CAIRO – Egyptian Minister of Planning and Economic Development Hala el-Saeed affirmed the strategic importance of relations between Egypt and Iraq, highlighting the notable momentum and development recently witnessed in these relations.
The minister made the remarks during a meeting held on Thursday with Chairman of the Iraqi Securities Commission Hassan Hassani, and his accompanying delegation, to discuss prospects of future co-operation between both countries.
Saeed reviewed main tasks carried out by her ministry, pointing out to Decent Life initiative that is implemented to improve the quality of life in about 4,500 villages in the Egyptian countryside, where about 58 million citizens are living.
These villages are sought to be turned into developed sustainable rural communities in three years at a cost of about LE800 billion, she said.
She added that Egypt’s Sovereign Fund was developed due to the necessity of establishing a big economic entity capable of engaging in partnerships with domestic and international companies and institutions to create investment opportunities in the promising sectors and make the best use of the State’s assets and resources.
Meanwhile, the Iraqi official hailed the unprecedented development that Egypt is witnessing in various fields and the success of its economic reform program, saying that Iraq appreciates its fraternal bonds with Egypt.
He asserted Iraq’s keenness to engage in investment cooperation with Egypt’s Sovereign Fund.
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