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Daily News Egypt
2 days ago
- Business
- Daily News Egypt
Tourism in Times of Crisis: How Innovative Financing Can Make the Difference
As tensions escalate in the region amid the confrontation between Iran and Israel, the Egyptian government's formation of a 'crisis committee' led by the Prime Minister reflects its political and administrative preparedness. Yet alongside security, another equally vital front demands attention: the economic front, particularly sectors like tourism and entrepreneurship, which form the backbone of Egypt's real economy. Tourism in Egypt employs over 2.4 million citizens and contributes around 12% of the country's GDP. However, it is often viewed too narrowly—reduced to luxury hotels and famed archaeological sites. In reality, the sector thrives on the vitality of small and micro-enterprises: tour guides, family-run heritage guesthouses, local artisans, and digital service providers form the core of Egypt's tourism ecosystem. Moments of crisis test not only the resilience of the state but also the flexibility of its economic model and its ability to support vulnerable yet crucial sectors. This is where the 'Hafez' platform, launched by the Ministry of Planning and Economic Development and International Cooperation, proves its value. As a comprehensive digital gateway, it offers over 90 financial and technical services from 44 international institutions. With more than 18,000 entrepreneurs already engaged, Hafez presents real opportunities for financing, mentorship, and access to regional and global markets. Yet a platform alone is not enough. Its impact lies in how effectively it is deployed—to reach young entrepreneurs across Egypt's governorates, empower community-based tourism initiatives, and unlock underutilised destinations from Sohag to Nuweiba, from Delta villages to the oases of the Western Desert. Recent partnerships between the government and leading business councils—such as the Federation of Egyptian Industries, CEEBA, the British Chamber, the Egyptian Businessmen's Association, and the Young Businessmen's Association—signal important progress. But these efforts need to be bolstered with complementary tools: smart grants, flexible credit lines, responsive mentorship, and integrated promotional strategies tailored to times of crisis. If the Grand Egyptian Museum symbolises what Egypt can build over decades, then the Hafez platform—and the dynamic, inclusive vision it embodies—represents what Egypt can preserve in a moment. Crises are not merely stress tests; they are reflections. They reveal not only where our strengths lie but also what remains vulnerable. Egypt has no shortage of youth, creativity, or entrepreneurial spirit. What's needed now is greater confidence in the energy of its people—who must be recognised not just as beneficiaries of policy, but as co-creators of resilience and recovery. Rasha AlKady – Architect, Tourism and Entrepreneurship Strategist, and a Member of the Entrepreneurship Secretariat at the National Front Party
See - Sada Elbalad
25-03-2025
- Politics
- See - Sada Elbalad
Planning Ministry Launches SDGs Localization Reports in Governorates 2nd Ed.
Rana Atef Under the patronage and presence of the Prime Minister Dr. Mostafa Madbouly, the Ministry of Planning and Economic Development and International Cooperation launched the 2nd edition of the Sustainable Development Goals Localization Reports in the Governorates, during the activities of the National Conference to Announce the Winners of the 3rd Round of the National Initiative for Smart Green Projects, in the presence of Dr. Rania A. Al-Mashat, Minister of Planning and Economic Development and International Cooperation, Dr. Yasmine Fouad, Minister of Environment, Dr. Manal Awad, Minister of Local Development, Dr. Mahmoud Mohieldin, UN Special Envoy for Financing the 2030 Sustainable Development Agenda, a number of governors, development partners and UN officials, and leaders of the Ministry of Planning and Economic Development and International Cooperation. Dr. Rania A. Al-Mashat, Minister of Planning and Economic Development and International Cooperation, affirmed that the Sustainable Development Goals localization reports are one of the planning tools launched by the Ministry to measure progress at the level of achieving the Sustainable Development Goals in the governorates, in order to enhance the effectiveness of the funding formula for the governorates, and accelerate the pace of achieving development goals in Egypt. Dr. Al-Mashat added that the Ministry is working on developing an interactive digital platform on the SDGs indicators at the governorate level, to display and analyze the SDGs indicators at the governorate level, and provide a general and comprehensive overview of the status of sustainable development in all Egyptian governorates at the level of the international goal, as well as presenting a complete picture of the status of the SDGs at the level of performance indicators in each governorate. Dr. Rania Al-Mashat pointed out that the SDGs data platform in the governorates will contribute to informing governors and policymakers of the updated data on a regular basis, thus enhancing the evidence-based policy-making process and the localization of the SDGs in general in Egypt, in addition to enabling and enhancing the capacities of local governments and governorates to advance in achieving the SDGs, as well as making the SDGs data available at the governorate level. The Minister of Planning and Economic Development and International Cooperation mentioned that the 2nd edition of the SDGs localization reports builds on the 1st edition, with the inclusion of a number of developments, in light of the government's continuous efforts to monitor and evaluate sustainable development indicators at the national and local levels; believing that the essence of localization is to follow a bottom-up approach. For her part, Dr. Mona Essam, Assistant Minister of Planning and Economic Development and International Cooperation for Sustainable Development Affairs, presented the Ministry's efforts in preparing the SDGs localization reports in the various governorates, explaining that localization means translating the SDGs into executive actions that are appropriate to the local context, and includes raising awareness of development goals and monitoring progress towards their achievement, while emphasizing the principle of leaving no one behind. She mentioned that the localization of the SDGs came within four main institutional measures that Egypt committed to adopting at the 2023 SDGs Summit, with the aim of accelerating the achievement of Egyptian development goals and priorities, and that the 1st edition of the SDGs localization reports was launched in partnership with the UN Population Fund (UNFPA) in 2021, where 27 reports covering all governorates were launched. She pointed out that the framework for activating the localization of the SDGs in Egypt includes the participation of stakeholders, linking localization to financial planning, in addition to raising awareness, evidence-based policies, and initiatives implemented on the ground. She said that the SDGs localization reports provide an overview and systematic assessment of the current status of the implementation of the SDGs at the governorate level, and aim to use the available data strategically to highlight both the achievements made and identify development gaps and relevant indicators that need more attention. This contributes to the design and implementation of policies and programs that respond to local needs, and ultimately enhances comprehensive and sustainable development at the national level. Regarding the 2nd edition of the reports, Dr. Mona Essam explained that 50 indicators were covered compared to 32 indicators in the 1st edition, where the coverage rate of indicators was increased, with the support of the Central Agency for Public Mobilization and Statistics, in cooperation with the UN Development Program (UNDP) and the Egyptian Center for Public Opinion Research (Baseera) to determine quantitative targets for the additional indicators in the current edition, based on the same methodology in the 1st edition reports, to ensure consistency. She continued that the same methodology for ranking governorates used in the first edition was used, which allows the governorate to analyze the extent of progress or decline in the various indicators, compare its performance with other governorates, and determine its position within the national context. She emphasized the importance of localizing the SDGs, which includes the effective guidance of development efforts and responding to local needs, through the systematic evaluation of the performance of each governorate in the indicators of the international goals, which contributes to achieving more inclusive and equitable development among the various governorates, and accelerating the implementation of the SDGs at the national level, pointing to the future path of the SDGs localization reports. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. 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