Investment Minister Ashraf Salman denied claims that armed forces and other public sector companies are competing with private investors in the state's investment plan.
"What we see on the ground denies these claims. The government's share of the investment plan does not exceed LE58 billion, while the private sector's share reaches LE280 billion, achieving a growth rate of 3.8 percent, which we hope could reach 4 percent," the minister said during a press conference on Sunday.
He said Egypt is going through critical time of its history, as it succeeded despite the international economic slowdown to gain confidence of Arab and foreign investors through its economic reform plan and the large projects in partnership with the private sector.
Salman added that "Egypt has 1.6 billion consumers through its regional and international trade agreements."
Edited translation from Al-Masry Al-Youm