The Egyptian cabinet announces the approval of a major investment deal that will provide hundreds of thousands of jobs and contribute to the economic recovery
The Cabinet announced at its meeting yesterday, headed by Dr. Mustafa Madbouly, its approval of the largest direct investment deal through an investment partnership with major entities, and stated that “the projects resulting from this deal will provide hundreds of thousands of jobs, and will contribute to economic recovery” this comes with the state’s quest to attract foreign direct investment and increase the state’s foreign exchange resources.
Madbouly explained that the details of this deal will be announced in full, with the signing of its agreements, pointing out that the government’s success in attracting huge foreign investments confirms the confidence of major investment entities in the Egyptian economy and its ability to overcome challenges.
Dr. Mustafa Madbouly stressed that this major investment deal, which is being carried out in partnership with major entities, achieves the state’s Development Goals, which are set by the national strategic plan for urban development, pointing out that this deal is the beginning of several investment deals, which the government is currently working on, to increase the state’s hard currency resources.
