Latest news with #EgyptVision2030
See - Sada Elbalad
4 days ago
- Business
- See - Sada Elbalad
Mashat: Egypt Committed to Sustainable, Private-Led Economic Growth
H-Tayea At the opening of the World Economic Forum (WEF) Annual Meetings in China, Egypt's Minister of Planning, Economic Development, and International Cooperation, Dr. Rania A. Al-Mashat, held a high-level meeting with WEF President and CEO Børge Brende to discuss global economic shifts, regional instability, and Egypt's ongoing reform efforts. The meeting was attended by Egypt's Minister of Investment and Foreign Trade, Eng. Hassan El-Khatib. Participating as a co-chair of this year's WEF meetings, Dr. Al-Mashat emphasized Egypt's commitment to economic transformation driven by the private sector and reinforced by international partnerships. She underscored the evolving collaboration between Egypt and the WEF, which she described as 'central to supporting structural reforms, enhancing economic resilience, and confronting global challenges.' With the Forum serving as the world's largest gathering of private sector leaders and investors, Egypt is positioning itself to fully leverage this platform to support national development priorities. Al-Mashat pointed to the flexibility and strength of the Egyptian economy in navigating successive global and regional shocks. She highlighted the government's three-year reform program, which focuses on macroeconomic stability, attracting foreign direct investment, boosting industrial development, and strengthening human capital. A key highlight was Egypt's preparation of a national economic narrative that integrates multiple strategic frameworks—including Egypt Vision 2030, the government's current program (2024/25–2026/27), the National Structural Reforms Programme, and the Integrated National Financing Strategy. The aim: to build a competitive, investment-friendly economy with inclusive, sustainable growth. Dr. Al-Mashat also presented Brende with a report titled 'Development Finance to Foster Private Sector-Led Growth and Jobs', which documents over $15.6 billion in development finance mobilized since 2020 to empower the private sector. She reaffirmed Egypt's determination to expand access to financing tools that enable the private sector to drive development. For his part, WEF President Brende praised Egypt's ongoing economic reforms and strategic direction, applauding the strength of the bilateral relationship and the government's dedication to macroeconomic stability. The meeting follows Brende's 2024 visit to Cairo, during which he met with President Abdel Fattah El-Sisi and Prime Minister Mostafa Madbouly, reinforcing the strategic nature of the Egypt-WEF partnership. Dr. Al-Mashat currently serves as co-chair of the WEF's MICEE (Mobilizing Investment for Clean Energy in Emerging Economies) and holds memberships in multiple WEF initiatives focused on economic resilience and inclusive growth. The discussions concluded with both sides reaffirming the importance of collaboration to address today's most pressing economic and geopolitical challenges and to shape a more resilient, inclusive, and sustainable global economy. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
Daily News Egypt
4 days ago
- Business
- Daily News Egypt
Egypt highlights economic reforms, resilience in WEF meeting
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.
Mid East Info
5 days ago
- Business
- Mid East Info
2025 Zhejiang (Egypt) International Engineering Exhibition Successfully Held - Middle East Business News and Information
'Shaping a Smart, Green Future with Zhejiang' From June 17th to 19th, 2025, the Zhejiang (Egypt) International Engineering Exhibition was successfully held in Hall 3 of the Cairo International Exhibition Center. Hosted by the Department of Commerce of Zhejiang Province and organized by the Zhejiang International Contractors Association and Hangzhou Boheng Business Exhibition Co., Ltd., the exhibition was held alongside the prominent 2025 Egypt Big 5 Construction Show. Zhejiang showcased its unified provincial image through a dedicated area featuring 10 enterprises, 15 representatives, and an exhibition space of 108 square meters. Participating companies included Yoking Pump Co., Ltd., Zhitao Electric Group Co., Ltd., Zhejiang Qiankai Electric Equipment Co., Ltd., and Hangzhou Fulltime Robotics Co., Ltd. Over three days, Zhejiang enterprises interacted with more than 920 professional merchants from 12 countries and regions, resulting in intended transaction amounts of $5.7 million. Strategically located at the crossroads of Asia, Africa, and Europe, Egypt plays a key role in the Belt and Road Initiative. In May 2024, China and Egypt signed the Cooperation Plan on Jointly Promoting the Construction of the Belt and Road Initiative, which defined key cooperation areas. This strengthened framework will deepen collaboration and fuel development. To diversify its economy, Egypt has initiated projects like 'Egypt Vision 2030,' the New Administrative Capital, and the Suez Canal Corridor—sectors with strong demand for construction and renewable energy. These developments open new avenues for Zhejiang enterprises to participate in Egypt's infrastructure upgrades. Zhejiang Province has been advancing its 'Sweet Potato Economy' strategy to upgrade the 'No. 1 Opening-Up Project.' In 2024, newly signed foreign contracting projects totaled $5.486 billion (up 11.57%), with a completed turnover of $7.995 billion (up 15.27%), ranking fourth nationwide in business scale. This Egyptian exhibition marked Zhejiang's first self-organized overseas event in 2025. Themed 'Shaping a Smart, Green Future with Zhejiang,' it underscored the province's capabilities in green technology and smart construction. Zhejiang will continue to leverage overseas exhibitions to help more enterprises expand globally, foster cooperation and technology exchange, and offer sustainable solutions to global engineering challenges.
