Egypt’s Minister of Planning and Economic Development meets Bangladesh‘s minister of state for foreign affairs

H.E. Dr. Hala El-Said, Minister of Planning and Economic Development, received on Monday a high-level official delegation from Bangladesh headed by Mr. Md. Shahriar Alam, Minister of State for Foreign Affairs. The meeting which aimed to discuss means of bilateral co-operation between the two countries witnessed the presence of Dr. Jamil Helmy, Assistant Minister of Planning for Follow-up Affairs of the Sustainable Development Plan, Ayman Soliman, Executive Director of The Sovereign Fund of Egypt (TSFE), Ambassador Hazem Khairat, Director of the International Cooperation Office, and Dr. Mohamed Alaa, Deputy Director of the International Cooperation Office.At the beginning of the meeting, Dr. Hala El-Said welcomed the delegation, noting that this visit reflects the close diplomatic relations between Egypt and Bangladesh.She further highlighted the meeting is considered an opportunity to discuss potential economic cooperation between the two countries.El-Said referred to the economic reform program launched by Egypt in 2016, noting that the success of this program contributed to alleviating the negative effects of the Covid-19 pandemic.El-Said explained that before the pandemic, Egypt was able to achieve a positive growth rate of 5.6% with low unemployment rates, stability in prices, and a decrease in the deficit, as well as, essentially, a relative decrease in the debt burden on the country.El-Said added that despite the repercussions of the pandemic, Egypt achieved a growth rate of 9% during the first half of the current fiscal year.The country has also invested heavily in its infrastructure over the past years, as nearly $400 billion has been invested in various infrastructure projects, electricity, railways, transportation routes, and others, according to El-Said.
Regarding the "Decent Life" initiative, El-Said said that it mainly aims to improve the quality of life for residents in rural villages in Egypt, noting that it is a continuation of the success achieved in the preliminary stage. The first phase of the initiative was launched within the framework of the national project for the development of the Egyptian countryside, targeting all villages in the Egyptian countryside (about 4,500 villages in which more than half of Egypt's population live - 58 million citizens).The Minister of Planning and Economic Development also indicated that Egypt is keen to participate in its voluntary national report on the implementation of the sustainable development goals in the high-level political forum at the United Nations.
 El-Said indicated that the third voluntary national report (3rd VNR) was submitted, which is always done through a participatory approach, with participation between the private sector, civil society, and the government.El-Said added that reports to localize the sustainable development goals were launched in all Egyptian governorates to determine the status of each governorate concerning achieving the sustainable development goals in it. About The Sovereign Fund of Egypt (TSFE), Dr. Hala El-Said said that it is one of the important tools established by the state to enhance the role of the private sector and provide various investment opportunities, intending to maximize the value and efficiency of state-owned assets. She referred to the state's efforts to create the environment for the private sector to play its active role, whether through the legislative or institutional framework that supports the partnership between the public and private sectors. El-Said referred to the new investment law and the law on small and medium-sized enterprises, stressing the importance of activating the role of the "Irada" initiative, which aims to reform the legislative and regulatory framework to ensure business stimulation and encourage investment.El-Said also referred to the role of the National Institute for Governance and Sustainable Development –(NIGSD) the training arm of the Ministry of Planning and Economic Development - and the various training programs it offers. Moreover, El-Said referred to the "Be an Ambassador" initiative to spread the idea of sustainability among young people, and the various programs aimed at empowering women, as well as the role of the Central Agency for Public Mobilization and Statistics (CAPMS).

For his part, the Minister of State for Foreign Affairs of Bangladesh indicated his country's aspiration for further cooperation with Egypt, reviewing the most important developments and successes that Bangladesh has reached at the level of economic reform in recent times.Meanwhile, Ayman Soliman, Executive Director of The Sovereign Fund of Egypt (TSFE), reviewed the tasks and work of TSFE, stressing that Egypt has promising elements, especially with the trend towards a green economy.Suleiman pointed to the importance of producing green hydrogen, and green ammonia, which are green fuels that can be used in the maritime and air transport sectors, which are among the sectors that contribute the most to pollution and carbon emissions.