Minister of Planning Launches Green Growth Policy Review Report in Egypt

On behalf of Prime Minister Dr. Mostafa Madbouly, Dr. Hala El-Said, Minister of Planning and Economic Development, attended the launch event of the "Green Growth Policy Review in Egypt" report prepared by the Organization for Economic Co-operation and Development (OECD) under the Egypt Country Program. The event was attended by Dr. Yasmine Fouad, Minister of Environment, and Mathilde Mesnard, Deputy Director of the Environment Directorate at OECD, along with representatives from various ministries and sectors.

In her speech, Dr. Hala El-Said emphasized the significance of the event, highlighting the report as a key output of the Egypt Country Program in cooperation with OECD, which encompasses 35 collaborative projects under five main pillars: inclusive and sustainable economic growth, technology and innovation, governance and anti-corruption, statistics and monitoring, and sustainable development.

Dr. El-Said noted the launch of the Country Program in October 2021, following the signing of a Memorandum of Understanding by Prime Minister Dr. Mostafa Madbouly and OECD Secretary-General Mathias Cormann. She explained that the program, overseen by the Ministry of Planning and Economic Development, aims to support Egypt's priorities in achieving comprehensive and sustainable development in line with Egypt's Vision 2030 by providing technical assistance for formulating, implementing, and monitoring the National Structural Reform Program according to international standards.

Dr. El-Said highlighted recent tangible achievements within the program, such as the launch of Egypt's first economic report by OECD and the implementation of its recommendations following a defined timeline, based on directives from the Prime Minister. The Ministry of Planning and Economic Development continues to monitor the implementation of all recommendations and coordinates with OECD to provide the necessary technical support, thereby reinforcing the National Structural Reform Program.

The economic report offers recommendations to enhance Egypt's economic performance in crucial areas, including macroeconomic stability, improved fiscal and monetary policies, a better investment environment, increased private sector participation, labor market efficiency, and the transition to a green economy.

Dr. El-Said also mentioned the launch of the Country Review Report on Artificial Intelligence in Egypt, a significant output of Project 2.2 under the innovation and digital transformation pillar. This report serves as an effective tool for evidence-based policy formulation and supports the implementation of the second phase of the National Artificial Intelligence Strategy.

The Ministry is currently finalizing several important projects, including productivity enhancement in the industrial sector, higher education and innovation policy review, and Egypt's inclusion in the trade in value-added database, expected to be completed by the end of this year. Additionally, the first technical report on business dynamics review is slated for release in early 2025.

Discussing the green growth policy review, Dr. El-Said explained that the OECD report provides detailed insights and specific recommendations for enhancing Egypt's green transformation, with a special focus on sustainable smart cities. The report aligns with the fifth pillar of the Country Program, which aims to strengthen institutional mechanisms for achieving sustainable development goals, emphasizing the environmental dimension as a core objective of Egypt's Vision 2030.

Dr. El-Said highlighted Egypt's efforts to address emerging environmental challenges, aiming to accelerate the green transition through increased renewable energy share, energy efficiency, green hydrogen production, and decarbonization of manufacturing. She noted the gradual increase in green investments' share of total public investments from 15% in 2020-2021 to 40% in 2022-2023, with a target of 50% by 2024-2025. Egypt also aims to generate 42% of electricity from renewable sources by 2035 and produce 1.5 million tons of green hydrogen annually by 2030.

The preparation of this crucial report underscores Egypt's active participation and leadership role in the international community during the OECD's Environmental Performance Review Working Group. The Ministry of Environment's involvement and the commendations from OECD member states' ambassadors regarding Egypt's progress in environmental matters were also highlighted.

Dr. El-Said emphasized the critical role of international organizations, especially OECD, in fostering international cooperation by sharing expertise and best practices to support evidence-based policy formulation, thus accelerating the green transition and addressing environmental challenges collectively.

The ongoing collaboration between Egypt and OECD extends to other projects, including the clean energy investment financing project under the fifth pillar, supporting Egypt's vision to become a regional hub for green hydrogen production and export by leveraging renewable energy potential and increasing private sector investments in renewable energy.

Dr. El-Said praised the efforts of the OECD team, the Ministry of Environment, and all participating ministries and entities for their contributions to the report, which reflects the comprehensive national efforts in the environmental field. She underscored the importance of sustaining these efforts by relying on the report's recommendations and other Country Program projects to support structural reforms.