Egyptian-Chinese rich developmental model creates numerous cooperation opportunities: Minister of Planning

The Egyptian Minister of Planning and Economic Development, Dr. Hala El-Said, hailed on Thursday 5/1/2023 the Egyptian-Chinese model's rich development, which provides many opportunities for cooperation and investment in the public and private sectors.
This came in a speech during her participation in the Egyptian-Chinese economic and investment forum under the title of "the future of economic and investment relations between Egypt and China”.
The forum was also attended by Trade and Industry Minister Ahmed Samir, Suez Canal Economic Zone Chairman Walid Gamal Eddin, General Authority for Investment and Free Zones (GAFI) Hossam Heiba, former Arab League secretary general and the Honorary Chairman of the Egyptian-Chinese Businessmen Association Amr Moussa, Chinese Ambassador in Cairo Liao Liqiang, Chairman of the Egypt-China Friendship Association Ahmed Waly and other officials and businessmen.
According to El-Said, the forum is a significant opportunity to enhance relations between Egypt and China.
She pointed out Egypt’s remarkable efforts to achieve sustainable development through Egypt’s 2030 vision.
She added that Egypt enjoys a diversified economy that managed to reach a growth rate of 5.6 percent despite recent international challenges.
El-Said stressed that Egypt enjoys a diversified economy, which, despite the mounting challenges, was able to achieve many positive indicators, including achieving a growth rate of 5.6 before the recent crises.
 
 
 
Al-Said reviewed the efforts of the Egyptian state to complete this development process by creating an attractive environment for domestic and foreign private investment, noting that the Egyptian development experience witnessed different paths, the first of which is the continuation of the stability of the Egyptian state through investment in infrastructure.
 
 
 
Al-Said continued the discussion on the axes of the reform plan, pointing to strengthening the capacity of the private economy, stressing the importance of the participation of the private sector as the main partner in the development process and the main operator of the labor force, as it contributes to the employment of 82% of the Egyptian workforce.
 
El-Said also referred to the modernization of the law on private sector participation with the state in infrastructure projects, to further facilitate the role of the private sector in those projects.
 
 
 El-Said also drew attention to the establishment of The Sovereign Fund of Egypt (TSFE) to be an invaluable investment arm for the state, to create a mechanism that the private sector can deal with, whether by maximizing the return on inefficiently exploited and unexploited state assets or by entering into a direct investment with the private sector.
 
The Minister of Planning added that we have more than 15 agreements, most of which are international and Egyptian alliances. These agreements are to make the economic zone the main producer of projects related to new and renewable energy and others related to water desalination. The sovereign fund works with a group of international institutions.
 
 
 
During her speech, El-Said referred to Egypt's hosting of the COP27 climate conference, pointing also to Egypt's success in issuing green bonds for the first time to finance urban projects, noting that the state's investment plan aims to increase green projects that contribute to the sustainability of resources and preserve them for future generations.