Latest news with #PlanningandEconomicDevelopmentandInternationalCooperation
Egypt Independent
11 hours ago
- Business
- Egypt Independent
Egypt ranks 9th globally, 1st in Africa for FDI in 2024
Rania al-Mashat, Egypt's Minister of Planning and Economic Development and International Cooperation, announced the launch of the World Investment Report issued by the United Nations Conference on Trade and Development (UNCTAD). The report monitors key trends in global Foreign Direct Investment (FDI) in 2024 and highlights Egypt's position among the most attractive countries for investments, driven by the Egyptian government's reforms. In a statement to the Egyptian Cabinet, the Minister revealed that the report placed Egypt ninth globally and first in Africa among the most attractive countries for FDI during 2024, attracting $47 billion in investments. The Minister clarified that this marks a significant leap for Egypt from its 32nd global ranking in 2023, which recorded $10 billion in FDI. This reflects the government's prioritization of empowering the private sector and attracting investments. She also noted the positive growth rate in the third quarter of the current fiscal year, which exceeded expectations. Al-Mashat highlighted the report's positive focus on developments in Africa, particularly in Egypt. The report specifically spotlighted the Ras El Hekma deal as an innovative model comprising two components: direct investment and a debt-swap mechanism. She added that this model came at a crucial time and demonstrates the state's ability to utilize innovative tools to attract financing and investments, deploying them in line with its national priorities. She also referred to the UNCTAD Secretary-General's address, which emphasized the importance of mobilizing financing for the private sector. In this context, Egypt hosted a major conference earlier this week on development finance and enhancing the private sector's role in achieving growth and creating job opportunities. This conference also served as a genuine platform to embody the principle of cooperation between international financial institutions and national governments in supporting the investment and development agenda. Within this framework, she affirmed that over the past five years, Egypt has successfully mobilized more than $15.6 billion for the private sector. She underscored that the relationship between trade, investment, and development is an integrated and interconnected one, and that promoting private and foreign investments is considered one of the primary means to achieve comprehensive and sustainable growth.
Zawya
12-04-2025
- Business
- Zawya
Egypt: Dr. Rania Al-Mashat Discusses with the Kuwaiti Minister of Finance Strengthening Economic Relations, Investments, and Mechanisms of Integration in Light of Global Economic Disruptions
H.E. Dr. Rania A. Al-Mashat, Minister of Planning and Economic Development and International Cooperation, met with H.E. Eng. Noura Sulaiman Al-Fassam, Minister of Finance and Minister of State for Economic Affairs and Investment of the State of Kuwait, during the activities of the Joint Annual Meetings of the Arab Financial Institutions held in the State of Kuwait. The two ministers discussed ways to enhance joint cooperation between Egypt and Kuwait. The meeting also touched on developments in the economic situation and challenges at the regional and international levels, in light of recent economic developments. The two sides reviewed areas of joint work between the two countries regarding planning, economic development, and international cooperation. The meeting also addressed ways to strengthen the brotherly bilateral relations and the close ties that bind the two countries. A number of topics and issues of mutual interest were also discussed. At the beginning of the meeting, H.E. Dr. Rania Al-Mashat commended the bilateral relations between the Arab Republic of Egypt and the State of Kuwait, considering them a model of well-established relations in the Middle East, as they are historical, extended, and growing relations, particularly in light of the continuous attention and support they receive from the political leadership in both countries. H.E. Minister Al-Mashat emphasized that the relations between the two countries are expanding to include many areas of joint cooperation, including economy, culture, education, and others. Kuwait is considered one of Egypt's most prominent economic partners in the Middle East, as the interests of the two countries are intertwined in various fields. The relations between Egypt and Kuwait are not limited to bilateral aspects but extend to regional and international cooperation, where the two countries, in light of current regional and international challenges, exchange views and cooperate on many regional and international issues of mutual concern. H.E. Dr. Al-Mashat also highlighted the state's efforts to support industrial development, increase the volume of trade and commodity exports, focus on entrepreneurship projects, macroeconomic stability, and at the same time encourage competitiveness and empower the private sector through structural reforms. The structural reforms are based on three main pillars: enhancing the competitiveness of the Egyptian economy and improving the business environment, supporting macroeconomic resilience, and stimulating the green transition. This is to enhance the attraction of local and foreign investments, especially from the sisterly State of Kuwait. She praised the role of the Kuwait Fund for Arab Economic Development in supporting development projects in Egypt, most notably the projects of the Sinai Peninsula Development Program. H.E. Minister Al-Mashat pointed out the Ministry's endeavor to diversify the sources of financing available to the private sector from international institutions and the ongoing work to activate the European guarantees mechanism worth 1.8 billion euros, as well as expanding the scope of tools available from other international institutions. She noted that the development financing for the private sector from development partners amounted to 4.2 billion dollars last year, exceeding for the first time the financing directed to the government. H.E. Dr. Rania Al-Mashat outlined the importance of the joint Egyptian-Kuwaiti committee, which works to achieve the greatest possible coordination and joint cooperation in areas of bilateral cooperation, in addition to the two countries' connection through numerous cooperation protocols between various institutions of the two countries. H.E. Minister Al-Mashat noted the outcomes of the 13th session of the Egyptian-Kuwaiti Joint Committee held in Cairo last September, during which an executive program for the agreement on scientific and technical cooperation between the government of the Arab Republic of Egypt and the government of the State of Kuwait was signed. Distributed by APO Group on behalf of Ministry of Planning, Economic Development, and International Cooperation - Egypt.
