In presence of the Minister of Investment and International Cooperation Dr. Sahar Nasr, Prime Minister Sherif Ismail met today with the Executive Director of the World Bank (WB) Mr. Merza Hassan.
At the beginning of the meeting, the PM stated that the government took several serious decisions and economic procedures at a critical time such as the liberalization of the exchange rate and the development of the social protection and support systems, besides issuing a set of laws that would contribute to providing an attractive climate for local and foreign investments. Eng. Ismail also indicated that such procedures and decisions would pay off soon.
The government sought to overcome problems relating to the improvement of the work system in some of the state's sectors that were not working economically, added the PM. He pointed out that although the Egyptian economy went through extremely difficult circumstances as a result of the developments that took place since 2011, it achieved a growth rate of 4.3% last year despite of the adverse effects on the tourism sector during this time.
Further, Eng. Ismail reiterated his determination to maintain the implementation of an integrated reform system in various fields, while noting the government's keenness on improving the investment climate and providing the necessary infrastructure, including various energy sources, the road networks and relevant utilities. He also referred to the government's interest in overcoming all obstacles and problems that may face investors and noted a set of incentives and facilitations guaranteed by the Investment Law to be approved soon.
For his part, Mr. Hassan emphasized Keenness of the WB, being one of Egypt's key partners, on supporting the Egyptian government's efforts to achieve sustainable development in various sectors. He also commended the brave steps and decisions taken by the state and its determination to proceed with the reform procedures, while referring to Egypt's great investment potentials and to the private sector's significant role in the various development processes.