Ministry of Planning Participates in Foreign Investment Project Meeting

The Ministry of Planning and Economic Development, represented by Dr. Heba Youssef, Director of the Country Program Monitoring Unit at the Ministry, participated in the second meeting of the Working Group on the Foreign Direct Investment Project in Egypt, prepared by the Organisation for Economic Co-operation and Development (OECD-MENA), with the participation of Dr. Iman Mansour, Head of Investment Policies Sector and Director of the Investor Dispute Settlement Center at the General Authority for Investment and Free Zones.

Dr. Heba Youssef emphasized the importance of regional and international cooperation, pointing to the efforts of the OECD-MENA initiative to enhance trade and investment flows in the region. She highlighted the principles and tools used by the organization to review the characteristics of foreign direct investment, aiming to measure its impact on sustainable development goals and to develop the institutional and legislative framework supporting the positive impact of foreign direct investment on sustainable development dimensions, including gender equality promotion, economic empowerment of women, enhancement of links between small and medium-sized enterprises, increased productivity, and innovation.

Youssef also affirmed the project’s alignment with the Egyptian state’s goals and national efforts to attract more investments and increase private sector participation in economic activities within the framework of state policy.

During her speech, Dr. Iman Mansour discussed the importance of sustainable investments in achieving comprehensive and sustainable economic growth in line with Egypt’s Vision 2030. She emphasized the national efforts recently undertaken to create a conducive environment for investment attraction and innovation through simplifying procedures and addressing any challenges investors may face. Additionally, Mansour stressed the importance of supporting entrepreneurship and enhancing links between foreign direct investment and small and medium-sized enterprises as a mechanism for knowledge transfer, noting the role of the General Authority for Investment and Free Zones in providing essential data to investors and stakeholders for evidence-based policy formulation.

The organization’s expert team presented preliminary results from their analysis, indicating that foreign direct investment contributes to supporting and enhancing forward and backward linkages with the small and medium-sized enterprises sector. The results also highlighted the importance of foreign direct investment as a driver for increasing economic diversity, promoting innovation, technological advancement, and knowledge transfer to local companies, thereby enhancing productivity. The organization’s team also provided a comprehensive analysis of the impact of foreign direct investment on gender equality and women’s economic empowerment in Egypt, emphasizing the pivotal role of foreign direct investment in creating decent jobs and increasing women’s participation in the labor market.

Various government entities related to foreign direct investment, entrepreneurship, and innovation participated in the meeting, including the Small and Medium Enterprise Development Agency, the National Council for Women, the General Authority for Industrial Development, the Information Technology Industry Development Authority, the Entrepreneurship and Technology Innovation Center, the Industry Modernization Center, the Export Development Authority, and the Central Agency for Public Mobilization and Statistics.

It is worth mentioning that the Foreign Direct Investment Characteristics Project in Egypt is part of the Organisation for Economic Co-operation and Development’s initiative to promote investment and trade in the Middle East and North Africa region. It aims to provide a policy package to enhance the impact of foreign direct investment on sustainable development goals by focusing on dimensions related to creating decent job opportunities, enhancing women’s participation in the labor market, improving productivity and innovation, and developing skills.