Cairo: Prime Minister Moustafa Madbouly affirmed on Saturday, 18/4/2026, that the global project “The Spine” represents a real leap in the nature of urban development and economic growth in Egypt. During a press conference in the New Capital, the Premier explained that Egypt has successfully launched this international project amidst current geopolitical conflicts, with investments exceeding EGP 1.4 trillion.

According to State Information Service Egypt, Madbouly stated that the project is being implemented by a major Egyptian consortium in partnership with local financial institutions. He noted that it will create more than 155,000 direct and indirect job opportunities, in addition to generating tax revenues exceeding EGP 800 billion.

He emphasized that Egypt is a safe and stable country, possessing substantial investments that yield the highest possible economic returns. He highlighted that the country’s projects are not limited to urban development but extend across multiple sectors.

The Prime Minister further explained that “The Spine” project will place Egypt among countries that have invested heavily in establishing integrated centers encompassing administrative, commercial, financial, and entertainment functions.

Madbouly also noted that Egypt continues to attract significant investments from international companies, pointing out that the end of this week will witness the inauguration of a number of major projects in the Suez Canal Industrial Zone.

Madbouly referred to positive statements issued by global institutions praising Egypt’s success in taking proactive measures amidst an unprecedented geopolitical and economic crisis, noting that these early actions enabled the country to withstand and effectively respond to the challenges.