Egypt said that public investments directed to infrastructure during the last seven years amounted to EGP 1.7 trn ($100bn), according Minister of Planning and Economic Development Hala El-Saeed
This came during her participation in First Edition of IPAs Africa Forum entitled “Integration for Growth”, held in Sharm El-Sheikh from 11 to 14 June.
El-Said’s took part in a session held during the first day of the first forum of the heads of African investment promotion agencies was entitled “Enhancing the Participation of the Private Sector: The Role of African Governments and Regional Partners”.
During her speech, El-Said pointed to the importance of the private sector’s participation in development efforts, as the partnership between the government and the private sector is one of the main pillars for achieving UN 17 SDGs.
El-Said explained that achieving sustainable development by 2030 requires concerted efforts and mobilization of all available resources from governments and the private sector.
“Africa is a continent of challenges and opportunities. It faces many development challenges, which have increased in severity with the Covid-19 pandemic, most notably the lack of sufficient funding. However, Africa’s Agenda 2063 recommends reforming the financing system and mechanisms for development plans,” El-Said said.
She added that, in recent years, many African countries have intensified the efforts of economic reforms, structural reform, and creating a business environment.
“During the past decade, 32 African countries were able to implement economic reforms, of which 22 countries were accompanied by structural reforms, which indicates Africa’s continued commitment to reform and the push towards prosperity,” She explained.
El-Said also pointed to the increasing population growth in Africa as one of the continent’s advantages, explaining that although it is a development challenge, at the same time it creates promising investment opportunities.
