The Minister of Planning, Economic Development, and International Cooperation signs an agreement with the Federation of Egyptian Industries, the Federation of Chambers of Commerce, and 10 business councils and associations to expand the services provided through the Hub for Advisory, Finance & Investment for Enterprises platform across governorates
During the activities of the 'Development Finance to Foster Private Sector-Led Growth&Jobs' conference, organized by the Ministry of Planning, Economic Development, and International Cooperation, under the patronage and in the presence of H.E. Prime Minister Dr. Mostafa Madbouly, H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, signed an agreement with the Federation of Egyptian Industries, the Federation of Egyptian Chambers of Commerce, the Confederation of Egyptian European Business Associations (CEEBA), the Egyptian-British Chamber of Commerce, the Egyptian-African Businessmen's Association, the Canadian Chamber of Commerce in Egypt, the Egyptian-Japanese Business Council, the Swiss-Egyptian Business Association, the British Egyptian Business Association, the Egyptian Businessmen's Association, the Egyptian Junior Business Association, and the Italian Chamber of Commerce in Egypt.
The agreement aims to enhance the benefit of private sector companies across Egyptian governorates whether large, small, medium, micro-enterprises, or startups from the financial and non-financial services and the direct and indirect mechanisms available through the 'Hafiz' platform for financial and technical support to the private sector, through the Federation of Industries, business associations, the Federation of Chambers of Commerce, and their branches in the various governorates.
Commenting on the agreement, H.E. Dr. Rania Al-Mashat emphasized that the agreement comes within the framework of the Ministry of Planning, Economic Development and International Cooperation's keenness as the entity responsible for setting and following up on the implementation of Egypt's sustainable economic development strategies and ensuring alignment with 'Egypt Vision 2030' to promote inclusive development by encouraging partnerships between the public and private sectors and activating the role of the "Private Sector Participation Unit" in integrating the efforts of the private sector within the state's development priorities, especially in improving the business environment, supporting SMEs, and enhancing sectoral integration.
H.E. Dr. Al-Mashat explained that through these agreements, the Ministry is working to maximize the private sector's benefit from the Hub for Advisory, Finance&Investment for Enterprises, by facilitating the access of companies that are members of the chambers to the platform and taking full advantage of the available services and financing opportunities, furthermore holding a series of meetings organized by the Ministry of Planning, Economic Development and International Cooperation, through the private sector participation unit with international development partners, to promote ongoing dialogue and communication with the business community and relevant stakeholders.
The Ministry of Planning, Economic Development, and International Cooperation launched the Hub as one of the innovative mechanisms to advance the agenda of private sector empowerment by easing access to development financing and technical services. The platform was designed as an integrated digital portal that connects development partners, implementing agencies, government entities, and the business community of all categories including large corporations, SMEs, micro enterprises, and startups. The platform was developed as a strategic tool within the Ministry's efforts to enhance economic diplomacy and mobilize finance for sustainable development.
Through the Hub for Advisory, Finance&Investment for Enterprises, more than 90 financial and technical support services are made available by 44 bilateral and multilateral development partners. The platform has made notable progress, with the number of services increasing from 62 at its launch in December 2023 to over 90 today, and has attracted nearly 18,000 users from the private sector and entrepreneurial community. The platform's database includes over 700 companies that have benefited from support services, and more than 1,000 tenders and development initiatives funded by development partners in Egypt and more than 80 other countries providing tangible opportunities for expansion and access to regional and international markets.
Distributed by APO Group on behalf of Ministry of Planning, Economic Development, and International Cooperation - Egypt.
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