Dr. Rania Al-Mashat Holds Expanded Meeting with Japanese Business Community and Financial Institutions to Promote Economic and Structural Reforms within the Framework of Egypt’s Narrative for Economic Development

In the framework of coordination between the Ministry of Planning, Economic Development and International Cooperation and the Ministry of Foreign Affairs Emigration and Egyptian Expatriates…

 

Dr. Rania Al-Mashat Holds Expanded Meeting with Japanese Business Community and Financial Institutions to Promote Economic and Structural Reforms within the Framework of Egypt’s Narrative for Economic Development

 

 

 

Al-Mashat:

 

I invite the Japanese private sector to invest in the new model of the Egyptian economy.

 

Egypt has invested in an investment-incentivizing infrastructure, especially in the fields of digital transformation.

 

Productive sectors, technology, and tourism are a priority for the Egyptian economy in the coming period.

 

The State is adopting disciplined fiscal and monetary policies and precise governance of public investments to make room for the private sector.

 

The continuation of positive indicators for the Egyptian economy strengthens the drive towards ongoing reform.

 

Comprehensive sectoral reforms to maximize added value and encourage innovation and knowledge-based growth.

 

Multiple reforms with specific timelines to improve Egypt's ranking in business competitiveness and increase green investments.

 

 

 

In the framework of coordination between the Ministry of Planning, Economic Development and International Cooperation and the Ministry of Foreign Affairs, Emigration and Egyptian Expatriates, H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, participated, via video conference, in an expanded meeting with the Japanese business community and financial institutions, organized by the Egyptian Embassy in Tokyo. The meeting aimed to promote “Egypt’s Narrative for Economic Development: Reforms for Growth, Jobs & Resilience” and present the developments of the Egyptian economy and its most prominent positive indicators. Ambassador Ragui El-Etreby, Ambassador of the Arab Republic of Egypt to Japan, and more than 40 representatives of the Japanese business community and financial institutions participated in the meeting.

 

Egypt’s Narrative for Economic Development: Reforms for Growth, Jobs & Resilience

 

The Minister began her speech by emphasizing that Egyptian-Japanese relations have evolved over the past years into an integrated development partnership, transcending the traditional framework of bilateral cooperation.

The Minister highlighted “Egypt’s Narrative for Economic Development: Reforms for Growth, Jobs & Resilience” that the State launched in September 2025, explaining that it is a comprehensive framework for the integration of Vision 2030, the government program, and sectoral strategies in order to transition to the new economic model based on productivity. This is in implementation of the directives of the political leadership, where this model is based on building an economy reliant on exportable sectors, focusing on technology, innovation, and structural reforms to ensure sustainable growth.

 

The Minister stressed that since 2014, Egypt has established a massive infrastructure unmatched for decades, which includes developing ports, enhancing logistics, expanding sustainable transport networks, modernizing electricity grids, and implementing major water management and treatment projects, in addition to establishing grand museums and cultural facilities. These investments have contributed to creating a more productive and investment-attracting climate.

 

Dr. Al-Mashat underscored that Egypt faced severe global shocks, starting with the COVID-19 pandemic and the subsequent global contraction, passing through the repercussions of the war in Europe that affected wheat imports, and ending with the wave of capital outflows from emerging markets. Nevertheless, March 2024 represented a significant turning point, as Egypt adopted disciplined fiscal and monetary policies, set a clear ceiling for public investments, and undertook real reforms that contributed to the start of a strong economic recovery phase.

 

Dr. Al-Mashat added that “Egypt’s Narrative for Economic Development: Reforms for Growth, Jobs & Resilience” focuses on exportable sectors and the real economy that drives growth, with comprehensive reforms and specific timelines in industry, trade, attracting Foreign Direct Investment (FDI), developing the labor market, deepening local manufacturing and industrial localization, improving the investment climate, and driving the green transition, with precise timetables for each reform measure to enhance transparency and commitment to implementation.

 

Minister Al-Mashat noted that Egypt holds an advanced rank in the Economic Complexity Index among 145 countries, which reflects the ability of Egyptian industries to integrate the technological component and raise production quality. Furthermore, export support programs are linked to the degree of complexity to promote the production of goods with higher added value.

Dr. Al-Mashat also urged the Japanese private sector to invest in the new model of the Egyptian economy, explaining that Egypt has invested in an investment-incentivizing infrastructure, especially in the fields of digital transformation, and that productive sectors, technology, and tourism are a priority for the Egyptian economy in the coming period.

 

Indicators of the Egyptian Economy

 

Dr. Al-Mashat highlighted two main strengths of the Egyptian economy. First, its advanced ranking in the Environmental Complexity Index is driven by renewable energy projects initiated in 2014 and the State's firm commitment to climate goals. This commitment offers Japanese companies investment opportunities in wind and solar energy through concessional financing via the NWFE program. Second, she reaffirmed that the Egyptian economy is among the most diversified in the region, boasting competitive advantages in labor, location, market size, and attractiveness for export-oriented industries.

 

Dr. Al-Mashat mentioned that the growth rate remained at 2% during the global shocks, and rose to 4.4% for the fiscal year, and 5% for the last quarter. She stressed that the manufacturing industry is the largest contributor to GDP, along with the ICT sector and the tourism sector.

 

Empowering the Private Sector

 

Dr. Al-Mashat indicated that private investments account for about 60% of total investments, as a result of setting a ceiling on public investments to make room for the private sector, and that loans directed to the industrial sector reinforce the consistency of policies with the goal of promoting production and export. She explained that these positive developments were reflected in the evolution of Egypt's credit rating by international rating institutions.

 

Minister Al-Mashat reiterated that Egypt has been able over the past five years to mobilize concessional financing for the private sector exceeding $16 billion, with strong partnerships with the European Union to enhance investment guarantees. She added that any company seeking to enter the Egyptian market must look at three main factors: actual growth rates, ease of access to finance, and clarity of the economic reform agenda and government policies.

Dr. Al-Mashat also addressed the government's efforts in this regard, including the launch of the State-Owned Enterprises Unit, alongside the role of the Sovereign Fund, and the Government Offerings Unit. All of these mechanisms aim to maximize the return on state assets and ensure their optimal utilization for the benefit of future generations, with a clear governance structure for managing this process, noting the cooperation with the International Finance Corporation (IFC) to offer 11 airports to the private sector.

 

Dr. Al-Mashat reaffirmed that all these steps are documented in “Egypt’s Narrative for Economic Development” concerning the state's economic policy and asset management. In conclusion, she stressed the importance of disseminating Egypt’s economic story through various Japanese financial institutions and the business sector, to clarify the economic transformation model, the package of structural reforms, and the evolving and escalating growth trajectory, reflecting the Egyptian economy's capacity for recovery and expansion despite global challenges.