The Egyptian Cabinet, in a statement shared on Facebook, announced its approval on Thursday for what is hailed as “the largest direct investment deal,” undertaken in partnership with various conglomerates.
Prime Minister Moustafa Madbouly conveyed that specific details concerning this significant agreement would be disclosed during the signing ceremony. The endorsement of this new venture aligns with the nation’s continuous endeavors to draw foreign direct investments, ensuring a steady influx of hard currency.
The forthcoming deal is poised to initiate several large-scale projects, anticipated to generate hundreds of thousands of employment opportunities, as highlighted by Prime Minister Madbouly. Additionally, these mega-projects are expected to play a pivotal role in stabilizing foreign exchange rates, aligning with the state’s objectives for urban development.
