Egypt’s PM to hold press conference on government’s plan to face global economic crisis – Egypt Today

Egypt’s PM to hold press conference on government’s plan to face global economic crisis – Egypt Today

CAIRO – 15 May 2022: Prime Minister Mostafa Madbouli will hold Sunday a press conference to present the government's plan to mitigate the impact of the global economic crisis, and attract local and foreign investments. During his visit to Tunisia last week, the prime minister said that, to preserve the rates of sustainable economic growth in Egypt, the government has established holding companies that will be subject to initial public offering (IPO) very soon. Those are precisely in the sectors of maritime transportation and hospitality. Madbouli added that the government is also expanding the scope of the public-private partnerships, particularly in the sectors of energy and utilities. That is in addition to offering foreign direct investment opportunities in the sectors of telecommunications, information technology, new and renewable energy. The prime minister had earlier announced that a unit has been launched at the Cabinet under his direct supervision to resolve the issues of investors. He had also noted that a maximum duration would be set for ministries and agencies to issue licenses and approvals. In March, the Central Bank of Egypt (CBE) had also taken measures to alleviate the impact of rising inflation caused by the Russian-Ukrainian War. Thus, it raised