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Thursday, 26 November 2020

Egypt to expand PPP projects with private sector in transportation: Finance minister

The achievements that Egypt attained over the past five years have led to the country to shoot up more than 50 places on the Doing Business report’s transport sector index, the finance minister said

Doaa A.Moneim , Sunday 15 Nov 2020
Finance Minister
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The Egyptian market is set to witness an expansion of transportation projects based on the public-private partnership (PPP) to achieve inclusive and sustainable development, Minister of Finance Mohamed Maait announced on Sunday.

Maait said that the achievements that Egypt attained over the past five years have led to the country to shoot up more than 50 places on the Doing Business report’s transport sector index.

“The private sector is the key driver of Egypt’s growth through financing the projects that create hundreds of thousands of job opportunities, which increases the consuming average and pushes the production process and uplifts citizens’ living standards,” said Maait.

He added that a new draft law has been submitted to parliament that includes amendments to the law that organises partnership with the private sector in infrastructure, services and public utilities with the aim of increasing cooperation with the private sector in implementing development projects and lightening the load on the state budget.

Minister of Transport Kamel El-Wazir asserted the imperative role the private sector plays in Egypt in implementing the state’s developmental projects.

He added that the ministry has a significant number of projects in which the private sector should participate and invest, including establishing logistic centres and dry ports in New Beni Sweif, 10th of Ramadan City, New Sohag, and El-Salloum.

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