Minister of Planning, Economic Development, and International Cooperation meets with Vice Chairman and Head of Strategic Growth at Mastercard to strengthen cooperation in the field of digital innovation

Dr. Rania Al-Mashat: Digital transformation is a key factor in developing Egypt's planning system and enhancing the effectiveness of development

H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, met with representatives from global company Mastercard, led by Mr. Jon Huntsman, Mastercard Global Vice Chairman and President, Strategic Growth. The meeting was attended by  Mr. Mohamed Assem, Senior Vice President Egypt, Lebanon and Iraq at Mastercard, Mrs. May Said, Director of Public sector for Egypt, Lebanon and Iraq; Mr. Omar Massarweh, VP- Govt. Affairs & Policy - EEMEA, and Mr. Mohamed Hassan, Manager of Security Technology. The meeting reviewed ways to strengthen cooperation between the Egyptian government and Mastercard.

The two sides discussed enhancing cooperation in the fields of innovation and digital transformation in various development areas, which also included improving government payment systems for startups, enhancing cybersecurity through awareness activities to support small and medium-sized enterprises and financial companies in the field of cybersecurity, and providing tools and technologies to help startups and financial institutions protect themselves from digital threats. The meeting also touched on joint efforts to develop digital skills and the national workforce through training programs for entrepreneurs and startups, equipping them with practical skills and knowledge to expand their businesses and enhance their competitiveness.

During the meeting, H.E. Dr. Rania Al-Mashat emphasized the importance of digital transformation as one of the key factors the ministry seeks to promote in order to develop the Egyptian planning system, keep pace with economic and technological developments, and support the effectiveness of implemented projects.

H.E. Minister Al-Mashat also highlighted the government's priorities to attract and encourage domestic and foreign investments and stimulate the growth of the private sector, as part of improving the overall financial and economic performance of the country, fulfilling the aspirations of the Egyptian people for development and progress.

The Minister of Planning, Economic Development, and International Cooperation further explained that technological tools and big data could enhance evidence-based decision-making, through the use of data platforms and services to improve decision-making processes, evaluate the impact of government programs, and use artificial intelligence and predictive analytics to support economic forecasts and respond to crises, while also working on developing trade strategies.

H.E. Dr. Al-Mashat also referred to the cooperation between the ministry and international development partners in establishing the Government Innovation Lab, which contributes to developing innovative solutions to government challenges using big data, in addition to supporting the launch and monitoring of the "Startup Community Charter in Egypt," aimed at more accurately identifying target groups, maximizing economic impact, and enhancing the entrepreneurial environment.

Mr. Jon Huntsman, Vice Chairman and President of Strategic Growth at Mastercard, noted that Mastercard is a leader in payment technology in Egypt, where the foundations for a strong digital economy and a safe, connected ecosystem have been laid. Huntsman explained that Mastercard plays a pivotal role in providing and supporting the growth of the digital economy for the Egyptian people and businesses. To contribute effectively to enabling innovation in digital payments, Mastercard continues to invest in building public-private partnerships to enhance the resilience of the economy, achieve financial health, address the informal economy, with a focus on security and protection.