Ahmed Rostom, Minister of Planning and Economic Development, said on Monday that the government adopted an economic and social development plan for the 2026/27 fiscal year that targets increasing the private sector’s share of total investment to around 59%. Rostom made the remarks during the launch of L’Oréal Egypt’s Economic and Social Impact Study, held under the patronage of Prime Minister Mostafa Madbouly. The event was attended by Khaled Hashem, Minister of Industry; Éric Chevallier, French Ambassador to Egypt; and Mohamed El Araby, Chairperson of L’Oréal Egypt. In his speech, Rostom stressed the ministry’s commitment to supporting efforts to empower the private sector, increase private investment, and strengthen its contribution to achieving comprehensive development. He noted that strategic relations between Egypt and France have gained significant momentum in recent years, reflected in the growing investments of French companies in Egypt, including L’Oréal. These investments, he said, have created thousands of jobs and generated tangible added value for the Egyptian economy through exports to regional and international markets, in line with the government’s strategy to boost exports. The minister added that developing the industrial sector across all fields remains one of the state’s highest priorities. Accordingly, the government is committed to providing a package of incentives aimed at strengthening value chains, localising industry, and increasing local content. Rostom said the Egyptian market has developed a genuine partnership with L’Oréal through investments exceeding €100m, with more than 85% of the company’s total production destined for export markets. He also praised the company’s leading corporate social responsibility initiatives, particularly its partnerships with various institutions to support women’s health and empowerment, as well as its efforts to encourage women to pursue careers in technology and entrepreneurship. Rostom stressed the importance of strengthening partnerships with the private sector to provide further support for this vital segment, in line with the government’s strong focus on start-ups and the broader entrepreneurship ecosystem. He concluded by saying that the Ministry of Planning’s participation reflects the government’s broader vision of supporting the private sector and enhancing its contribution to the national economy. He added that the newly launched Economic and Social Impact Study demonstrates that successful investment partnerships are measured not only by their financial returns but also by their commitment to sustainability and adherence to environmental and social standards, helping to ensure a more sustainable future for both businesses and society.The post Private sector to account for 59% of total investment in FY2026/27: Planning minister first appeared on Dailynewsegypt.
