As part of the B.R.I.D.G.E Dialogue Series and with the participation of 85 representatives from private sector companies, export councils, and business associations, the Ministry of Planning, Economic Development, and International Cooperation presents the financial and investment opportunities available from British funding institutions for private sector companies

Dr. Rania Al-Mashat: The private sector is a key pillar in achieving economic development.

The government aims to create an investment environment that stimulates the growth and development of private sector companies.

Partnerships between international institutions and the private sector support efforts to bridge development gaps.

Continued dialogue is essential to closing the information gap between international partners and private sector institutions.

 

In the second session of the dialogue series organized by the Ministry of Planning, Economic Development, and International Cooperation under the title "Business Roundtable for Innovation, Development & Government Engagement," (BRIDGE) the Ministry hosted representatives from the UK’s British International Investment (BII) agency, UK Export Finance, the Egyptian-British Business Association, and the Egyptian-British Chamber of Commerce. The meeting was attended by around 85 representatives from private sector companies, export councils, and business associations. The event aimed to introduce private sector companies to opportunities to enhance trade and investment with the United Kingdom, as well as to present key financial mechanisms and initiatives from the participating institutions. The meeting also discussed initiatives related to promoting the green economy, in collaboration with the British Embassy.

 

During the event, the Minister of Planning, Economic Development, and International Cooperation explained that the purpose of the BRIDGE series is to enhance the private sector's contribution to economic development, showcase investment opportunities in priority sectors in Egypt, and promote integration between the government’s investment plans and the programs implemented by development partners. This is achieved by encouraging public-private partnerships, strengthening blended finance and developmental finance opportunities, providing grants to the private sector, and exploring opportunities in investment guarantees and corporate social responsibility.

 

H.E. Dr. Al-Mashat emphasized that the current Egyptian government strategy focuses on investment, empowering the private sector, and building a competitive economy capable of attracting investments. This also includes focusing on governance and improving the efficiency of investment spending, as part of the state’s efforts to open space for the private sector as a key driver of development. H.E. highlighted that the state aims to increase private sector participation in the economy by creating an investment-friendly environment and providing sufficient information about investment opportunities to enable the private sector to achieve its goals. This requires ongoing dialogue between the government and the private sector to identify available opportunities.

 

H.E. Minister Al-Mashat also stressed the importance of partnerships between international institutions and the private sector in bridging development gaps.

 

Mr. Tamer Taha, Advisor to the Minister for Innovation and Entrepreneurship and Head of the Private Sector Engagement Unit at the Ministry, presented the “Hub for Advisory, Finance and Investment for Enterprises”. The platform was launched to close the information gap and enhance the private sector’s ability to benefit from international development partners. The platform includes nearly 85 services, both financial and consultative, provided by 40 development partners and is updated regularly. It targets large, medium, small, and emerging private sector companies.

 

Ms. Sherine Shahdy, Regional Director of the British International Investment (BII) agency, explained that the institution has been investing for nearly 75 years in various markets in Africa and Southeast Asia. She noted that Egypt serves as the regional hub for North Africa and that the institution invests either directly by taking equity stakes or through financing, similar to international finance institutions. She emphasized that direct investment relies on increasing capital to ensure that funding supports economic growth for companies, often through long-term financing.

 

She added that the institution's investments across all the markets it covers amount to $10.5 billion, with annual investments ranging from $1.5 billion to $2 billion globally. In Egypt, the institution’s investments total approximately $850 million in more than 70 companies, creating over 91,000 job opportunities across various sectors. She stressed the collaboration between the institution and the private sector in Egypt to support growth plans that align with the Egyptian government’s efforts to open up space for private sector investment while simultaneously meeting international development goals.

 

Mr. Mohamed Saad, Head of the UK Export Finance Office for Egypt and Algeria, presented the activities of the UK Export Finance agency in Egypt and the region. He explained how the agency supports companies in enhancing their export capabilities through accessible and long-term financing mechanisms and guarantees. He highlighted the agency's role in strengthening relationships between UK businesses and the private sector in Egypt and its collaboration with banks and financial institutions to arrange joint financing. He confirmed the agency’s openness to strengthening its relationships with companies in Egypt, citing the successful partnerships it has already facilitated, including its support for the Cairo Monorail project.

 

In a separate discussion, representatives of the British Embassy pointed out that the trade exchange between Egypt and the United Kingdom amounted to £4.8 billion last year, with the UK remaining one of Egypt's largest foreign investors, particularly in sectors such as transport, water, and infrastructure.

 

The Embassy also highlighted its efforts to support trade and investment between the two countries, helping Egyptian and British companies expand their commercial networks and achieve sustainable growth through business events.

 

Additionally, the British Embassy showcased its initiatives to support climate change financing, including the Climate Finance Facility, which provides technical and financial support for low-carbon projects in Egypt to promote the green transition.

 

The meeting featured constructive discussions between private sector representatives about the available financial, investment, and trade opportunities provided by international financial institutions, as well as the services offered through the "HAFIZ" platform for financial and technical support to the private sector.

 

A large and diverse group of companies participated in the meeting, representing various developmental sectors such as telecommunications, information technology, education, waste recycling, engineering industries, business consulting, chemicals, electronics, and other fields.