The Minister of Planning, Economic Development, and International Cooperation Signs a Letter of Intent with the World Economic Forum to Launch the "Egyptian Future of Growth Accelerator”

Launching a New Strategic Partnership in the Presence of Dr. Mostafa Madbouly, Prime Minister

 

The Minister of Planning, Economic Development, and International Cooperation Signs a Letter of Intent with the World Economic Forum to Launch the "Egyptian Future of Growth Accelerator”

 

  Al-Mashat: Leveraging the expertise of the World Economic Forum and its vast network of partners to support growth drivers in Egypt

  The Minister of Planning, Economic Development, and International Cooperation serves as Co-Chair of the Economic Growth and Development Accelerator

 Our new partnership with the World Economic Forum is the second after the "Closing the Gender Gap Accelerator" launched in 2020

    H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, signed a Letter of Intent with the World Economic Forum to launch the "Egyptian Future of Growth Accelerator” in the presence of Dr. Mostafa Madbouly, Prime Minister of Egypt, and Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum.

 

With the launch of the "Egyptian Future of Growth Accelerator”, Egypt joins the "Future of Growth" initiative, which the World Economic Forum launched in 2024. This step continues the efforts of the Ministry of Planning, Economic Development, and International Cooperation to strengthen its partnership with the World Economic Forum, marking a new strategic collaboration to advance this partnership.

 

Under the terms of the Letter of Intent, the "Egyptian Future of Growth Accelerator”, will be developed in Egypt to support the country’s economic development efforts, leveraging insights and ideas from the World Economic Forum’s Center for the New Economy and Society. The Letter of Intent also designates Dr. Rania Al-Mashat as Co-Chair of the accelerator.

 

H.E. Dr. Rania Al-Mashat emphasized that the new collaboration with the World Economic Forum reinforces the close partnership that has been developed in recent years, adding that the launch of the "Egyptian Future of Growth Accelerator”, allows Egypt to join an important initiative launched by the Forum last year to reshape global growth and support decision-makers in various countries in balancing both the quantity and quality of growth.

 

H.E. Minister Al-Mashat noted that the "Future of Growth Accelerators" initiative offers a multi-dimensional approach to enhance global growth, aligning each country’s priorities with global objectives. The initiative also provides data and analysis from a wide range of stakeholders across more than 100 economies, promoting integration, innovation, inclusion, and supporting efforts to exchange experiences and ideas to drive sustainable growth.

 

H.E. Dr. Al-Mashat highlighted that Egypt’s participation in the Growth Accelerators network brings together a wide range of institutions and stakeholders from the public and private sectors, CEOs, and representatives of civil society and academia. This network supports efforts to reshape growth, shape the future economy, map out growth drivers, set priorities, assess growth factors and challenges, and promote dialogue, analysis, and studies to unleash innovative growth opportunities.

 

H.E. Dr. Al-Mashat pointed out that the steps taken by the Egyptian government are aligned with the new phase of Egypt’s economy. The government, through its three-year program, is working to enhance the resilience and stability of the Egyptian economy, build a competitive economy that attracts investments, and continue implementing economic and structural reforms to create a model for sustainable growth led by the private sector.

 

The Minister also explained that this collaboration strengthens the efforts of the Ministry of Planning, Economic Development, and International Cooperation, which has been working since the merger of the two ministries in the new government formation to drive inclusive and sustainable growth. This includes maximizing the use of planning tools, elements of the economic and social development plan, and external resources from development partners to support Egypt's Vision 2030.

 

It is worth noting that the Ministry has launched the "Sustainability and Financing for Economic Development" framework, which is based on three main pillars: formulating evidence-based economic development policies, building a resilient economy, and enhancing macroeconomic stability by implementing structural reforms to increase competitiveness and improve the business environment, as well as mobilizing local and international financing to achieve sustainable development through a comprehensive national financing framework.

 

This new collaboration with the Forum continues the close partnership, where H.E. Dr. Rania Al-Mashat co-chairs the Mobilizing Investment for Clean and Renewable Energy in Emerging Economies(MICEE). She is a member of several key centers and alliances within the Forum, including the "New Economy and Society Center," the "Resilience Alliance," and the "Future of Growth” Initiative. In addition, the Ministry, in partnership with the Forum and the National Council for Women, is implementing the "Closing Gender Gap Accelerator" initiative to empower women in Egypt.