Planning Minister Ashraf al-Araby said the investment plan for the 2014-2015 fiscal year is still under consideration but revealed that it would target a growth rate between 4-4.5 percent.
The new plan will include projects on a regional and governorate level through the regional planning committee, which had been formed by Prime Minister Hazem al-Beblawy's order, along with the local planning committee to develop projects under the plan.
The Cabinet, according to Araby, targets attracting private investment through providing a safe atmosphere for investors. Investors need security and political stability, a clear vision for plans and projects, clear laws and legislation that are currently being amended by government to be suitable for investing.
"The Gulf Investment Conference that was recently held had a positive impact on Arab investors," Araby said. "Its effects will be clear within the coming few months."
Araby noted that indicators in the first quarter of the 2013-2014 fiscal year have been weak due to political incidents. However, he expressed optimism over the third and fourth quarters of this fiscal year during which the impact of the economic stimulus packages will be felt.
Edited translation from MENA
