Finance Minister Mohamed Maait said on Friday that industrial and agricultural investment top the presidential priorities to achieve food security for Egypt, noting the country is on the path to increasing local crops production, reducing dependency on imports, and enhancing exports.

Maait’s remarks came during his meeting with CEO of the Arab Bankers Association George Kanaan, Chairman of International at Bank of New York Mellon Corporation Hani Kablawi, Deputy Chairperson and Chief Executive Officer of HSBC Egypt Todd Wilcox, and BEBA Chairman Khaled Nosseir.

Maait pointed out that the Finance Ministry is ready for a new set of incentives for new and green industries, citing the IMF’s vision that Egypt’s economy can recover from the current crisis’s consequences.

The minister underlined that the talks on a new program with IMF are going well, expecting that the new program would last for three years without any burdens on the citizens.

He stressed the country’s keenness to increase the private sector’s participation to more than 50% of Egypt’s GDP within three years.

Source: State Information Service Egypt