Latest news with #RaniaAl-Mashat
Egypt Today
14 hours ago
- Politics
- Egypt Today
PM Madbouly follows up on funding of ‘Haya Karima' initiative projects
CAIRO -19 June 2025: Prime Minister Mostafa Madbouly chaired a meeting on Thursday to review the funding status of projects under the presidential 'Haya Karima', Decent Life initiative. The meeting was attended by Minister of Planning, Economic Development and International Cooperation Rania Al-Mashat, Minister of Housing, Utilities and Urban Communities Sherif El-Sherbiny and several other senior officials. Cabinet Spokesperson Mohamed el Homsany said Madbouli closely followed up on the funding developments for the first phase of the initiative, which is set to conclude soon. He reaffirmed ongoing coordination with relevant ministers and authorities to monitor the implementation of the initiative as one of the country's most significant presidential development programs that aims to improve the living standards of millions of rural citizens through the provision of modern infrastructure, integrated social services, and sustainable job opportunities. The meeting also reviewed progress on projects in the first phase and preparations for the launch of the second phase of the initiative. The discussions included an overview of investment allocations for key national programs, including the 'Building the Egyptian Citizen' program and targeted investment in Upper Egypt. The meeting also addressed improvements in public service indicators such as sanitation, drinking water, natural gas, and high-speed internet access in villages covered by the initiative's first phase.
See - Sada Elbalad
18 hours ago
- Business
- See - Sada Elbalad
Egypt Hosts UNCTAD Launch as Africa Sees FDI Rebound
H-Tayea The Government of Egypt and the UN Conference on Trade and Development (UNCTAD) jointly launched the World Investment Report 2025 in Cairo today, spotlighting global foreign direct investment (FDI) trends and Egypt's rising role as a regional investment hub. The annual report, considered the leading global benchmark on FDI flows and policies, showed global FDI rose 4% in 2024 to $1.5 trillion. However, this apparent growth was inflated by volatile flows through conduit economies. Excluding those, FDI actually declined 11%, marking the second year of contraction amid growing geopolitical and economic uncertainty. UNCTAD warned of a negative global investment outlook for 2025, highlighting a sharp drop of 25–33% in SDG-related investment in developing countries — particularly in renewable energy, infrastructure, water, and food systems. Only the health sector showed modest growth. One of the report's key themes this year is the digital economy. Investment in data centers and fintech is growing fast, but remains highly concentrated in a few regions, reinforcing the global digital divide. Africa saw a strong rebound in FDI, rising 75% to $97 billion. Egypt led this recovery, accounting for the continent's highest inflows, driven by the landmark Ras El-Hekma urban development megaproject and major infrastructure investments. Egypt doubled its project-finance commitments and defied a regional decline in greenfield projects, making it a standout performer in Africa. The country also climbed dramatically in global rankings, rising from 32nd to 9th among the world's top FDI recipients in 2024. Dr. Rania Al-Mashat, Minister of Planning and International Cooperation, said Egypt's performance reflects its focus on exports, industry, and private-sector-led growth: "Egypt's consistent presence on the investment map highlights our ongoing structural reforms designed to foster productivity, job creation, and quality growth." Eng. Hassan Elkhatib, Minister of Investment and Foreign Trade, emphasized policy clarity and investor confidence: "Egypt is creating a transparent, competitive business climate, turning the country into a hub for investment and global connectivity." UNCTAD's Investment Research Director, Richard Bolwijn, stressed the importance of international cooperation to support sustainable investment in developing economies. The launch event included a technical briefing on the report's findings and a panel discussion with international stakeholders from the private sector, academia, and multilateral organizations. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean News 3 Killed in Shooting Attack in Thailand
Egypt Today
20 hours ago
- Business
- Egypt Today
Egypt 'platform' for int'l cooperation amid regional, global uncertainty: Al-Mashat
Minister Rania Al-Mashat CAIRO - 19 June 2025 — Minister of Planning, Economic Development and International Cooperation, Rania Al-Mashat said that Egypt continues to position itself as a platform for international cooperation and investment, even amid global and regional headwinds. 'This report is being released at a time of rising uncertainty, even more than when it was drafted,' Al-Mashat said during her speech at the launch of the UNCTAD World Investment Report 2025 in Cairo. 