Skip to content Skip to Search
Skip navigation

Egypt’s 144 reforms propelled private sector says Madbouly

By Pramod Kumar
Egyptian Prime Minister Mostafa Madbouly speaks during the World Governments Summit in Dubai Reuters/Amr Alfiky

The Egyptian government has implemented 144 reforms since May 2022 to support the private sector and attract foreign and local investors, according to Prime Minister Mostafa Madbouly.

More than 1,000 private sector companies are participating in state-run programmes to boost the Egyptian economy and promote private sector engagement, Egypt Today newspaper reported, citing Madbouly in a speech at the World Government Summit in Dubai.

Madbouly said that Egypt seeks to raise the contribution of the installed capacity in the renewable energy network to 42 percent in 2030 by implementing several agreements and cooperation protocols.

He added that the country aspires to become a regional hub for green hydrogen by 2026 and a global centre for green hydrogen production by 2030, with a special emphasis on green investments.

“We are making unprecedented efforts to stimulate the performance levels of a number of economic sectors, led by agriculture, industry, communications and information technology, to raise their contribution to the gross domestic product to 50 percent in 2030.”

Egypt aims to raise the proportion of green public investments in the fiscal year 2024/2025 to nearly 50 percent to drive sustainability initiatives and reduce carbon emissions, the prime minister said.

Latest articles

Sainsbury's has the second-largest share of the UK grocery market, at 15 percent, behind Tesco at 28 percent

Qatar to reduce stake in UK supermarket Sainsbury’s

Qatar’s sovereign wealth fund is selling part of its 15 percent stake in the British supermarket Sainsbury’s as the fund pushes ahead with expansion in the United States and Asia, particularly China and India. Qatar Investment Authority (QIA), the biggest shareholder in Sainsbury’s, is selling £306 million ($399 million) worth of shares in the retailer, […]

Shoppers in Kuwait's Avenues Mall – the IMF says the country needs to encourage private sector employment

Kuwait needs to push reforms for economic growth, says IMF

Kuwait must accelerate the introduction of fiscal and structural reforms that are needed to increase private sector-led growth and diversify its economy away from hydrocarbons, the International Monetary Fund said on Friday. Kuwait’s economy will contract by 3.2 percent this year because of an Opec+ oil production cut, but will grow by 2.8 percent in 2025 […]

Thani Al Zeyoudi, Minister of State for Foreign Trade of the United Arab Emirates, (UAE) speaks during the Skybridge Capital SALT New York 2021 conference in New York City, U.S., September 15, 2021. REUTERS/Brendan McDermid Dr Thani bin Ahmed Al Zeyoudi, the UAE’s minister of state for foreign trade, said 'Malaysia offers substantial opportunity for our exporters, industrialists and business leaders' UAE Malaysia Cepa

UAE and Malaysia sign Cepa to increase bilateral trade

The UAE and Malaysia have signed a free trade deal, bringing the number of deals the Gulf state has agreed with foreign governments to 12. The comprehensive economic partnership agreement (Cepa) will seek to eliminate or reduce tariffs, lower trade barriers, increase private sector collaboration and create new investment opportunities, the two countries said in a […]

Modern buildings in the city center of Riyadh, Saudi Arabia

Riyadh leads Saudi Arabia’s hot property market

Strong population and employment growth in Riyadh is driving a surge in real estate transactions as new properties cannot come on the market fast enough. A dramatic rise in the number of deals in the 12 months to the end of June was also visible in Jeddah and Dammam, according to a report this week […]