From Washington: H.E. Dr. Rania A. Al-Mashat Signs a Memorandum of Understanding with the OECD Secretary-General to Renew the Country Program Until 2025

 

From Washington: H.E. Dr. Rania A. Al-Mashat Signs a Memorandum of Understanding with the OECD Secretary-General to Renew the Country Program Until 2025

 

Minister of Planning, Economic Development, and International Cooperation:

 

OECD programs stimulate investment promotion policies and support the private sector in accordance with international standards

Monitoring the implementation of the recommendations from the first economic report to support macroeconomic stability

Launching a report to enhance productivity in the industrial sector in 2025

 

H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, signed a memorandum of understanding with Mr. Mathias Cormann, Secretary-General of the Organization for Economic Cooperation and Development (OECD), regarding the renewal of the OECD country program in Egypt, extending it until 2025 instead of 2024. This occurred during H.E.’s participation in the Annual Meetings of the World Bank Group in Washington.

 

The renewal of the country program reflects the ongoing cooperation between Egypt and the OECD to strengthen the existing partnership and support the government's development and structural reform efforts. This renewal confirms both parties' commitment to achieving the program's goals, which aim to enhance the state's capacity to formulate and implement structural reforms in line with international standards, thereby improving the business and investment environment and boosting confidence among local and international investors.

 

H.E. Dr. Rania Al-Mashat explained that the country program for Egypt represents a comprehensive framework for cooperation over three years, focusing on several strategic pillars aligned with the state’s priorities. These efforts complement the ongoing structural reforms being implemented in Egypt, centered around three main pillars: enhancing macroeconomic stability, improving the business environment, and supporting the green transition. The projects within the program align with the core objectives of the national structural reform program, reinforcing the integration between what is being implemented in cooperation with the organization and national priorities.

 

H.E. Minister Al-Mashat added that the pillars of the country program integrate with intensive efforts alongside development partners to implement policies and measures that support structural reform efforts and enhance the economy's competitiveness. The renewal of the memorandum of understanding contributes to the continuation of structural reforms and ensures the implementation of all recommendations and planned projects to support reforms in these critical areas.

 

Furthermore, 20 national entities are involved in the program's activities and benefit from its projects. The country program for Egypt with the OECD includes 35 projects across five main pillars: the first relates to inclusive and sustainable economic growth, the second addresses innovation and digital transformation, the third focuses on governance and anti-corruption, the fourth pertains to enhancing statistics, and the fifth is dedicated to sustainable development.

 

Since the program's signing, tangible results have been achieved, such as the launch of Egypt's first economic report, which includes numerous recommendations and actions currently being monitored for implementation with national entities to support macroeconomic stability, increase the efficiency of macroeconomic policies, enhance private sector participation in the economy, create suitable jobs, and support the green transition.

 

Additionally, the report on artificial intelligence review was launched, and its recommendations are being utilized in formulating the second phase of the national artificial intelligence strategy. Egypt has also been included in the OECD's digital transformation tools, which supports the development of evidence-based policies that enhance the digital transformation process. Moreover, a review report on green growth policies has been launched to direct efforts towards an environmentally and socially sustainable economy.

 

Current efforts are underway to complete a series of important projects, such as the report on enhancing productivity in the industrial sector, a review of higher education and innovation policies, and Egypt's inclusion in the value-added trade database. The first technical report on business dynamics is set to be launched in the first half of 2025, further supporting ongoing reforms and economic development.

 

The renewal of the memorandum of understanding ensures the continuity of this fruitful cooperation between Egypt and the OECD, enhancing the path towards reform and sustainable development and advancing the achievement of national goals in line with a comprehensive vision that aligns with best international practices.