Institutions to be relocated

Prime Minister Sherif Ismail said Saturday that most of the governmental institutions would be relocated in the New Administrative Capital by the end of 2018.

The New Administrative Capital is a typical and non-traditional solution for many problems in Cairo, Ismail said.

He said that land lots would be offered for investors who planned to carry out residential and administrative projects, which would create more jobs.

The participation of the private sector in the infrastructure projects created a kind of balance among the country, citizen, and the investor, Ismail said, adding the government would take the responsibility of carrying out the infrastructure in the railway sector.

In the meantime, the premier said the production capacity from Zohr gas field would hit 500 million cubic feet by the end of 2017.

Egypt is prepared for attract investments in different fields, citing an increase 14 percent in the investments.

The current state budget is the largest in history, said Ismail, as it amounted to EGP 1.2 trillion while the GDP hit EGP 4.2 trillion.

Source MENA