Egyptian Prime Minister Moustafa Madbouli has stressed that the state is keen to boost partnerships and encourage the private sector to play a leading role on propelling the national economy.
The premier’s remarks came on Thursday during the inspection of the final works of first phase of Badya city project, which is carried out in partnership between the Housing Ministry and Palm Hills Developments in 6th of October city.
Madbouli, who was accompanied by the ministers of sports and youth, housing, utilities and urban communities, and education and technical education and Giza governor Ahmed Rashed, was received by Palm Hills chairman Yasseen Mansour and a host of respective officials.
The project reflects fruitful partnership between the state and the private sector to create further value added for projects aiming to serve youth, the premier reiterated, noting that the state is always ready for offering all possible facilitations to attract more PPP-based investments.
The premier inspected a number of housing units of the project, lauding the high quality of design and implementation of the units under the best standards.
The housing minister said this project aims to lure major investors to invest in the new cities and urban communities under the PPP system to enforce the directives of President Abdel Fattah El Sisi on creating more flexible and simple climate for the investors.
For his part, Mansour briefed the premier on the project, reviewing Palm Hills’ plans on developing the remaining phases of the project.
Palm Hills spent EGP12 billion investments for the first phase, creating some 2,000 job opportunities in different fields as well as hundreds of indirect job opportunities, Mansour added.