Associated Press
6 days ago
- Business
- Associated Press
2025 Zhejiang (Egypt) International Engineering Exhibition Successfully Held
RIYADH, Saudi Arabia & CAIRO--(BUSINESS WIRE)--Jun 22, 2025-- From June 17th to 19th, 2025, the Zhejiang (Egypt) International Engineering Exhibition was successfully held in Hall 3 of the Cairo International Exhibition Center. Hosted by the Department of Commerce of Zhejiang Province and organized by the Zhejiang International Contractors Association and Hangzhou Boheng Business Exhibition Co., Ltd., the exhibition was held alongside the prominent 2025 Egypt Big 5 Construction Show. Zhejiang showcased its unified provincial image through a dedicated area featuring 10 enterprises, 15 representatives, and an exhibition space of 108 square meters. Participating companies included Yoking Pump Co., Ltd., Zhitao Electric Group Co., Ltd., Zhejiang Qiankai Electric Equipment Co., Ltd., and Hangzhou Fulltime Robotics Co., Ltd. Over three days, Zhejiang enterprises interacted with more than 920 professional merchants from 12 countries and regions, resulting in intended transaction amounts of $5.7 million. Strategically located at the crossroads of Asia, Africa, and Europe, Egypt plays a key role in the Belt and Road Initiative. In May 2024, China and Egypt signed the Cooperation Plan on Jointly Promoting the Construction of the Belt and Road Initiative, which defined key cooperation areas. This strengthened framework will deepen collaboration and fuel development. To diversify its economy, Egypt has initiated projects like 'Egypt Vision 2030,' the New Administrative Capital, and the Suez Canal Corridor—sectors with strong demand for construction and renewable energy. These developments open new avenues for Zhejiang enterprises to participate in Egypt's infrastructure upgrades. Zhejiang Province has been advancing its 'Sweet Potato Economy' strategy to upgrade the 'No. 1 Opening-Up Project.' In 2024, newly signed foreign contracting projects totaled $5.486 billion (up 11.57%), with a completed turnover of $7.995 billion (up 15.27%), ranking fourth nationwide in business scale. This Egyptian exhibition marked Zhejiang's first self-organized overseas event in 2025. Themed 'Shaping a Smart, Green Future with Zhejiang,' it underscored the province's capabilities in green technology and smart construction. Zhejiang will continue to leverage overseas exhibitions to help more enterprises expand globally, foster cooperation and technology exchange, and offer sustainable solutions to global engineering challenges. View source version on Media Contact:Xu Xiansheng | +86 159 58158737 KEYWORD: AFRICA CHINA EGYPT SAUDI ARABIA ASIA PACIFIC MIDDLE EAST INDUSTRY KEYWORD: MANUFACTURING ENGINEERING SOURCE: 2025 Zhejiang International Engineering Exhibition Copyright Business Wire 2025. PUB: 06/22/2025 12:00 AM/DISC: 06/21/2025 11:59 PM
Daily News Egypt
7 days ago
- Business
- Daily News Egypt
MSMEDA injects EGP 17.4bn into 900k women-led enterprises over past decade: CEO
Bassel Rahmy, CEO of the Micro, Small, and Medium Enterprise Development Agency (MSMEDA), announced that the agency has allocated EGP 17.4bn over the past 10 years to support women-led micro and small enterprises across Egypt. This funding has empowered around 900,000 projects and contributed to the creation of approximately 1.2 million job opportunities. Rahmy highlighted that 54% of the total funding—equivalent to EGP 9.4 billion—was channelled into projects located in Upper Egypt, border governorates, and other underserved areas most in need of development. He emphasised the agency's determination to double this financing in the coming period, in line with government efforts to enhance women's economic participation and unlock their potential as drivers of national growth. The announcement was made during the 'Women in SMEs' Conference, organised by the Women Entrepreneurs Club under the patronage of MSMEDA. The event gathered representatives from leading financial institutions, entrepreneurship support organisations, ambassadors, and distinguished female leaders from across various economic sectors. In his remarks, Rahmy reiterated MSMEDA's commitment to working in close coordination with government bodies, civil society organisations, and development partners to further empower women economically. He stressed the importance of supporting women not only in launching new enterprises, but also in expanding and developing existing ones across industrial and service-based sectors. This approach, he noted, aims to cultivate a new generation of pioneering women entrepreneurs who can contribute meaningfully to Egypt's economic transformation. Rahmy also underlined the significance of the agency's participation in such conferences, as they serve as platforms to exchange expertise, share successful models, and align with international best practices—particularly in relation to the SME sector and women's empowerment. These efforts, he said, are central to Egypt's development agenda and are fully aligned with Egypt Vision 2030 and the United Nations Sustainable Development Goals. During the event, Rahmy presented the full range of services MSMEDA offers to support entrepreneurs, including both financial and non-financial assistance. He noted the agency's ongoing efforts to expand the accessibility of its services across the country, especially for women and young people, by leveraging digital transformation tools and platforms. Mona Mourad, Founder and CEO of the Women Entrepreneurs Club, affirmed the Club's commitment to enhancing the capabilities of Egyptian women and enabling them to take the lead in medium and large-scale enterprises. She pointed to the conference's collaboration with the American University in Cairo's Centre for Entrepreneurship and Innovation and Alcatel-Lucent as a prime example of how public-private-academic partnerships can accelerate women's leadership in digital transformation and institutional growth. Mourad commended MSMEDA for its pivotal role in building the capacities of women across various economic activities, particularly by supporting productive, sustainable projects. She added that the agency's presence at the event reflects the growing synergy between state institutions and development actors, both local and international, in creating a thriving ecosystem for female entrepreneurship. In recognition of their success, Rahmy honoured several women who have built notable businesses with MSMEDA's support. Among them was Yasmin El-Sweifi, who owns a thriving restaurant chain in Cairo; Mona Sami, who founded a business producing educational and interactive toys; and Sherine Saleh, who established a manufacturing project for medical and cosmetic supplies. Their achievements, Rahmy said, are a testament to the transformative impact of targeted support and inclusive development policies.
