Investment Minister Ashraf Salman said that the government depends by 75 percent on the private sector to push forward the wheel of growth.
The Egyptian economic reform program is based on the market mechanisms and the private sector to decrease budget deficit, increase revenues and achieve economic growth in the country.
The minister's remarks came during the 16th session of the Arab Business Owners and Investors Conference held under the rubric of “Investment in Egypt: Investment in the Future”.
Attending the event were more than 1,000 thousand businessmen, Arab and foreign investors as well as ministers and officials from Egypt and the Arab world.
Salman expected that economic growth to reach 3.5 percent during the current fiscal year.
The minister underlined the importance of amending current legislation organizing investments in Egypt so to attract Arab and foreign investors.