Dr. Rania Al-Mashat Holds Bilateral Meetings with the President of the ODI International Foundation, the Vice President of Citibank Investment Group, and the Director of Alvarez & Marsal

At the Conclusion of Her Participation in the Spring Meetings of the IMF and World Bank

 

Dr. Rania Al-Mashat Holds Bilateral Meetings with the President of the ODI International Foundation, the Vice President of Citibank Investment Group, and the Director of Alvarez & Marsal

 

"Al-Mashat" reviews efforts to prepare the national narrative for economic development and the state’s priorities to empower the private sector to lead growth.

 

At the conclusion of her participation in the Spring Meetings of the International Monetary Fund (IMF) and the World Bank held in Washington, DC., H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, and Egypt’s Governor at the World Bank, met with Ms. Liesbet Steer, President of the ODI Foundation, one of the prominent international think tanks and research centers.

 

During the meeting, H.E. Dr. Rania Al-Mashat emphasized the importance of the theme of this year's Spring Meetings, which focused discussions on the significance of jobs and skills, as this is a major challenge for developing countries and emerging economies, explaining the ministry's efforts to prepare the national narrative for economic development  to drive growth and employment, and the ongoing cooperation with the World Bank - the knowledge partner - and in close coordination with various ministries and national entities to finalize this narrative, which focuses on vital sectors such as foreign direct investment, industrial development, macroeconomics, labor market and employment.

 

The Minister of Planning, Economic Development, and International Cooperation pointed out the importance of jobs and skill acquisition to support middle-income countries to move to the ranks of high-income countries, noting that increasing private sector investments is a key driver to increase employment rates and stimulate innovation, technology, and acquisition of new skills that align with labor market developments.

 

On another note, Al-Mashat also reviewed the government's efforts to stimulate the transition to a green economy, as well as continuing to implement structural reforms to enhance macroeconomic stability.

 

In a different context, the Minister of Planning, Economic Development, and International Cooperation met with Mr. Jay Collins, Vice President of Citibank International Investment Group, where both sides discussed the developments of the global economic situation in light of the trade policies announced by the United States and the uncertainty surrounding the global economy.

 

H.E. Dr. Rania Al-Mashat highlighted Egypt's efforts to shift towards growth based on tradable and exportable sectors in order to further sustain growth sustainability, encourage industry, and increase foreign direct investment (FDI).

 

Al-Mashat held a meeting with Dr. Reza Baqir, Managing Director of Alvarez & Marsal and Global Practice Leader of Sovereign Advisory Services at Alvarez & Marsal in Dubai, in the presence of Mr. Abdalla ElEbiary, Director of Sovereign Investment Services at the Foundation, The meeting also discussed the state's efforts to expand the private sector's participation in development and increase partnership opportunities between the public and private sectors.

 

H.E. Dr. Rania Al-Mashat also addressed the government's ongoing implementation of structural reforms that enhance macroeconomic stability, improve the business environment, create an investment climate, and drive green transformation, as well as the issuance of a law to regulate state ownership of companies owned or contributed to by the state, which aims to govern the state's contribution to economic activities.

 

The meeting touched on the advisory services agreement recently signed with the International Finance Corporation (IFC) to strengthen the partnership with the private sector in managing Egypt's airports, where Dr. Rania Al-Mashat affirmed the various steps and measures taken by the state to create space for the private sector and develop its role to lead comprehensive economic development efforts.