'Yet, despite this challenging backdrop, there are silver linings, particularly in Africa, and in Egypt's case, projects such as Ras El-Hekma reflect both direct investment and debt-swaps, which the report examines in detail,' she added. She noted that the report also echoes recent global calls to mobilize more financing for the private sector; a theme aligned with Egypt's national priorities and recent efforts to encourage private-sector engagement in development. Referring to Egypt's recent hosting of the Development Finance to Foster Private Sector-Led Growth & Jobs conference, Al-Mashat said the country serves as an example of how multilateral development partners can work together to support investment and development agendas. She also touched on broader issues raised in the report, including developments in East Asia's green transition and the importance of international experience-sharing through South–South and triangular cooperation. She emphasized the importance of including all countries in global transformations, especially in areas such as digital infrastructure and artificial intelligence. 'The digital divide is no longer just about access to infrastructure, it now includes AI,' she said. 'Without inclusive approaches, we risk leaving countries behind.' Al-Mashat concluded by underscoring Egypt's role as a consistent host of international events focused on investment and development. 'We began this week with strong messages from global institutions on concessional finance and private-sector investment in Egypt, and we're ending it with another important global partner launching a major report from Cairo.'
Daily News Egypt
20 hours ago
- Business
- Daily News Egypt
Egypt jumps to 9th in global FDI rankings as Africa sees rebound
Egypt's foreign direct investment (FDI) surged in 2024, making it the ninth-largest recipient globally and the main driver of a rebound in investment across Africa, according to a UN report launched in Cairo on Thursday. The World Investment Report 2025 from UN Trade and Development (UNCTAD) showed that Egypt's performance contrasted with a second consecutive annual decline in global FDI when excluding volatile financial flows. The global outlook for 2025 remains negative amid heightened investor uncertainty. FDI inflows to Africa rebounded by 75% in 2024 to $97bn, largely due to flows into Egypt. This increased the continent's share of global FDI to 6% from 4% the previous year, and its share of developing-country inflows to 11% from 6%. Egypt was identified as the primary driver of this turnaround, with a mega-project in urban development at Ras El-Hekma being a significant contributor. Globally, FDI rose 4% in 2024 to $1.5 trillion, but UNCTAD noted this headline figure was inflated by volatile flows through conduit economies. When these are excluded, global FDI registered an 11% decline. The report also found that investment in sectors related to the Sustainable Development Goals (SDGs) in developing countries fell by 25–33% across infrastructure, renewable energy, water and sanitation, and agrifood systems. Only the health sector saw growth, though from a small base. 'This year's findings call for renewed efforts to mobilize private investment for sustainable development, especially in economies facing structural constraints,' said Richard Bolwijn, Director of UNCTAD's Investment Research Branch. While Africa experienced an overall FDI rebound, the report detailed a mixed picture across the continent. Announced greenfield projects fell in both number, by 5%, and value, by 37%, in most countries. Cross-border mergers and acquisitions turned negative, resulting in net divestments of $1.5bn compared with net investments of $9.5bn in 2023. However, announced international project-finance deals in Africa increased in value by 15%, boosted by a megaproject in Egypt, even as the number of such deals dipped by 3%. In Egypt, which jumped from 32nd to 9th place among global FDI recipients, project-finance commitments doubled, supported by large-scale investments in energy and transport infrastructure. The country also defied the continent-wide decline in announced greenfield projects. The report identified North Africa, led by Egypt, as the main growth engine for FDI on the continent. The findings were presented at an event hosted by the Government of Egypt to mark the report's launch. 'In a year marked by shifting global investment patterns, Egypt's consistent presence on the investment landscape, as captured in the World Investment Report, comes as we double down on an ambitious reform agenda that places industrial production, exports, and foreign direct investment at the heart of our economic development model,' said Dr Rania Al-Mashat, Egypt's Minister of Planning, Economic Development & International Cooperation. 'Our focus remains clear: unleashing private sector potential through structural reforms that foster quality growth and resilience by driving job creation, boosting productivity and increasing value-added.' Eng Hassan Elkhatib, Minister of Investment and Foreign Trade, added: 'Egypt is writing a new investment narrative, coupling deep structural reforms and clear, predictable policies with a competitive, transparent business climate and a dynamic private sector. This vision reinforces Egypt's growing role in the regional and global investment landscape, transforming the country into a hub of opportunity and connectivity.' The report also examined policy trends, finding that the number of investment policy measures reached its second-highest level on record in 2024, at 174. Of these, 78% were favourable to investors, although many were shaped by geopolitical and industrial-policy objectives. In the digital economy, the report noted that investment is expanding rapidly but remains highly concentrated, with data centres and fintech attracting most of the flows and leaving significant regional gaps. The launch event in Cairo included a technical briefing on the report's findings and a discussion with representatives from the private sector, international organisations and academia.
