Gov't, FECC probe achieving economic growth

Prime Minister Sherif Ismail said that the cabinet discussed with the Federation of Egyptian Chambers of Commerce (FECC) means of increasing investments, achieving economic growth and boosting cooperation between the government and the private sector.

They probed also coordination with the Central Bank of Egypt to deal with the increase of the dollar's exchange rate.

In statements following the initial public offering of the National Company for Investments in Sinai, the premier said that the government tackles the economic reforms from Egyptian perspective including the civil service law, noting that the program submitted to the International Monetary Fund (IMF) is totally Egyptian.

Concerning the initial public offers of the National Company for Investments, Ismail underlined that the diversity of the investors and resources can assist the firm in implementing the existing projects in the fields of mining, industry and logistic areas in partnership with the private sector.

The premier stressed that the National Company for Investments aims at developing Sinai, adding that the peninsula needs to be developed by the efforts of the Egyptians.

During the initial public offering of the company, Ismail delivered a speech on the occasion, then he listened to a detailed explanation about the firm and its activities, according to a statement issued by the cabinet's media office.

The prime minister affirmed that the venture embodies the attention paid by the Egyptian leadership, government and people to develop Sinai so as to benefit from its resources.

He further said that the government is keen on developing Sinai's infrastructure to fulfill the needs of its inhabitants and encourage businessmen to pump more investments.