CAIRO - 28 April 2025: Private sector investments in Egypt have soared by nearly 80%— the highest rate recorded in years — following government initiatives to foster competitive neutrality, according to recent statements by Finance Minister Ahmed Kouchouk.
Speaking at the Second Annual Conference of the Egyptian Competition Authority on Monday, Kouchouk revealed that ten major projects are scheduled for activation this year. He emphasized that the commitment to competitive neutrality remains vital to maintaining this investment momentum.
Kouchouk highlighted the significance of the State Ownership Policy Document, which lays out clear principles and a strategic vision for Egypt’s gradual withdrawal from select economic sectors. This shift is designed to strengthen the free-market economy and empower private sector growth.
These reforms, he noted, are part of a broader government strategy aimed at attracting more investments, improving the business environment, and advancing sustainable development. The planned projects are expected to create new employment opportunities and drive growth across multiple sectors.
The minister stressed the need for close coordination among all stakeholders to ensure the success of these initiatives, adding that enhancing transparency and promoting fair competition are key pillars in modernizing Egypt’s economy.
Kouchouk also pointed to significant sectoral growth over the past six months: tourism expanded by 13.1%, manufacturing by 12.4%, and the communications and information technology sector by 15.1%. Overall, Egypt’s economic growth rate climbed from 2.5 % to 3.9% during the period from July to December 2024.
Mon, Apr. 28, 2025
