New investment projects to create jobs, reduce unemployment, says minister

The government has devised a strategic plan aimed at creating new jobs and reducing the unemployment rate, which Minister of Investment Osama Saleh claims currently stands at 12.7 percent, Saleh said during a meeting with the Egyptian-Lebanese Businessmen Friendship Association on Thursday.

Saleh also said that eight multinational corporations have applied to invest in the port of East Port Said and the Silicon Valley project in Ismailia.

“We signed contracts for US$1.5 billion for projects northwest of the Gulf of Suez that would provide 40,000 job opportunities,” the minister said. “And we will concentrate on small and medium enterprises.”

He also described projected public-private partnership projects valued at US$8 billion.

Edited translation from Al-Masry Al-Youm

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