Egypt's Private Sector Investments Surge by Nearly 80 Percent Amid Economic Reforms
Ahmed Kouchouk, Egypt's Minister of Finance, announced that private sector investments have risen by almost 80 percent — the highest rate seen in years — as a result of recent government reforms aimed at fostering competitive neutrality.
Speaking at the Second Annual Conference of the Egyptian Competition Authority on Monday, Kouchouk revealed that ten major projects are scheduled to be activated this year. He emphasized that these projects highlight the importance of continuing to apply the principles of competitive neutrality, which are essential for promoting fair market practices.
Kouchouk explained that the State Ownership Policy Document has outlined clear principles and a strategic vision, reflecting the government's commitment to gradually withdraw from certain sectors of the economy. This approach is designed to strengthen the free-market system and empower private sector participation.
These efforts, he noted, are part of a broader government strategy to attract more investments, improve the overall business environment, and support sustainable development. The projects expected to launch this year are anticipated to create significant job opportunities and contribute to boosting economic growth across multiple sectors.
The Minister underlined the need for strong coordination among all concerned institutions to ensure the success of these initiatives. He stressed that reinforcing transparency and maintaining fair competition are key pillars for the ongoing development of Egypt's economy.
Kouchouk also pointed out that several sectors have shown strong performance over the past six months. The tourism sector recorded a growth of 13.1 percent, the manufacturing sector grew by 12.4 percent, and the communications and information technology sector expanded by 15.1 percent. Meanwhile, Egypt's overall economic growth rate rose from 2.5 percent to 3.9 percent during the period from July to December 2024.
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