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Finance Ministry to propose 8 projects worth EGP 10bn in partnership with private sector: Dimian - Daily News Egypt

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Finance Ministry to propose 8 projects worth EGP 10bn in partnership with private sector: Dimian

Private sector implementation of project will increase economic growth rate the next period


Minister of Finance Hany Kadry Dimian  (Photo courtesy of the American Chamber)
Minister of Finance Hany Kadry Dimian
(Photo courtesy of the American Chamber)

The Ministry of Finance intends to propose eight projects in partnership with the private sector with investments of EGP 10bn, according to Minister of Finance Hany Kadry Dimian.

Dimian told Daily News Egypt that the projects are focused on many sectors of the Land Register mechanisation, water plants and drainage.

According to Dimian, reforms done by the government last period will push the growth rates to reach 4% by the end of the current fiscal year (FY) 2014/2015.

“Contracts of $12bn were signed with British Petroleum, as well as contract for the Golden Triangle in Upper Egypt,” the Finance Minister said, adding that decreasing sales tax on capital goods from 10% to 5% will push forward the industry’s growth rate.

‏President Abdel Fattah Al-Sisi had issued on Thursday the Unified Investment Law.

Minister of Investment Ashraf Salman said that the law provides incentives to industrial sectors and geographical areas.

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