Al-Ahram Weekly
20 hours ago
- Business
- Al-Ahram Weekly
Egypt ranks 9th globally among top FDI recipient countries in 2024 - Economy
Egypt ranked ninth globally in foreign direct investment (FDI) attraction in 2024, receiving $47 billion in investments, a significant leap from 32nd place in 2023, when it received $10 billion, a joint statement by the Ministries of Planning and Investment said Thursday. The announcement was made at the World Investment Report launch event, which was held by the United Nations Conference on Trade and Development (UNCTAD). This came during a press conference held at the General Authority for Investment and Free Zones (GAF) by Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat and Minister of Investment and External Trade Hassan ElKhatib. The UNCTAD report attributed the FDI jump largely to the Ras El-Hekma development project and several major deals the state inked in 2024. Egypt ranked ninth after the United States (first), Singapore, Hong Kong, China, Luxembourg, Canada, Brazil, and Australia. The report highlighted key global trends in foreign direct investment in 2024 and Egypt's position among the most attractive countries for investment, given the economic reforms implemented by the Egyptian government. It also pointed to a 75 percent increase in FDI flows to Africa, rising from $55 billion in 2023 to $97 billion in 2024. Egypt topped the list of fastest-growing and most attractive African countries for FDI, with a growth rate of 373 percent, followed by Ethiopia, Côte d'Ivoire, Mozambique, and Uganda. In her remarks, Al-Mashat highlighted that 2024 witnessed shifts in global investment patterns, with Egypt maintaining a strong presence in attracting FDI. She emphasized the government's ongoing efforts through an ambitious reform agenda, prioritizing industry, exports, and direct investment to achieve economic development. These efforts mainly focus on empowering the private sector through structural reforms promoting sustainable growth, resilience, job creation, productivity, and increased value. Minister ElKhatib also stated that Egypt's hosting of the launch of the 2025 World Investment Report reflects the country's significant progress in private sector investment, infrastructure, and digitalization. He affirmed that Egypt's vision aims to build a competitive, open, and globally integrated economy, with the private sector being the primary driver of sustainable growth. Moreover, he noted that 2024 saw transformational changes in FDI trends, including increased investor confidence and strategic partnerships. The minister pointed out that Egypt recorded its highest-ever annual increase in FDI, with the Ras El-Hekma development agreement being a major contributor to this surge. For his part, Mr. Richard Bolwijn, director of the Investment Research Branch at UNCTAD, stressed the importance of international cooperation to help developing countries overcome investment climate volatility. 'This year's findings call for renewed efforts to mobilize private investment for sustainable development, especially in economies facing structural constraints,' he stated. The 2024 World Investment Report indicated that global FDI flows declined by 11 percent, reaching $1.5 trillion in 2024 compared to $1.67 trillion in 2023. However, newly established investment projects saw a modest three percent increase, reaching 19,356 projects. Developed economies experienced a 22 percent decline in FDI, while levels remained stable in developing countries. FDI flows to the least developed countries rose by nine percent. Despite global economic challenges and geopolitical tensions, the Egyptian government plans to continue implementing economic and structural reforms to strengthen macroeconomic stability, improve the investment climate, promote the green economy, and achieve private sector-led economic growth. Follow us on: Facebook Instagram Whatsapp Short link:
