Dr. Amr Suleiman, a professor of economics at Helwan University, stated that empowering the private sector and attracting foreign investments are top priorities for the Egyptian state. This aligns with the vision of President Abdel Fattah El-Sisi since he took office, alongside efforts to reduce bureaucracy and develop the country's infrastructure. Suleiman highlighted that Egypt has undergone significant changes over the past decade, characterized by modernized infrastructure, security stability, and institutional and political stability.
According to Suleiman, the necessary requirements for attracting and localizing investments in various sectors are now available within Egypt. He pointed out that the mining sector is one of the promising sectors that represent neglected wealth for decades. The sector's contribution to the national output was less than 1% before President El-Sisi took office, despite the country's rich and diverse mineral resources.
Suleiman noted the success of the partnership with the foreign private sector in the gold sector and that the state is moving towards maximizing the value added by mining wealth. He cited the development of phosphate production and the establishment of industrial complexes in the New Valley and Ain El-Sokhna to convert raw materials into phosphoric acid and other products, supporting industrial localization and reducing dependence on abroad.
The discussion took place during the Egypt Mining Forum, where Dr. Suleiman was interviewed on the "Hourly News" program broadcast on the Nile News channel. The forum is part of the state's efforts to boost the mining sector, which is considered one of the main areas for economic growth. Suleiman emphasized that the current period is witnessing significant attention to the mining sector, with a focus on attracting investments.
The Egyptian state has been keen to develop the mining sector, which has great potential for growth. The sector has seen several developments in recent years, including the launch of new mining projects and the development of existing ones. The state aims to increase the sector's contribution to the national output and create new job opportunities.
Dr. Suleiman also discussed the importance of the private sector's role in the mining sector. He pointed out that the private sector has a crucial role to play in the development of the sector, and that the state is working to create a favorable investment climate. This includes providing incentives and reducing bureaucratic procedures.
The Egyptian government has been working to improve the business environment and attract foreign investments. The state has implemented several measures to simplify procedures and provide incentives for investors. These efforts aim to increase confidence in the Egyptian economy and attract more investments.
Key points
- Empowering the private sector and attracting foreign investments are top priorities for the Egyptian state.
- The mining sector is one of the promising sectors that represent neglected wealth for decades.
- The state aims to increase the sector's contribution to the national output and create new job opportunities.
