Private Sector Accounts for 63% of Egypt’s Total Investments
Private investment rose 32% over the past year, after growing 77% the year before, Finance Minister Ahmed Kouchouk said.
The private sector accounted for 63% of total investments in Egypt over the past year, according to Finance Minister Ahmed Kouchouk.
Speaking during an open dialogue with the business community at the American Chamber of Commerce in Cairo, Kouchouk said private investment increased 32% last year, following a 77% rise the year before.
He also pointed to stronger foreign direct investment, with further growth expected from new projects in energy and manufacturing. Kouchouk said productive sectors had supported faster economic growth over the past year, while yields on Egyptian international bonds had also improved.
On the domestic market, Kouchouk said the Egyptian Exchange had seen stronger performance alongside recent tax reforms. He added that incentives had been introduced to encourage listings and trading, with the government seeking to attract larger companies to the market.
Tax revenues also increased significantly during the year without the introduction of new taxes, according to the minister. He attributed the rise to a broader taxpayer base and said the Finance Ministry would continue simplifying procedures and improving services to support voluntary compliance.
Kouchouk also highlighted service industries as an area of focus, citing their potential for rapid growth and job creation.
