CAIRO, June 10 (MENA) – Prime Minister Mostafa Madbouli said the government exerts great efforts continuously to create a favorable investment climate and strengthen the role of the private sector as a key partner in various development processes.

The premier’s remarks came during a meeting held Tuesday to review investment opportunities in the energy sector over the next 10 years. The meeting was attended by Electricity and Renewable Energy Minister Mahmoud Esmat and Investment and Foreign Trade Minister Hassan El-Khatib, and officials from both their ministries.

Madbouli said the government works on realizing the desired goals through the implementation of further structural and legislative reforms, along with offering more facilitations and incentives to attract investments in several promising sectors, particularly the energy sector.

He pointed out that the state adopts numerous steps and procedures to create a more competitive national economy through implementing realistic monetary policies, which have positively impacted various economic indicators, contributing to stability and enhancing confidence in the investment environment in Egypt.

The state also works on adopting investment-friendly fiscal policies. These policies help govern and regulate fees, reduce non-tax financial burdens, digitize various services provided to investors, and unify collection entities, he stated.

Madbouli added that the state also works on developing an open trade policy to improve its global trade rankings, along with state-led efforts to enhance the private sector’s role in the economy through increasing its participation in various economic activities under the State Ownership Policy Document.

During the meeting, Esmat outlined the investment plan for the electricity sector, explaining that it focuses on investments in power generation, transmission and distribution networks, electrical components, and nuclear energy.

The minister said the investment plan also includes electricity interconnection projects, such as those with Italy and Greece, noting that all related necessary approvals have been obtained from both countries, as well as from the European Union. (MENA)

K F E/R E E