Over 1,000 Egyptian private firms participate in national projects: Madbouly

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Over 1,000 private sector companies are taking part in mega national projects that enhance Egypt’s infrastructure development, Prime Minister Mostafa Madbouly stated.

This comes as part of the country’s efforts to foster partnership between the private and public sectors, Madbouly said.

Moreover, he added that this move helped in providing 5 million job opportunities.

During the period from May 2022 to September 2023, the country adopted 144 reforms to support the private sector to boost the attractiveness of the business environment in Egypt and empower the local economy, Madbouly highlighted.

He also noted that the Egyptian government seeks to raise the contribution of several sectors to gross domestic product (GDP).

The agricultural, industrial, communications and information technology sectors come on top of these sectors, with the government aiming to boost their contribution to GDP to 50% by 2030, as compared to the current contribution ranging between 30% and 35%, Madbouly added.

Furthermore, he said it seeks to raise the contribution of the installed capacities in the network of renewable energy to 42% in 2030 by carrying out several agreements and cooperation protocols in the renewable energy sector.

Egypt also plans to be a regional hub for green hydrogen by 2026 and a global center for green hydrogen production by 2030, as per Madbouly.