H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, met with Mr. Hassan El-Khatib, Minister of Investment and Foreign Trade, to discuss several shared agenda items

H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, met with Mr. Hassan El-Khatib, Minister of Investment and Foreign Trade, to discuss several shared agenda items

 

Both ministers emphasized the importance of coordination and collaborative efforts to achieve the economic objectives of the government program and to build a competitive economy attractive to investments.

Progress on developing a strategy to promote direct foreign investment, currently underway in collaboration with the World Bank Group.

Dr. Al-Mashat highlighted intensive coordination with relevant ministries and authorities to agree on investment spending priorities aimed at enhancing the efficiency of public investments and facilitating greater involvement of the private sector.

Minister El-Khatib noted ongoing efforts to enhance the investment environment and increase the competitiveness of the Egyptian economy.

 

H.E. Dr. Rania A.  Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, received Mr. Hassan El-Khatib, Minister of Investment and Foreign Trade, to discuss a number of shared issues between the two ministries and the priorities for the upcoming phase, in light of the government's new program prioritizing domestic and foreign investments and regulating public investment expenditure to allow for greater private sector participation in the economy.

 

The two ministers discussed collaborative work, focusing on preparing a strategy to encourage direct foreign investment in cooperation with the World Bank Group, a crucial development partner for Egypt. They also discussed structural reform policies and measures being implemented with development partners such as the World Bank, the European Union, and the African Development Bank, emphasizing the importance of these programs in supporting overall economic stability.

 

They underscored the need for coordination and joint efforts to achieve the government's program objectives, enhancing a competitive economy attractive to investments and increasing the competitiveness of the Egyptian economy, thereby promoting comprehensive and sustainable growth, creating job opportunities, and meeting citizens' aspirations.

 

Furthermore, H.E. Minister Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, discussed with Minister of Investment and Foreign Trade the measures being taken to implement the Prime Minister's decision to set a ceiling for public investments during the current fiscal year, aiming to govern and enhance the efficiency of investment expenditure, while enabling the private sector to play a larger role in development through increased domestic and foreign investments.

 

H.E. Dr. Rania Al-Mashat reaffirmed that the current pivotal stage in the nation's development requires integration and coordination among various societal entities and institutions to meet aspirations and overcome challenges facing the state. H.E. Minister Al-Mashat highlighted the ministry's efforts to adopt a different approach towards improving the effectiveness of development plans, enhancing state efforts to provide easy financing for the private sector to stimulate foreign investments, and achieving integration with relevant ministries and entities in implementing the government's program.

 

H.E. Minister Al-Mashat added that the current period witnesses intensive and continuous coordination with various ministries and relevant bodies to prioritize investment spending for the upcoming phase, in compliance with the Cabinet's decision in this regard and giving priority to projects that have exceeded a 70% execution rate, while adhering to the specified investment ceiling.

 

Engineer Hassan El-Khatib confirmed that the cooperation between both sides during the upcoming phase will focus on improving the investment environment and enhancing the competitiveness of the Egyptian economy, in addition to coordinating with international partners and the private sector to expand productive and service sectors capable of generating dollar returns that contribute to the stability and development of the Egyptian economy.