Minister of Planning, Economic Development, and International Cooperation Holds an Open Discussion with the youth of the third edition of the Egyptian Youth Diplomacy Program

Dr. Rania Al-Mashat emphasizes the key role of youth in leading efforts to achieve economic and sustainable development

 

"Al-Mashat": Ongoing government efforts towards the governance of public investments, implementing economic and structural reforms, and improving the business environment

 

"Al-Mashat" reviews the role of economic diplomacy in driving financing for development

 

H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, held an open meeting with a group of youth from the 3rd edition of Egyptian Youth Diplomacy Program, affiliated with the Ministry of Youth and Sports, which aims to enhance the concept and role of youth diplomacy by investing the energies, experiences, and ideas of Egyptian youth and their counterparts in various countries and sectors, in the presence of Dr. Ashraf Sobhy, Minister of Youth and Sports, where Dr. Al-Mashat was keen to review the state efforts to achieve economic development and the role the ministry plays after integration in promoting these efforts through various mechanisms.

 

During the meeting, the Minister of Planning, Economic Development, and International Cooperation interacted with the inquiries of the youth, who represent diverse public and private universities and different fields of study, highlighting the importance of the role played by the youth as future leaders in achieving development, especially in light of the technological developments witnessed by the world, stressing the need for the awareness of the youth and the new generations to be aware of all the challenges facing the state and the efforts made to achieve sustainable development.

 

H.E. Dr. Rania A. Al-Mashat reviewed the ministry's vision and strategy following the merger of the planning, economic development and international cooperation portfolios, and the government's philosophy of this merger, explaining that the Egyptian economy is currently going through a major transformation phase aimed at achieving comprehensive and sustainable economic development and promoting quantitative and qualitative growth.

 

H.E. affirmed that the ministry launched the Framework for Sustainability & Financing for Economic Development, which aims to achieve economic development primarily through strengthening the process of formulating evidence-based development policies, optimizing the use of resources to close sectoral development gaps, and achieving qualitative and sustainable growth, noting that the ministry's vision is based on Egypt Vision 2030 and the National Program for Structural Reforms, in addition to the Integrated National Strategy for Development Financing, and mobilizing sustainable financing to close the financing gap, which contributes to encouraging private investments and supporting green transformation.

 

The Minister further highlighted the efforts of the Ministry of Planning, Economic Development, and International Cooperation following up the implementation of the National Economic and Structural Reform Program, in coordination with all relevant ministries and entities and in cooperation with international development partners, to obtain budget support funds to support the implementation of structural reforms that will enhance economic competitiveness, improve the business environment, enhance macroeconomic resilience to external shocks, support green transition and open future prospects for comprehensive and sustainable development.

 

She also emphasized that through the Hub for Advisory, Finance and Investments for Enterprises platform, the Ministry is working to provide technical support and financing to the private sector, whether large companies, small and medium-sized enterprises, or startups, adding that the country platform for the "NWFE" program, under which renewable energy agreements with a capacity of 4,200 megawatts were signed by the end of 2024.

 

Moreover, H.E. pointed to the Ministry's efforts, in light of the government's program, to govern public investments to achieve the targeted developmental impact, and took a number of measures for the governance of public investments and reprioritization in the 24/2025 plan, while confirming the commitment to the EGP 1 trillion ceiling set for public investments for the current year, in light of Prime Minister's Decision No. 739 of 2024.

 

In light of the organizational framework of the Ministerial Entrepreneurship Group, the ministerial group is working through the technical secretariat and the four working groups to discuss a set of tax and financial incentives to support the entrepreneurship environment and attract more foreign investments, and various stakeholders are involved in the discussions to reach the formulation of incentives that maximize the benefit to the startup community.

 

The Minister then moved on to discuss the presidential initiative to develop the Egyptian countryside "Decent Life," a comprehensive development initiative that aims to make a qualitative leap in the lives of millions of Egyptians. The initiative - which is the largest in the history of Egypt and the world in terms of the value of its funding and the number of beneficiaries - covers all sustainable development goals, as it aims to improve the living conditions of village residents by improving various services.

 

On the other hand, Al Mashat reviewed the most prominent developments in the Egyptian economy in the first quarter of the current fiscal year and the state's efforts to achieve sustainable growth. She also explained to the youth the financing alternatives to bridge the development financing gap, the importance of concessional development finance to bridge that gap, and efforts to strengthen international partnerships through economic diplomacy, as well as joint committees with sisterly and friendly countries to Egypt.

 

H.E. also emphasized that all the reforms implemented by Egypt are based on the principle of national ownership, and benefit from the technical support and expertise available from international partners, noting the cooperation with the World Bank to implement the National Strategy for Foreign Direct Investment (FDI) and the National Industrial Development Strategy.

Minister of Planning, Economic Development, and International Cooperation Holds an Open Discussion with the youth of the third edition of the Egyptian Youth Diplomacy Program