Nazif said that a new strategy would be adopted in the coming stage in order to lay more emphasis on the cultivation of strategic crops such as grains in order to achieve food security.

The presidential elections that will be held next year have not affected the investments flow, as the world believes in Egypt's seriousness when it comes to carrying political or economic reform, he told the concluding session on Wednesday of the Euromoney Egypt Conference titled "Competing for Investment, Investing in Competitiveness."

The government is working on stimulating the private sector to engage in infrastructure enterprises, such as water and power stations, through the public-private partnership (PPP), he said.

The most formidable challenge facing the government is raising the standard of living of impoverished people and reducing poverty rates in the country through improving social and health services, he said.

The government is seeking to increase non-oil exports, improve the quality of industrial products and upgrade rural areas, Nazif told the Euromoney conference.

Egypt will continue the economic reform process, which it started some four years ago, he said.

The Egyptian economy has become an integral part of the international economic system, meaning that it is affected either positively or negatively by global events, he added.

Global Arab Network