Egypt highlights economic reforms, resilience in WEF meeting

Daily News Egypt

4 days ago

Egypt's Minister of Planning and Economic Development, Rania Al-Mashat, has highlighted the country's economic reforms and resilience during a meeting with World Economic Forum (WEF) President Børge Brende in Tianjin, China.
The meeting, in which Minister of Investment and Foreign Trade Hassan El-Khatib also participated, took place at the opening of the WEF's meetings focused on resilient economic policies. Al-Mashat is a co-chair of the event.
The discussion addressed the impact of turbulent global and regional developments on the economic situation. It also covered the reactions of global markets, which were noted as having shown greater resilience than expected amidst economic disruptions and geopolitical tensions.
Al-Mashat said Egypt was moving forward with its economic transformation, led by the private sector. 'The Egyptian economy has demonstrated resilience in dealing with changes and the ability to withstand successive global and regional shocks,' she said.
The minister reviewed the measures being implemented by the government through its programme for the next three years. She said the programme aims to elevate the resilience and stability of the Egyptian economy, build a competitive economy attractive to investments, and continue implementing economic and structural reforms to create a sustainable growth model.
'We are moving forward with consistent steps towards economic transformation and growth led by the local and foreign private sector,' Al-Mashat stated.
She affirmed Egypt's commitment to continue with reforms to enhance the economy's ability to withstand regional and international transformations and geopolitical tensions.
Al-Mashat emphasised the importance of the partnership between Egypt and the WEF, which she said has seen remarkable progress. 'Our partnership with the World Economic Forum is continuously evolving to enhance economic transformation, support reforms, and confront global challenges,' she said.
'The WEF is the largest international gathering of private sector companies and investors… We seek to maximize the benefit from joint cooperation to support national priorities.'
The minister pointed to the preparation of a national narrative for economic development, which aims to promote policies supporting growth and employment. She noted this plan builds on the integration of several national strategies, including Egypt Vision 2030, the National Structural Reforms Programme, the State Ownership Policy Document, and the Unified General Planning and Finance Laws.
This strategy is based on four main pillars: macroeconomic and financial stability, mobilising foreign direct investment, enhancing industrial development and trade, and investing in human capital and the labour market.
During the meeting, Al-Mashat presented Brende with a copy of a report titled 'Development Finance to Foster Private Sector-Led Growth and Jobs.' The report reflects how international partnerships have provided over $15.6bn in financing from 2020 to May 2025 to empower the private sector in Egypt.
For his part, the WEF President expressed his appreciation for the strong relationship with Egypt and commended the Egyptian government's efforts in economic reform to enhance macroeconomic stability and address development challenges.
The meeting follows a visit by Brende to Egypt last November, during which he met with President Abdel Fattah Al-Sisi to discuss the partnership. In 2021, Egypt held a Strategic Dialogue with the WEF, led by Prime Minister Mostafa Madbouly, with the aim of attracting foreign investments.
Al-Mashat also co-chairs the Mobilizing Investment for Clean Energy in Emerging Economies (MICEE) initiative, launched by the WEF in 2024. She is a member of several other WEF bodies, including the Centre for the New Economy and Society, the Resilience Consortium, and the Future of Growth Initiative.