{"id":631998,"date":"2024-07-09T00:00:00","date_gmt":"2024-07-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/09\/madbouly-lays-out-the-new-egyptian-govts-priorities-for-the-next-three-years-in-policy-statement-to-the-house\/"},"modified":"2024-07-09T00:00:00","modified_gmt":"2024-07-09T00:00:00","slug":"madbouly-lays-out-the-new-egyptian-govts-priorities-for-the-next-three-years-in-policy-statement-to-the-house","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/09\/madbouly-lays-out-the-new-egyptian-govts-priorities-for-the-next-three-years-in-policy-statement-to-the-house\/","title":{"rendered":"Madbouly lays out the new Egyptian govt\u2019s priorities for the next three years in policy statement to the House"},"content":{"rendered":"

Laying out the new government\u2019s policy priorities: <\/strong>Prime Minister Moustafa Madbouly delivered his new government\u2019s policy statement to the House of Representatives yesterday and delivered a speech<\/a> to take MPs through the government\u2019s priorities. The 300-page long statement outlines the newly sworn-in government\u2019s agenda for the next three years under the theme Together We Build a Sustainable Future.<\/p>\n

Priorities, new and old: <\/strong>Madbouly outlined the new government\u2019s agenda over the next three years by outlining four key pillars that will guide them: building a competitive economy to attract investments, enhancing the livelihoods and welfare of Egyptians, achieving political stability and national unity, and safeguarding national security and foreign policy.<\/p>\n

Building a competitive economy: <\/strong>As part of the new government's efforts to push forward the nation\u2019s economy, the prime minister highlighted its targets to strengthen Egypt\u2019s economic foundations, promote private sector involvement, and tame inflation.<\/p>\n

Growth targets to get there: <\/strong>During the new government\u2019s first year, a target has been set to increase GDP growth to 4.2%, in line<\/a> with the budget for the fiscal year. The government has also penciled in an average of 5% growth throughout the entire three-year period.<\/p>\n

The private sector and FDI have an important role to play: <\/strong>Private investment should make up 60-65% of total investment by 2030 and Madbouly wants to increase FDI coming into the country by 14% every year.<\/p>\n

It\u2019s also certain industries\u2019 time to shine: <\/strong>The government aims to increase the contribution of the industrial, agricultural, communications, and information technology sectors to account for 38% of GDP by the fiscal year ending in 2027. Existing tourism targets will also play an important role, with the prime minister reiterating their commitment to increasing annual tourism numbers to 30 mn by 2028 \u2014 roughly twice the current amount. Madbouly also laid out a target to push annual export growth beyond 15% and to focus on pushing commodity, petroleum, and service exports.<\/p>\n

Better logistics will help make this possible:<\/strong> The government wants to turn Egypt into a global hub for logistics and trade by developing seven integrated international logistics corridors, completing the construction of 31 dry ports and logistics zones, expanding seaport berths to a total length of 100 km, and forming strategic partnerships with major global shipping players to increase the frequency of international ships docking at Egyptian ports.<\/p>\n

Increasing revenue and spending it more wisely is also part of the plan: <\/strong>On average, the government wants to increase public revenues by 16% every year until the fiscal year ending in 2027, while also being more efficient in the way the state uses public funds.<\/p>\n

Regional and gender employment disparities will also be addressed: <\/strong>By the fiscal year 2026-27, the new government wants to raise female labor force participation to 19%, while increasing employment rates to at least 37% in Upper Egypt and 45% in border governorates.<\/p>\n

Education, education, education: <\/strong>The new Madbouly government is giving priority to setting up new schools in densely populated and remote areas, with a particular emphasis on vocational education to equip students with the right skills for the job market. To do this, the government wants to build over 60 vocational schools in partnership with the private sector, add more Nile Egyptian International Schools and schools for gifted students, and add 100 new Japanese schools by 2026.<\/p>\n

What\u2019s next? <\/strong>House Deputy Speaker Ahmed Saadeddin will lead a parliamentary committee that will review the written policy statement, before putting it for a vote in the House within ten days. The House will reconvene on 21 July to discuss the committee\u2019s report on the statement and to hold a vote of confidence for the new government.<\/p>\n

ALSO- Madbouly will also be taking on the responsibilities as the minister for<\/strong> administrative reform affairs,<\/strong> after President Abdel Fattah El Sisi appointed him yesterday, according to the Official Gazette.<\/p>\n","protected":false},"excerpt":{"rendered":"

Madbouly outlined the new government\u2019s agenda over the next three years by outlining four key pillars that will guide them<\/p>\n","protected":false},"author":1,"featured_media":631999,"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":[7306],"tags":[7420,282,72,1350,281],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-631998","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cabinet-watch","tag-cabinet","tag-cabinet-watch","tag-enterpriseam","tag-madbouly-cabinet","tag-moustafa-madbouly","wpautop","entry"],"acf":{"mongo_id":"150370b7-8811-44e0-8b91-782cfb66541c","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/670.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Prime Minister Moustafa Madbouly lays out the new Egyptian government\u2019s priorities for the next three years in policy statement to the House","related_issue":[631993],"teaser":"Madbouly outlined the new government\u2019s agenda over the next three years by outlining four key pillars that will guide them","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.569a4ec4-8db3-4a0c-b590-e1abc1582637.mp3"},"yoast_head":"\nMadbouly lays out the new Egyptian govt\u2019s priorities for the next three years in policy statement to the House - 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