Latest news with #NationalStructuralReformsProgramme
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.
