The State Ownership Policy Document primarily aims to enhance economic growth rates in a way which meets Egyptians’ aspirations through increasing investment rate to hit between 25% and 30%, affirmed Prime Minister Mostafa Madbouli.

Madbouli, meanwhile, said that increasing investments will contribute to propelling economic growth rates between 7% and 9% in order to provide jobs.

Madbouli’s remarks came during his meeting Thursday at the New Administrative Capital (NAC), after President Abdel Fattah El Sisi approved the State Ownership Policy Document.

President Sisi’s approval to the document reflects the State’s keenness on restructuring the economy in favor of the private sector, added the premier during the meeting.

The State Ownership Policy Document contains comprehensive goals for the state’s future plans, and conveys a clear image of Egypt’s presence in different economic sectors in future years, he further said.

The document was first launched by Madbouli in May as part of a wide-scale plan to increase the participation of the private sector in the economic sphere. The strategy envisions more than doubling the private sector’s role in the economy to 65% over the next three years, and attracting USD 40 bn in investment by 2026.

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