Egypt’s Minister of Planning and Economic Development participates in the meeting of the French Chamber of Commerce

Dr. Hala El-Said, Minister of Planning and Economic Development, participated recently in the meeting held by the (CCIFE) FRENCH Chamber of Commerce in the presence of the heads of French companies in Egypt, which was held at the home of the French Ambassador to Egypt Stéphane Romatet.
During her speech delivered in the meeting, El-Said highlighted the latest developments in the growth of the Egyptian economy and the potential investment opportunities for the private sector in Egypt.El-Said noted that the Egyptian government launched the National Program for Economic and Social Reform (NPESR), with a clear goal of implementing a series of reforms that would lead to macroeconomic stability, inclusion, and sustainable growth.El-Said added that in recent years, the state has already successfully implemented many major infrastructure development projects with the private sector, such as the development of the Suez Canal axis.

El-Said explained that many other projects within the energy sector were implemented such as the establishment of the largest solar power plant in the world in the "Benban" area in Aswan Governorate, in addition to the establishment of industrial zones and cities most notably The New Administrative Capital.
El-Said added that the Egyptian government is committed to pursuing the second phase of the reform program to enhance the resilience of its economy and its ability to withstand external and internal shocks, noting the launch of the structural reforms program, which targets different sectors to encourage inclusive growth, create new job opportunities, and diversify production patterns.El-Said referred to the legislative and institutional reforms included in the reform program, the most prominent of which were the new investment law, the industrial licensing law, the bankruptcy and market exit law.

El-Said explained that the national structural reforms program targets the real sectors and the three interconnected markets represented in the capital market, the trade market, and the labor market, with an increased focus on diversifying the productivity structure of three main priority sectors, namely agriculture, industry, communications, and information technology.

Concerning enhancing the business environment and the role of the private sector, El-Said explained that the Egyptian government intends to adopt many policies to speed up the process of improvement, including simplifying and mechanizing customs release procedures for goods in Egyptian ports.

El-Said also discussed the legislative reforms and the measures taken by the Egyptian government, noting that amendments were made to the law regulating private sector investment in infrastructure projects, services, and public utilities to further encourage the private sector and expand the areas of business involved and types of participation. El-Said added that the government is also working to intensify the infrastructure modernization program to stimulate private sector activity, explaining that public investments directed to the infrastructure sector during the past seven years amounted to EGP 1.7 trillion, and exceeding $100 billion.On Egypt's efforts to enhance the participation of the private sector in the development agenda, El-Said referred to the ongoing discussions about the private sector's investment in educational services through the national project to establish and operate distinguished participating language schools.

El-Said also referred to the establishment of The Sovereign Fund of Egypt (TSEF) as one of the mechanisms for enhancing the partnership with the private sector, which aims to create investment opportunities in promising sectors with high growth.
 Regarding the government’s efforts in the fields of energy and transportation, El-Said referred to the application of “Environmental Sustainability Criteria” to green the national investment plan, according to these criteria, adding that Egypt is currently preparing two national strategies represented in the national strategy for climate change and the national strategy for hydrogen, to explore opportunities for production, use, and transportation of hydrogen. as an energy source.


Concerning renewable energy and irrigation projects, El-Said referred to the establishment of the largest solar power plant in the world in the Benban area, as well as the establishment of wind farms in the Gulf of Suez (Jabal El-Zeit) using modern technology.

El-Said added that Egypt will host the COP27 climate conference in 2022 in Sharm El-Sheikh.

El-Said concluded her speech by stressing that the Egyptian economy has great potential for more investments and business expansion, stressing full confidence in Egypt’s progress on a positive path until 2030.