By Fawaz Karamy and Nasser Al-Shalaby
KUWAIT, Oct 4 (KUNA) -- Egypt's economy grew up by 4.2 percent at the end of Fiscal Year ended last June and unemployment rate declined by 12.8 percent, said Minister of Planning Ashraf Al-Araby.
Egypt is planning to be amongst top 30 economies all over the world by 2030, Al-Araby told KUNA in an interview Sunday on the sidelines of a meeting with Director General of the Arab Planning Institute Dr. Bader Malallah.
Al-Araby added his country is working for achieving an earlier growth rate of 8 percent in order to improve the standards of living of citizens.
He sees that the growth of 4.2 percent is an "important achievement", stressing the country's keenness on curbing the unemployment rates through launching major national projects and supporting small and medium-sized enterprises.
Egypt has launched a number of major projects aimed to attract manpower in the long run like the expansion of Suez Canal inaugurated last August, the administrative capital, development of Suez Canal area and others, he made clear.
The Egyptian official pointed out that the government has started the creation of some business incubators to promote the economic growth and create jobs, adding some companies have been formed to finance these incubators like Ayady.
The company, he stated, will provide training, feasibility studies, create opportunities to young entrepreneurs.
He affirmed the creation of several incubators in some areas in Cairo and Damietta governorates.
He further said that one of major projects in the country is the development of about 1.5 million feddans of land, adding the project aims to establish a new Egyptian countryside and integrated urban communities that include agricultural activities and education, health and transport projects.
He said that by the end of next December the last phase of the country's roadmap will be achieved and this will be in favor of the implementation of several ambitious economic plans and comprehensive programs of economic reform.
He revealed that the government will announce next month the sustainable development strategy: Egypt's vision 2030 and planning reform that was announced by President Abdelfattah Al-Sisi during his speech before the United Nations General Assembly last week.
He said that the plan includes some axes in the areas of economy, health, energy and technologies as well as social justice and others.
Asked about his visit to Kuwait, Al-Araby said he discussed with Malallah means of promoting cooperation between the two sides in several fields. (end) fnk.nsh.ht.amh.hm