Hani Sarin El-Din, chairman of the Senate Economic Committee and former chairman of the Capital Market Authority, stated that private sector investments are the only way for countries to deliver a million job opportunities while maintaining growth rates of at least 7% in the upcoming years.
While the increase in government investments to reach 85% of the total volume of investments is not a bad thing, the issue is that the size of the private sector investments has not increased, “Sri El-Din” added during press statements in the session “the opportunity to agree international financing to support the private sector” on the sidelines of the economic conference Egypt 2022. They must be balanced in order to meet the government’s economic objectives, which include creating possibilities for young people to find work, lowering unemployment rates, and increasing assistance. These objectives can only be met by bolstering private sector investments.
With regard to the high budget deficit and external debt burdens, “Sri El-Din” stated that in order to maintain the continuation of the basic structure projects and not stop them, it is necessary to increase private sector participation in financing these projects, particularly the completion of its implementation by taking over the private sector by operating it through the partnership system “PPP” which the government had previously done in many successful projects.
The private sector has trouble acquiring direct financing from investment funds, hence “Sri” suggested that interaction with foreign organisations needs to be improved.
Sri El-Din: Only in collaboration with the private sector will the state’s economic goals be attained.
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