Latest news with #economic reform
Arab News
2 days ago
- Business
- Arab News
Egyptian PM directs government to prepare investment package for US firms
RIYADH: Egypt's prime minister has instructed his government to prepare a package of investment opportunities for US firms, aiming to strengthen bilateral relations. In a meeting with his Cabinet ministers, Mostafa Madbouly stated that several opportunities are available, particularly given the significant advantages offered by the country's government to foreign investors, according to Egypt's State Information Service. Egypt is intensifying efforts to attract foreign direct investment as part of its broader economic reform agenda and Vision 2030 strategy for sustainable development. Amid global headwinds and domestic economic challenges, the Egyptian government has launched several initiatives to deepen economic partnerships with major international players, notably the US. One key milestone in this effort was the US–Egypt Policy Leaders Forum 2025, held in May, at which Madbouly announced that over 1,800 US companies are currently operating in the country, generating $47 billion in investments over the past two decades. Discussing the latest Cabinet meeting, the Egyptian State Information Service reported that Madbouly 'highlighted the government's interest in supporting Egyptian-US relations in light of the strategic and historical ties between the two sides, noting the many opportunities for cooperation that could be exploited to support joint collaboration.' The Egyptian prime minister added that his government is keen to remove all obstacles to joint cooperation, as well as to propose specific projects that will be discussed for collaboration in the upcoming period. During the gathering, Egypt's Minister of Industry and Transport, Kamel Al-Wazir, reviewed investment opportunities presented to US companies in sectors such as ports, maritime transport, and industrial zones. Minister of Planning, Economic Development, and International Cooperation Rania El-Mashat outlined Egypt's development cooperation efforts with the US, highlighting successful collaborative programs that contribute to the country's development and further strengthen relations between the two sides. At the conclusion of the meeting, Madbouly instructed all relevant authorities to coordinate on preparing a set of promising investment opportunities and to ensure they are presented to US companies, to boost foreign direct investment in Egypt. Egypt, Germany in talks for €100m debt swap deal International Cooperation Minister Rania Al-Mashat spoke at a joint press conference in Cairo with Foreign Minister Badr Abdelatty and Germany's Minister for Economic Cooperation and Development Reem Alabali-Radovan. State Information Service In another major development, Al-Mashat announced that the country is in talks with Germany over a new debt swap agreement worth €100 million ($116.48 million), to be disbursed in two tranches. The first tranche is expected in December 2025 and the second in June 2026, according to the north African country's State Information Service. 'These negotiations reflect the strength of Egyptian-German development cooperation and shared priorities in supporting sustainable development projects,' said Al-Mashat. According to Egypt's Ministry of International Cooperation, the total value of debt swaps between Egypt and Germany would reach €340 million with this new agreement.
Zawya
2 days ago
- Business
- Zawya
Saudi finance minister calls for urgent reform of global trade system at G20 summit
CAPE TOWN — Saudi Finance Minister Mohammed Al-Jadaan emphasized the urgent need to accelerate reform of the global trade system in response to shifting economic realities, during the third G20 Finance Ministers and Central Bank Governors Meeting held under South Africa's presidency on July 17–18. 'The fiscal space is shrinking at a time when financing needs are growing, leading to higher borrowing costs and mounting pressure on both governments and the private sector,' Al-Jadaan said during his address. He welcomed the G20 note on lessons learned from the Common Framework cases and the accompanying debt treatment steps document, noting their importance in strengthening transparency and predictability. He also stressed the need to continue supporting countries facing financial stress or short-term liquidity challenges. On the sidelines of the G20 meetings, Al-Jadaan held bilateral talks with several finance ministers to discuss global economic developments and topics of mutual interest. The meeting, hosted in KwaZulu-Natal, South Africa, brought together G20 finance ministers, central bank governors, invited country representatives, and heads of international and regional financial institutions. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
ABC News
15-07-2025
- Business
- ABC News
Productivity, productivity, productivity
ABC's chief business correspondent Ian Verrender explains why the government is working hard to kickstart a broad conversation about boosting productivity as part of its larger plan for economic reform.
