“Egypt's economy will be one of the strongest in the world by 2030”

“Egypt’s economy will be one of the strongest in the world by 2030”

Egypt’s economy will become one of the strongest in the world in seven years. Egyptian Prime Minister Moustafa Madbouli made the assurance.

“According to all available indicators, the Egyptian economy aims to become one of the strongest economies in the world in 2030,” Madbouli said in his speech at a conference in Cairo dedicated to the country’s achievements and development. during the coming period. He stressed that the government “issued 22 decrees aimed at encouraging large investments”, created an environment conducive to the development of competition, which is protected by legislation, and took measures to strengthen the position of the private sector.

According to the Egyptian Prime Minister, “14 logistics zones and an economic zone in the Suez Canal region” have been created in the country. By decision of the government, “17 modern industrial complexes were built, more than 4 million acres (over 1.6 million hectares) of agricultural land were put into circulation in order to ensure food security in the country “. The head of the cabinet of ministers also drew attention to the fact that 1.5 million housing units have been built in recent years. Additionally, the number of universities in Egypt has almost doubled over the past nine years, from 50 in 2014 to 96 at present.

For his part, Egyptian President Abdel Fattah Al-Sisi, who participated in the conference, highlighted the role of the renovated and reconstructed Suez Canal in the country’s development. According to the Head of State, revenues from the operation of this hydraulic structure will exceed $10 billion for the first time by the end of the year and will reach $10.5 billion. Last year, the Suez Canal brought in a record $9.4 billion to the Egyptian public treasury.