing new airports, including those of Sphinx, El Alamein, and the New Administrative Capital, and is working to encourage private airlines to expand their activities in the Egyptian market.

Madbouli also affirmed the state's keenness to expand new gas explorations.

The "Eastern Mediterranean Gas Forum" is concerned with increasing gas liquefaction capacities, he added.

Egypt desires to expand the establishment of stations and liquefaction lines to absorb gas in the whole eastern Mediterranean region, he further added.

“We have huge capacities of renewable energy, as well as wind energy that can reach about 300 gigawatts,” Madbouli said.

The file of water desalination using renewable energy is of interest to the Egyptian state, as it is expected that there will be a need for more investments in this field, he added.

In turn, Planning and Economic Development Minister Hala el Saeed said indicators of the Egyptian economy serve efforts to boost investment.

The Egyptian economy is diversified. Many sectors of the Egyptian state achieve varying rates of growth despite global crises, she added.

Egypt is now focusing on attracting more foreign direct investment, not hot money, the minister said.

It was the hot money that led to pressure on the exchange rate during the last period, but today the cash reserve comes from strong and sustainable sources, which contributes to achieving stability, she added. 


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