Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, held a meeting with Mr. Borje Brende, President of the World Economic Forum (WEF), within the framework of his official visit to Egypt, to discuss areas of future cooperation between Egypt and the Forum, and to build on the strategic partnership with the Forum that was launched in 2020. In many development and economic fields.
*Egypt Strategic Dialogue 2021*
At the beginning of the meeting, the Minister of Planning, Economic Development and International Cooperation welcomed the President of the World Economic Forum, stressing Egypt’s appreciation for the depth of joint relations with the Forum, as it is a global platform that brings together representatives of governments, the private sector and various relevant parties, in order to enhance discussions on confronting economic and development challenges. , and stimulating effective policy making, whether through the annual gathering of economic leaders in the world at the “Davos” Forum, or through the innovative initiatives and ideas launched by the Forum, pointing to strategic cooperation with the Forum in various fields, including empowering Mirror, green transformation, the future of economic growth, etc., and exploiting the various platforms of the forum since 2020 to promote economic reforms and green transformation efforts in Egypt.
*Structural reforms*
The two parties discussed common visions in the field of economic reform, where they touched on the latest economic developments in Egypt, as well as focusing on the importance that the Egyptian government attaches to involving the private sector in the Egyptian economy more broadly. In this regard, Dr. Rania Al-Mashat reviewed what the Egyptian government has done to implement the national program for structural reforms, which includes policies and procedures that fall under three main axes: (1) macroeconomic stability and resilience, (2) enhancing economic competitiveness and improving the business environment, and ( 3) Support the green transition.
The two sides stressed the importance of the strategic partnership between the Arab Republic of Egypt and the World Economic Forum, which was embodied in many aspects of joint cooperation, most notably the strategic dialogue for Egypt, which was held in 2021 with the participation of His Excellency the Prime Minister on behalf of the President of the Republic, and with the high-level participation of international business leaders. Influential influencers with the aim of attracting foreign investments in promising sectors based on the capabilities that Egypt possesses.
*Network to stimulate investment in clean and renewable energy in emerging economies*
The Minister of Planning, Economic Development and International Cooperation explained that the development achieved by Egypt at the level of national visions and strategies, and the contribution to advancing global efforts at the level of climate action, is reflected in the partnership with the World Economic Forum. Through co-chairing the Network to Catalyze Investment in Clean and Renewable Energy in Emerging Economies, which the Forum launched at the annual meetings held in Davos in 2024, along with the CEO of the African Finance Corporation, the Ministry of Planning, Economic Development and International Cooperation is working with the Forum to enhance South-South cooperation for better engagement. Successful experiences in the field of mobilizing financing and attracting investments for clean and renewable energy projects, in addition to discussing the most prominent challenges facing emerging countries in the field of clean energy.
*The national platform for the “Novi” program*
In this regard, the network’s “Solutions Guide” was launched in October on the sidelines of the G20 energy ministers’ meetings in Brazil, which included successful experiences in the field of promoting the green transition, including reforms and programs that have been implemented since 2014, to create an environment Attractive to investments in the clean energy sector, in addition to Egypt’s experience in developing the national platform for the “Novi” program, in line with the importance that the international community attaches to national platforms, noting the issuance of 12 development banks. Multilaterals issued a joint statement – at the COP29 climate conference – in which they affirmed that national platforms, including the “NOVA” program, can serve as a strong mechanism to support the development and implementation of countries’ strategies, their nationally determined contributions, national adaptation plans, and mobilization of financing for climate action, through the presence of a process Coordinated, state-led and a partnership that brings together relevant parties, in order to build common understandings.
*Catalyst for closing the gender gap*
She also pointed out the importance of continuing effective cooperation in the field of women’s empowerment, and building on the partnership with the Forum in launching and launching the Gender Gap Catalyst in 2021, as Egypt was the first country in Africa and the Middle East and North Africa region to join the global network of the Gender Gap Catalyst. Among its main objectives is to stimulate partnerships between the government and private sectors to expand equal opportunities efforts.
*International and regional initiatives*
In light of Dr. Rania Al-Mashat’s membership in a number of important centers and alliances in the Forum, including the “Center for the New Economy and Society,” the “Resilience Alliance,” the “Future Growth Initiative,” and others, discussions took place about mechanisms and ways of cooperation with the Forum in these areas to enhance environmental, economic, and social resilience. In light of repeated shocks, to ensure comprehensive and sustainable growth, during the coming period and starting with the annual meetings of the forum scheduled to be held in January 2025.
*Sustainability and financing framework for economic development*
On the other hand, Al-Mashat presented the philosophy of merging the two ministries and the new framework for the Ministry of Planning, Economic Development and International Cooperation. “Sustainability and Finance for Economic Development Framework,” which is based on three main determinants: formulating economic development policy based on data and evidence, to provide information that enhances discussions about needs and opportunities, bridging gaps in various areas of development, building a resilient economy and enhancing macroeconomic stability, By implementing structural reforms to increase competitiveness, improve the business environment, and mobilize local and external financing to achieve sustainable development through an integrated national financing framework, it enhances the allocation of resources to priority sectors, stimulates private sector investments, and accelerates the pace of progress towards achieving sustainable development goals, stressing These efforts aim to achieve qualitative, sustainable and comprehensive economic growth. She also stressed that the merger of the Ministries of Planning, Economic Development and International Cooperation provides the opportunity for more comprehensive partnerships with the World Economic Forum.
For his part, the President of the World Economic Forum expressed his appreciation for the close relationship with the Arab Republic of Egypt, praising the efforts made by the Egyptian government in the field of economic reform, in order to enhance macroeconomic stability and confront international and regional development challenges, explaining that Egypt is the only country that It issued a book documenting its reform and development steps following the 2021 Strategic Dialogue to present investment opportunities, and this can be built upon in order to promote what the government is doing at this time through the forum’s various platforms.
