Egypt's cabinet targets growth rates that achieve social justice and help with developing the country in a way that ensures benefiting the biggest number of citizens, Minister of Investment Osama Saleh said on Thursday.

The investment and employment initiative aims at developing the environment for investment and attracting Egyptian, Arab, and foreign capital as well as working on creating a fair distribution of investments in all governorates, Saleh said in a statement the Middle East News Agency (MENA) reported.

The initiative also targets pumping new investments into infrastructure and labour-intensive projects to help raise the quality of services provided to all citizens.

Around 40 percent of Egyptians live below poverty line with an income averaging two dollars a day per person.