Egyptian President Abdel-Fattah El-Sisi stressed on Wednesday the importance of the private sector’s role in development projects, saying that some 4,475 private companies have participated in national development projects nationwide with investments ranging from EGP 1 billion to EGP 75 billion.
The state is implementing – in partnership with private sector – development projects worth EGP 1.1 trillion, El-Sisi said, adding that these projects have created jobs for more than 3 million families.
During the inauguration of a major industrial complex in Assiut on Wednesday, the president stressed that this large number of development projects could not have been carried out without the contribution of private sector companies.
The president said the private sector is a key partner in the country’s development process, asserting that the state seeks to encourage non-state-run companies to participate further in housing, agricultural, energy, transport, and roads projects.
A private sector company has acquired ventures worth EGP 75 billion over the past seven years, the president said, without revealing the company’s name.