Cairo: Prime Minister Moustafa Madbouly said the launch of the ‘The Spine’ project at this time sends a strong message that Egypt remains a safe and stable investment destination despite ongoing global and regional uncertainties.

According to State Information Service Egypt, Madbouly stressed that the project’s investments, which exceed EGP1.4 trillion, reflect strong confidence in Egypt’s economic potential and its ability to generate high returns. The premier described the project as a major leap in urban development and economic growth, noting that it will create more than 155,000 jobs and generate tax revenues exceeding EGP 800 billion, while positioning Egypt among countries developing major financial, commercial, and administrative hubs.

He added that the state continues to attract global investment across multiple sectors, including projects in the Suez Canal Economic Zone, as well as upcoming major industrial openings. Madbouly concluded that Egypt’s proactive economic measures have enabled it to withstand global geopolitical challenges and expressed hope for more large-scale projects to support sustainable development and strengthen Egypt’s position as a regional and global investment hub.