Life expectancy has risen to 78 years by 2021 from 44 in 1960 and projected to exceed 80 by 2050 while the pension system will run out of money by 2035
President al Sisi has trumpeted a roadmap of vital infrastructure projects geared to re-engineer a struggling economy, which has attracted investor attention near and far.
Building confidence
Since being sworn into office in 2014, Egypt's President Abdel Fattah Al Sisi has trumpeted a roadmap of vital infrastructure projects geared to re-engineer a struggling economy, which has attracted investor attention near and far.
President Al Sisi's crowning moment came last August when world leaders descended for the inauguration of the $8.5-billion expansion of the Suez Canal, a project the government says will increase revenue up to $13.2 billion annually by 2023. Then there is the dream to build a "New Cairo", which has now gathered confidence following backing by state-owned China State Construction Engineering Corporation. A host of other mega-infrastructure projects are to follow.
Skeptics have had their say, calling these national projects "wishful thinking". Yet, the world's largest Arab nation and now Africa's second largest economy is clearly too big to ignore for Gulf investors, who have committed to remaining in Egypt through the thick and thin.
Life expectancy has risen to 78 years by 2021 from 44 in 1960 and projected to exceed 80 by 2050 while the pension system will run out of money by 2035
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