The private sector plays an essential role, alongside the government, in Egypt’s sustainable development and economic growth, according to Hala El-Said, Minister of Planning and Economic Development.
The minister’s remarks were delivered on her behalf by Deputy Minister of Planning and Economic Development for Planning Affairs, Ahmed Kamali, at a ceremony honouring companies and traders who have taken part in the presidential initiative to provide consumers with goods at lower costs.
In the speech, El-Said said that the Egyptian government has undertaken considering effort in governing and implementing the initiative. This has taken place with the participation of government agencies, represented by the Ministries of Finance, Planning and Economic Development, Supply and Internal Trade, as well as the Consumer Protection Agency (CPA).
El-Said underlined the importance of cooperation between these parties in designing and implementing the initiative, and that this participatory approach is not new to the Egyptian government.
She added that the country’s private sector also took part in the initiative, given its important role as a partner in development.
The minister said the initiative focused on Egyptian products as one of the most important criteria in calculating economic growth, with the largest component of consumption coming from the private sector.
El-Said said that it was for this reason that the government launched the initiative to boost private consumption, which represents about 80% of output and support for Egyptian products.
She said that supporting Egyptian products will increase consumption and investments, which is the most important element in economic growth.
El-Said asserted the importance of using technology and digital means in the initiative, which together contributed to its success.