{"id":560437,"date":"2021-02-28T04:42:01","date_gmt":"2021-02-28T04:42:01","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/28\/egypts-private-sector-will-lead-growth-in-five-years\/"},"modified":"2021-02-28T04:42:01","modified_gmt":"2021-02-28T04:42:01","slug":"egypts-private-sector-will-lead-growth-in-five-years","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/28\/egypts-private-sector-will-lead-growth-in-five-years\/","title":{"rendered":"Egypt\u2019s private sector will lead growth in five years"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Private sector investments will take the lead in Egypt\u2019s economy within five years, by<\/strong><strong> which time public investments will be gradually tapered off<\/strong>, Prime Minister Moustafa Madbouly said at a webinar hosted by AmCham and the Egypt-US Business Council on Thursday. Over the next 3-5 years, the government will continue to invest heavily in the economy, with an eye to attract investments and help the economy stage a post-covid recovery, Madbouly said. After that phase is over, the private sector will be given the reins.<\/p>\n<p><strong>In the meantime, the government knows where it wants private businesses to invest:<\/strong> In addition to a portfolio of unspecified projects cabinet will outline for the private sector in the coming period, Madbouly called on businesses to invest in national projects and initiatives, including the EGP 500 bn Decent Life initiative.<\/p>\n<p><strong>The private sector continues to lag behind other areas of the economy:<\/strong> The need for more private sector involvement in the economy was made clear in a World Bank\/International Finance Corporation report last year that said that private businesses <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/38b1261a-92be-4b13-9b9d-72bdf1261ddc\">are yet to feel the benefits of the government\u2019s economic reform program<\/a>. Although the private sector accounts for some 70% of the country\u2019s GDP, private investment continues to lag behind historical averages and FDI inflows remain low by international standards, the bank said.<\/p>\n<p><strong>One indicator:<\/strong> PMI data shows that private sector business activity outside the oil and gas sector has grown in only five months over the past three years.<\/p>\n<p><strong>The large presence of state-owned enterprises, the presence of tariff and non-tariff trade barriers and a slow and inconsistent court system<\/strong> were all among the biggest impediments to meaningful private sector growth the World Bank identified.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Private sector investments will take the lead in Egypt\u2019s economy within five years, by which time public investments will be gradually tapered off, Prime Minister Moustafa Madbouly said at a webinar hosted by AmCham and the Egypt-US Business Council on Thursday. Over the next 3-5 years, the government will continue to invest heavily in the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":560438,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8507],"tags":[104,72,100],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-560437","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-policy","tag-economy","tag-enterpriseam","tag-policy","wpautop","entry"],"acf":{"mongo_id":"ec4c6e5d-075c-480a-8514-4030e681d9a4","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/2\/388.jpg","photo_position":"above","related_issue":[560423],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt\u2019s private sector will lead growth in five years - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/28\/egypts-private-sector-will-lead-growth-in-five-years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s private sector will lead growth in five years\" \/>\n<meta property=\"og:description\" content=\"Private sector investments will take the lead in Egypt\u2019s economy within five years, by which time public investments will be gradually tapered off, Prime Minister Moustafa Madbouly said at a webinar hosted by AmCham and the Egypt-US Business Council on Thursday. Over the next 3-5 years, the government will continue to invest heavily in the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/28\/egypts-private-sector-will-lead-growth-in-five-years\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-28T04:42:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/2\/388.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/28\/egypts-private-sector-will-lead-growth-in-five-years\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/28\/egypts-private-sector-will-lead-growth-in-five-years\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt\u2019s private sector will lead growth in five years\",\"datePublished\":\"2021-02-28T04:42:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/28\/egypts-private-sector-will-lead-growth-in-five-years\/\"},\"wordCount\":293,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/28\/egypts-private-sector-will-lead-growth-in-five-years\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/2\/388.jpg?fit=%2C&ssl=1\",\"keywords\":[\"economy\",\"EnterpriseAM\",\"policy\"],\"articleSection\":[\"Policy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/28\/egypts-private-sector-will-lead-growth-in-five-years\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/28\/egypts-private-sector-will-lead-growth-in-five-years\/\",\"name\":\"Egypt\u2019s private sector will lead growth in five years - 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We were flies on the wall at the event, which acted\u2026","rel":"","context":"In &quot;ENTERPRISE ON THE ROAD&quot;","block_context":{"text":"ENTERPRISE ON THE ROAD","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-on-the-road\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/154.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546410,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/16\/madbouly-announces-plans-to-privatize-state-assets-boost-private-investment\/","url_meta":{"origin":560437,"position":2},"title":"Madbouly announces plans to privatize state assets + boost private investment","author":"enterpriseam admin","date":"16 May 2022","format":false,"excerpt":"Madbouly announces plans to privatize state assets + boost private investment: Prime Minister Moustafa Madbouly outlined the government\u2019s plans to privatize state-owned assets and increase the private sector\u2019s role in the economy yesterday in a wide-ranging address that underlined the economic damage being done to Egypt by Russia\u2019s war in\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/184.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":629714,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/07\/more-private-sector-involvement-industrial-development-and-transparency-on-the-new-cabinets-agenda\/","url_meta":{"origin":560437,"position":3},"title":"More private sector involvement, industrial development, and transparency on the new cabinet\u2019s agenda","author":"enterpriseam admin","date":"7 July 2024","format":false,"excerpt":"The state wants to build up the Egyptian citizen by prioritizing healthcare, education, and culture","rel":"","context":"In &quot;Cabinet watch&quot;","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/448.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547048,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/07\/finmin-sfe-get-the-ball-rolling-on-stake-sale-program-interest-from-saudis-pif-looks-serious\/","url_meta":{"origin":560437,"position":4},"title":"FinMin, SFE get the ball rolling on stake sale program + interest from Saudi\u2019s PIF looks serious","author":"enterpriseam admin","date":"7 June 2022","format":false,"excerpt":"Madbouly calls on FinMin to get the ball rolling on state privatization program: Prime Minister Moustafa Madbouly has directed the Finance Ministry to update its plan for the state privatization program. 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