Amr Hendi: Egypt has 10 ingredients to support the national economy and attract investors
The World Bank expected that Egypt's GDP growth rate would reach 4% during the current year 2023 and next 2024
Shrouq
Representative Amr Hendi, a member of the Economic Affairs Committee in the House of Representatives, said that Egypt possesses a number of ingredients that qualify it to support the economy file in accordance with the 2030 development vision.
He explained that Egypt can achieve $100 billion in exports, especially since the economy has become one of the vital files to get out of the economic crisis.
Hendi added that the 2030 strategy has set a number of foundations and standards for the advancement of the national economy.
He pointed out that periodic follow-up of what is happening on the ground must be conducted, especially since Egypt has elements that are not present in many countries, including, for example:
1- The strategic geographical location, as Egypt is considered one of the most important global trade corridors between East and West.
2- Human energy, because Egypt is one of the most populous countries in the Middle East, and its population is mostly young.
3- The large size of the consumer market is one of the resources that Egypt possesses.
4- Tourism components, as tourism is one of the most important sources of national income and foreign currency for the Egyptian economy.
5- The diversification of the Egyptian economy.
6- The availability of many real and sustainable investment opportunities.
7- The large amount of unused space, which is approximately 90%.
8- The resilience of the Egyptian economy in the face of crises.
9- Availability of renewable energy resources.
10- mineral wealth file.
All these ingredients contribute strongly to the prosperity of the economy during the coming period. Stressing that all these elements, if properly exploited, will lead to a strong formal economy.
The World Bank expects the growth of the Egyptian economy
In the other hand, The World Bank expected that Egypt's GDP growth rate would reach 4% during the current year 2023 and next 2024, indicating that these expectations reflect expectations of increasing the competitiveness of the Egyptian economy.
At the same time, the bank expected a slowdown in the gross domestic product of the Middle East and North Africa region to 3% in 2023, from 5.8% achieved in 2022.
