Egypt: Prime Minister Lays Out Egypt's Plan for Economic Reform

Egypt's Prime Minister Ibrahim Mehleb laid out on Saturday the country's plan form economic reform, during the second day of Egypt's Economic Development Conference.

Addressing the attendees of the conference in the resort city of Sharm el-Sheikh, Mehleb said Egypt's plan depended on a set of factors, starting by political stability. Such stability, Mehleb said, was maintained by sticking to the roadmap announced following the ouster of Islamist President Mohamed Mursi in July 2013 following mass protests against his rule.

Egypt has already issued a new constitution in January 2014, elected a new president in June 2014 and is preparing to hold parliamentary elections, all in line with the roadmap, Mehleb said.

Giving a large space for the private sector to play a pivotal role in Egypt's economy and creating a special environment for investment are also among the steps taken to achieve economic reform, Mehleb said.

Ahead of the conference, Egypt's President Abdel Fattah al-Sisi reshuffled the cabinet, introducing a new ministry for technical education. Mehleb said the new ministry is among the steps taken to produce trained and eligible labour force. Developing Egypt's human capital is also among the country's economic reform plan.