Privatization effort continues with sale of 10 companies every three month

The Advisor of the Ministry of Public Works Sector, Dr. Mokhtar Khatab, mentioned that the Egyptian government is committed to continuing the privatization process to its last phase. The government aims to privatize 10 companies every 3 months.

He added that the coming phase necessitates reaching an economic growth rate of 7%, and increasing the volume of investment to a rate between 30% and 35% of the gross national product, and reducing inflation to less than 4% a year. He stated that this could be achieved by increasing the national savings and attracting direct foreign investments.

Dr. Khatab clarified that there are national, regional and international challenges facing the Egyptian economy: on the national level increasing the growth rate and national savings, on the regional level establishing an Arab free trade zone, and on the international level facing the international economic groups like the NAFTA and the European Union.