Egypt’s Ministry of Planning and
Economic Development (MPED) has begun preliminary discussions on strategizing
the country’s investment priorities for the coming fiscal year (FY2024/2025).
Minister of Planning, Minister Hala el Saeid, met with ministry officials on Tuesday 26/12/2023 to evaluate the FY2023/2024 plan and achievements, project completion rates, and other key indicators under MPED’s purview.
The minister emphasized the importance of engaging in early discussions to prepare for the new fiscal year while taking into consideration the various complex challenges that Egypt is dealing with.
The meeting comprised the Deputy Minister of Planning and Economic Development Ahmed Kamali, the Economic Advisor to the Minister Fathi Saqr, the Assistant Minister for Sustainable Development Plan Affairs Jameel Helmy, and other key officials from various sectors.
The meeting included dialogue on the investment structure for FY2024/2025, methods to increase the private sector’s role in the economy, as well as the efficient utilization of available resources through government austerity measures.
El Saeid added that the ministry is looking to grow the percentage of green projects to 50 percent for the new fiscal year, in line with the updated version of Egypt's Vision 2030. She also stressed that investments directed towards the health and education sectors are a priority.
As part of efforts to ensure the new plan is representative of all sectors, El-Said gave instructions to begin extensive meetings with the private sector, parliamentary members, experts, and civil society figures.
Earlier in December, El Saeid shared that Egypt is looking to invest LE 100.7 billion to boost the manufacturing sector for the upcoming fiscal year.
Source: State Information Service
