Latest news with #RaniaAl-Mashat
CNBC
3 days ago
- Business
- CNBC
Ceasefire between Iran and Israel 'good news,' Egyptian minister says
The ceasefire between Iran and Israel is "good news" for the regional economy, Rania Al-Mashat, Egyptian minister of planning, economic development and international cooperation, tells CNBC's Dan Murphy from the World Economic Forum in Tianjin.
Al-Ahram Weekly
3 days ago
- Business
- Al-Ahram Weekly
Egypt courts Chinese investment in key sectors amid economic reform drive - Economy
Egypt seeks to deepen economic ties with China as it pushes for foreign investment to support a broad programme of structural reforms and infrastructure upgrades. Planning and International Cooperation Minister Rania Al-Mashat led a high-level meeting with senior Chinese business figures in Tianjin on the sidelines of the World Economic Forum. The talks focused on potential collaboration in sectors, including energy, digital infrastructure and logistics, under the 2014 Comprehensive Strategic Partnership between the two countries. The meeting, which was also attended by Investment and Foreign Trade Minister Hassan El-Khatib, included executives from Chinese firms operating in industries such as automotive, pharmaceuticals, and finance. Al-Mashat presented Egypt's reform agenda as an opportunity for joint investment, citing progress in trade facilitation, private-sector development, and legislative reform. She also pointed to Egypt's geographic position and network of trade agreements as incentives for businesses looking to expand in Africa, the Middle East or Europe. While Egypt and China have maintained diplomatic and economic ties for decades, Beijing's role in Africa and the Middle East has expanded markedly in recent years, particularly through its Belt and Road Initiative. During the meeting, Al-Mashat referenced Egypt's Vision 2030 strategy, which includes targets for sustainable growth and localization of key industries. She also reiterated the government's interest in partnerships that support green transition efforts. In 2023, Egypt and China signed a memorandum of understanding under China's Global Development Initiative (GDI) and their first debt-for-development swap agreement—tools intended to increase cooperation in technology transfer, research and development. The government is now working on a medium-term strategy to guide these efforts. However, specific outcomes or projects have yet to be announced. Follow us on: Facebook Instagram Whatsapp Short link:
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.
See - Sada Elbalad
7 days ago
- Business
- See - Sada Elbalad
Egypt Allocates EGP 7.3B for 180 Projects in Damietta
H-Tayea Minister of Planning Rania Al-Mashat announced that Damietta governorate will receive EGP 7.3 billion in public investments for 180 development projects under Egypt's 2024/2025 national plan, excluding projects under the 'Haya Karima' rural development initiative. The announcement came during the launch of the 'Citizen Investment Plan' report for Damietta, which outlines project allocations across sectors and reflects the government's commitment to local development and transparency. The report also covers Egypt's broader development strategy and performance indicators at the governorate level. Al-Mashat said 28 villages in Damietta are included in the first phase of 'Haya Karima,' benefiting 243,000 residents. The plan allocates EGP 3.1 billion to the transport sector, followed by EGP 828.6 million for housing, EGP 674.5 million for local development, EGP 535 million for healthcare, and EGP 431 million for pre-university education. Other sectors will receive EGP 1.66 billion. Projects include infrastructure work at Damietta Port, upgrades to sewage and water systems in Damietta New City, and the expansion of local health and education services. Health investments include building Faraskour Central Hospital, expanding Damietta Oncology Hospital, and developing the Damietta Cardiac Hospital. The education sector will see the construction and renovation of 414 classrooms. 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 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 News 3 Killed in Shooting Attack in Thailand
Egypt Today
19-06-2025
- Politics
- Egypt Today
PM Madbouly follows up on funding of ‘Haya Karima' initiative projects
CAIRO -19 June 2025: Prime Minister Mostafa Madbouly chaired a meeting on Thursday to review the funding status of projects under the presidential 'Haya Karima', Decent Life initiative. The meeting was attended by Minister of Planning, Economic Development and International Cooperation Rania Al-Mashat, Minister of Housing, Utilities and Urban Communities Sherif El-Sherbiny and several other senior officials. Cabinet Spokesperson Mohamed el Homsany said Madbouli closely followed up on the funding developments for the first phase of the initiative, which is set to conclude soon. He reaffirmed ongoing coordination with relevant ministers and authorities to monitor the implementation of the initiative as one of the country's most significant presidential development programs that aims to improve the living standards of millions of rural citizens through the provision of modern infrastructure, integrated social services, and sustainable job opportunities. The meeting also reviewed progress on projects in the first phase and preparations for the launch of the second phase of the initiative. The discussions included an overview of investment allocations for key national programs, including the 'Building the Egyptian Citizen' program and targeted investment in Upper Egypt. The meeting also addressed improvements in public service indicators such as sanitation, drinking water, natural gas, and high-speed internet access in villages covered by the initiative's first phase.