Zawya
10-04-2025
- Business
- Zawya
Egypt's Al-Mashat urges Arab economic integration at Kuwait financial meetings
Egypt's Minister of Planning and Economic Development and International Cooperation, Rania Al-Mashat, called for stronger Arab economic integration to address global challenges at the annual meetings of Arab financial institutions in Kuwait City. Al-Mashat, also governor for Egypt at the Arab Fund for Economic and Social Development and the Arab Bank for Economic Development in Africa (BADEA), participated in the meetings alongside a high-level Egyptian delegation including the central bank governor, the finance minister, and the agriculture minister. The meetings brought together finance, economy, and international cooperation ministers from various Arab governments and heads of Arab financial institutions. The meetings covered the boards of governors of the Arab Fund, the Arab Monetary Fund (AMF), BADEA, and the Arab Authority for Agricultural Investment and Development (AAAID), as well as the shareholders of the Arab Investment & Export Credit Guarantee Corporation, the Bader Fund supervisory board, and the Council of Arab Ministers of Finance. Al-Mashat participated in the boards of the Arab Fund and BADEA, as well as the shareholders' meeting of the Guarantee Corporation. 'Arab economic integration represents a strategic pillar in facing the intertwined challenges witnessed by the world and the region,' Al-Mashat said, highlighting the discussions on the future of Arab financial and economic cooperation, future financial policies, and support for the Sustainable Development Goals (SDGs). She noted the extensive discussions on stimulating investment, enhancing financial sustainability, and reviewing experiences in digital transformation, public debt management, tax developments, and energy security, all within the context of achieving the SDGs amidst global challenges and changing international financial landscapes. Al-Mashat commended the role of Arab financial institutions in formulating development strategies and supporting member states, stressing the need for flexible and innovative models based on knowledge exchange and investments aligned with sustainable development priorities. 'Egypt has presented a pioneering model in the sound utilization of development financing to implement strategic projects that serve citizens and enhance economic stability,' Al-Mashat said, referring to Egypt's Sustainable Development Strategy Vision 2030 and its cooperation with Arab financial institutions. She stressed the need for institutions to consider geopolitical changes and structural shifts in the global economy, including supply chain fluctuations, climate finance, and digital transformation, and the importance of coordinating Arab positions internationally to influence the global development agenda and advance global financial system development. 'Encouraging partnerships between the public and private sectors and facilitating the movement of trade and intra-Arab investments enhances the ability of countries to face challenges,' Al-Mashat added. The meetings, held amid growing challenges in food security, energy, and finance, focused on enhancing the resilience of Arab financial systems, expanding innovative financing mechanisms, supporting investment in green and digital transformation, intensifying Arab integration efforts, and strengthening partnerships with international institutions. The meetings also included the award ceremony for the Sheikh Abdlatif Y. Al-Hamad Development Award, which Egypt won twice consecutively.
Daily News Egypt
10-04-2025
- Business
- Daily News Egypt
Egypt's Al-Mashat urges Arab economic integration at Kuwait financial meetings
Egypt's Minister of Planning and Economic Development and International Cooperation, Rania Al-Mashat, called for stronger Arab economic integration to address global challenges at the annual meetings of Arab financial institutions in Kuwait City. Al-Mashat, also governor for Egypt at the Arab Fund for Economic and Social Development and the Arab Bank for Economic Development in Africa (BADEA), participated in the meetings alongside a high-level Egyptian delegation including the central bank governor, the finance minister, and the agriculture minister. The meetings brought together finance, economy, and international cooperation ministers from various Arab governments and heads of Arab financial institutions. The meetings covered the boards of governors of the Arab Fund, the Arab Monetary Fund (AMF), BADEA, and the Arab Authority for Agricultural Investment and Development (AAAID), as well as the shareholders of the Arab Investment & Export Credit Guarantee Corporation, the Bader Fund supervisory board, and the Council of Arab Ministers of Finance. Al-Mashat participated in the boards of the Arab Fund and BADEA, as well as the shareholders' meeting of the Guarantee Corporation. 'Arab economic integration represents a strategic pillar in facing the intertwined challenges witnessed by the world and the region,' Al-Mashat said, highlighting the discussions on the future of Arab financial and economic cooperation, future financial policies, and support for the Sustainable Development Goals (SDGs). She noted the extensive discussions on stimulating investment, enhancing financial sustainability, and reviewing experiences in digital transformation, public debt management, tax developments, and energy security, all within the context of achieving the SDGs amidst global challenges and changing international financial landscapes. Al-Mashat commended the role of Arab financial institutions in formulating development strategies and supporting member states, stressing the need for flexible and innovative models based on knowledge exchange and investments aligned with sustainable development priorities. 'Egypt has presented a pioneering model in the sound utilization of development financing to implement strategic projects that serve citizens and enhance economic stability,' Al-Mashat said, referring to Egypt's Sustainable Development Strategy Vision 2030 and its cooperation with Arab financial institutions. She stressed the need for institutions to consider geopolitical changes and structural shifts in the global economy, including supply chain fluctuations, climate finance, and digital transformation, and the importance of coordinating Arab positions internationally to influence the global development agenda and advance global financial system development. 'Encouraging partnerships between the public and private sectors and facilitating the movement of trade and intra-Arab investments enhances the ability of countries to face challenges,' Al-Mashat added. The meetings, held amid growing challenges in food security, energy, and finance, focused on enhancing the resilience of Arab financial systems, expanding innovative financing mechanisms, supporting investment in green and digital transformation, intensifying Arab integration efforts, and strengthening partnerships with international institutions. The meetings also included the award ceremony for the Sheikh Abdlatif Y. Al-Hamad Development Award, which Egypt won twice consecutively.
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 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) News Ireland Replaces Former Israeli Embassy with Palestinian Museum News Israeli PM Diagnosed with Stage 3 Prostate Cancer Lifestyle Maguy Farah Reveals 2025 Expectations for Pisces News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple
