Minister of Planning, Economic Development and International Cooperation Delivers Opening Remarks at the High-Level Event for the Sustainable Green Industries Program

With the participation of the private sector, the industrial sector, development partners, and local banks

 

Minister of Planning, Economic Development and International Cooperation Delivers Opening Remarks at the High-Level Event for the Sustainable Green Industries Program

 

Dr. Rania Al-Mashat: The Green Industries Program reflects the pivotal role of international cooperation in advancing economic development.

 

More than 10 sectors benefit from the program to enhance the competitiveness of Egyptian industry in global markets.

 

The program targets labor-intensive industrial sectors to enhance the competitiveness of their exports.

 

Program funding is directed to the private sector, with no burden on the state.

 

70% of public investments will be green by 2030, with the private sector as a key partner.

 

We applied the blended finance approach to mobilize investments in industry and green transition.

 

“Egypt’s Narrative for Economic Development” includes key structural reforms to localize industry.

 

All international cooperation programs are part of the comprehensive efforts to achieve economic development.

 

The banking sector is a key partner in implementing the program through financial intermediation and private sector financing.

 

Citizens benefit from the program's success through reduced pollution and the creation of sustainable job opportunities.

 

Promoting the Hub for advisory, finance & investment for enterprises “Hafiz” platform across governorates to introduce the business community and private sector to financing mechanisms.

 

H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, inaugurated the high-level introductory introductory workshop on the Sustainable Green Industries Program, held today under the title “The Sustainable Green Industries Project to Support Egyptian Industry.” in the presence of Lieutenant-General Kamel Al-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport; Dr. Ali Abu Senna, Head of the Environmental Affairs Agency, representing the Minister of Environment; H.E. Ambassador Éric Chevallier, Ambassador of France to Egypt; Mr. Guido Clary, Head of the European Investment Bank Regional Hub; Ms. Anne Schouw, Deputy Head of the European Union Delegation to Egypt; representatives of the European Union and European development partners; Egyptian banks; and representatives of ministries, industrial agencies, export councils, and the private sector.

 

In her remarks, H.E. Dr. Al-Mashat highlighted the joint coordination with national entities, represented by the Ministry of Environment, to organize the workshop, which aims to introduce the Sustainable Green Industries Program to the business community, industrial companies, and export councils, which comes as a culmination of joint efforts between the Egyptian government and development partners.

 

H.E. emphasized that the program represents a significant measure that reflects the Egyptian state's commitment to supporting the industrial sector in its green transition process, helping it improve performance, rationalize resource consumption, and reduce carbon emissions, through the provision of €271 million (EGP 14.8 billion) from our development partners, led by the European Investment Bank, the European Union, and the French Development Agency, and implemented by the Environmental Affairs Agency and the National Bank of Egypt. She explained that the program reflects the pivotal role of international cooperation in advancing economic development, and that the program's funding is directed to the private sector, with no financial burden on the state.

 

Dr. Al-Mashat added that the Sustainable Green Industries Program, which has been in preparation since 2022, aims to support the transition of Egyptian industry toward a green economy, including measures related to climate change and environmental sustainability, across the country, with a focus on industrial locations and areas where pollution has a negative impact on the population and the surrounding environment, by providing financing and grants to public and private industrial companies in Egypt to implement investments across a range of areas.

 

H.E. stated that more than 10 industrial sectors benefit from the program to enhance the competitiveness of Egyptian industry in international markets, including cement, fertilizers, iron and steel, aluminum, heavy industries, and chemicals, among others, which are labor-intensive industries to enhance the competitiveness of their exports in international markets.

 

The Minister added that the program is based on the successes achieved in the three phases of Egypt’s Industrial Pollution Control Programs (phases I, II, and III) and is consistent with the national strategies developed by the Egyptian state to address the effects of climate change and achieve environmental sustainability and green growth, in addition to the growing demand from the industrial sector, and meeting the requirements of international export standards. She highlighted that the Ministry has worked to promote the concept of blended finance to mobilize investments in the industrial sector and green transformation.

 

Moreover, Dr. Al-Mashat added that, based on the Egyptian state's commitment to adopting a sustainability-driven development model, the government continues to work on promoting green growth as a key driver of future economic growth, noting that Egypt has adopted a broad package of national initiatives in this regard over the past few years, including the National Climate Change Strategy 2050, the country Platform for the “NWFE” program for Green Investment, and the Structural Reform Program, which focuses on improving resource efficiency and enhancing industrial competitiveness.

 

H.E. also added that the green transition is a fundamental component of Egypt’s Structural Reform Program implemented under the Ministry’s supervision in coordination with national stakeholders. The program has three main pillars, the most important of which is the transition to a green economy, explaining that, within this framework, several reforms supporting climate action have been implemented, including the development of a green planning system, the expansion of sustainable financing tools, the preparation of emission reduction plans for productive sectors, and the strengthening of the private sector's role in implementing low-carbon projects.

 

H.E.  also highlighted Egypt’s Narrative for Economic Development, adopted by Egyptian state in the current phase, which is based on building a strong, resilient, and inclusive economy that places people at the heart of the development process. She explained that the shift towards green and sustainable industries is one of the main pillars of this narrative, which includes major structural reforms to localize industry.

 

Furthermore, Dr. Rania Al-Mashat added that the narrative reinforces efforts to localize development distribute investments fairly among governorates, and integrate the environmental dimension into development planning to ensure sustainable growth at the national and local levels, as the state aims to increase green public investments from 40% in (2024/2023) to 70% by 2030, through an approach that integrates the environmental dimension into the planning system.

H.E. reaffirmed that the private sector is a key partner in achieving the transition to a green and sustainable economy, explaining that national platforms have become a pivotal tool for coordinating efforts among all partners and mobilizing climate finance by creating constructive partnerships between the private sector, development partners, international institutions, and governments. She noted that the banking sector is a key partner in implementing the program through financial intermediation and private sector financing.

 

Dr. Al-Mashat also highlighted the Hub for advisory, finance & investment for enterprises “Hafiz” platform, launched by the Ministry in 2023, which aims to enable public and private industrial companies to access innovative financing tools, financial incentives, and concessional loans, to promote the efficient use of natural resources and reduce emissions and provide the technical support and expertise needed to implement best green practices. The platform will be promoted across governorates to introduce the private sector and the business community with available financing mechanisms.

 

Al-Mashat also added that all these efforts aim to incentivize the private sector to scale up investments in green projects, thereby contributing to sustainable development, ensuring a more resilient and sustainable future for the national economy, and strengthening Egypt's leading position in the transition to green growth.

 

H.E. explained that all international cooperation programs form part of comprehensive efforts to achieve economic development, and that citizens benefit from the program's success through reduced pollution and the creation of sustainable jobs.