Planning Minister Elevates Egypt’s Presence at 27th BRICS Economic Forum, Showcases Investment Prospects and Collaborative Efforts

H.E.Dr. Hala El-Said, Minister of Planning and Economic Development, participated intensively in the 27th BRICS International Economic Forum titled "Transition to a Multipolar Global Economy" held in St. Petersburg, Russia, from June 5 to 8. Her participation included attending several sessions and holding a bilateral meeting on the sidelines of the forum to explore cooperation opportunities.

During the forum, Dr. Hala El-Said participated in a session titled "BRICS Expansion – New Opportunities for Economic Cooperation," where she highlighted investment opportunities in key sectors of Egypt and BRICS+ members. She explained that through enhancing trade missions, signed trade agreements of each member state, and incentives like infrastructure projects and sustainability, sectors such as fintech solutions, artificial intelligence, engineering products, and growing infrastructure projects, along with the semiconductor industry, are highly valued by the Egyptian business community. She noted that Egypt has a long history in manufacturing and electrical technology, with newly established industrial zones and economic cities like the Suez Canal Economic Zone.

Dr. Hala El-Said also took part in a session titled "Role of BRICS in Ensuring Global Food Security," where she pointed to the Egyptian government's efforts to ensure food and water security. She referred to the launch of the Food and Agriculture for Sustainable Transformation (FAST) initiative by the Ministry of Agriculture and Land Reclamation in collaboration with the Food and Agriculture Organization of the United Nations (FAO) during the 27th Conference of the Parties. Among the six pillars of Egypt’s national strategy for food security are horizontal expansion by adding new lands considering available resources, implementing modern agricultural practices, enhancing the competitiveness of agricultural exports, and boosting activities in livestock, poultry, and fish production.

In the session titled "Women Leadership in Investment," Dr. Hala El-Said reviewed the development of Egyptian women's participation in investment and entrepreneurship. She noted a significant increase in the representation of women on boards of directors, reaching 23.3% in 2023 compared to 19.7% in 2022. Maintaining this annual growth rate in women's board participation over the past three years is expected to help achieve the strategic goal of having 30% women on boards by 2026, in line with the objectives of Egypt’s Vision 2030.

Dr. Hala El-Said also engaged in a discussion session titled "Transformation for Global Growth: The Role of the Financial Sector in Achieving Strategic Development Goals." She stated that emerging markets and developing countries, like Egypt, face numerous challenges in financing their strategic development goals due to several factors, primarily the lack of financial cooperation and escalating geopolitical tensions. She added that the BRICS group has a new dynamic in developmental finance, characterized by its financial institution, the New Development Bank.

On the sidelines of the forum, Dr. Hala El-Said met with the Russian Minister of Economic Development, Maxim Reshetnikov, to discuss ways to enhance joint cooperation. During the meeting, El-Said emphasized the importance of bilateral cooperation in food security, as well as economic and social relations to build peace in the region and global economic prosperity in a multipolar world. She highlighted commonalities between the two countries regarding ministerial directives for economic development aligned with their strategic goals. El-Said pointed out that economic development has been included in the responsibilities of the Ministry of Planning since 2020 and mentioned the ministry's role in structural and social reforms as part of Egypt’s Vision 2030.