Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development & International Cooperation, met with WEF President Børge Brende as part of his official visit to Egypt. The discussions focused on future areas of collaboration between Egypt and the Forum, building upon the strategic partnership established in 2020 across various economic and developmental fields.
Egypt’s Strategic Dialogue 2021
At the outset of the meeting, H.E. Dr. Al-Mashat welcomed Mr. Brende, underscoring Egypt’s appreciation for its deep partnership with WEF. H.E. highlighted WEF’s pivotal role as a global platform that brings together government representatives, the private sector, and other relevant stakeholders to enhance discussions on addressing economic and developmental challenges, as well as stimulating effective policymaking. This is done through the annual gathering of global economic leaders at the "Davos" Forum, as well as through the innovative initiatives and ideas launched by the Forum.
H.E. Minister Al-Mashat emphasized Egypt’s strategic collaboration with WEF in areas such as women’s empowerment, green transformation, and economic growth, leveraging the Forum's various platforms since 2020 to promote Egypt's economic reforms and green transformation efforts.
Structural Reforms
The two sides discussed shared perspectives on economic reform, focusing on recent economic developments in Egypt and the government's commitment to engaging the private sector more broadly in the Egyptian economy. H.E. Minister Al-Mashat reviewed the government's implementation of the National Structural Reform Program, which includes policies and measures under three main pillars: (1) macroeconomic stability and resilience, (2) enhancing economic competitiveness and improving the business environment, and (3) supporting the green transition.
Both parties reaffirmed the importance of the strategic partnership between Egypt and WEF, which has manifested in many joint initiatives, including the Strategic Dialogue for Egypt held in 2021, with the participation of the Prime Minister on behalf of the President, and senior international business leaders. The goal of this dialogue was to attract foreign investment in promising sectors based on Egypt’s strengths.
Clean Energy Investment Network
Dr. Al-Mashat highlighted Egypt’s achievements in developing national strategies and contributing to global climate action. H.E. referenced the co-chairing of the Clean Energy Investment Network for Emerging Economies, launched during the 2024 WEF Annual Meetings in Davos.
In collaboration with the CEO of the Africa Finance Corporation, Egypt is working with WEF to strengthen South-South cooperation by sharing successful experiences in mobilizing finance and attracting clean energy investments. The initiative also addresses the challenges facing emerging economies in the clean energy transition.
The NWFE Country Platform
In this context, the "Solutions Guide" for the network was launched in October at the G20 Energy Ministers' meetings in Brazil, showcasing successful experiences in promoting green transition, including reforms and programs implemented since 2014 to create an investment-friendly environment in the clean energy sector. This includes Egypt's experience in developing the country platform for the "NWFE" program. As part of the global community’s focus on national platforms, it was noted that 12 multilateral development banks issued a joint statement at COP29, recognizing that country platforms, including the "NWFE" program, can serve as a powerful mechanism to support the development and implementation of countries' Nationally Determined Contributions (NDCs), national adaptation plans, and mobilize financing for climate action through a coordinated process led by the state, involving relevant stakeholders to build common understandings.
Gender Parity Accelerator (GPAs)
Minister Al-Mashat also highlighted the continued importance of effective collaboration in empowering women, building on the partnership with the Forum in launching the Gender Parity Accelerator (GPAs) in 2021. Egypt was the first country in Africa and the Middle East and North Africa region to join the Global Gender Parity Accelerator Network, which aims to stimulate partnerships between the public and private sectors to expand efforts for gender equality and equal opportunities.
International and Regional Initiatives
In light of Dr. Al-Mashat's membership in various important centers and alliances within the Forum, including the "Centre for New Economy and Society," the "International Transformational Resilience Coalition (ITRC)," and the "Future of Growth Initiative," discussions also covered mechanisms for cooperation with the Forum in these areas to enhance environmental, economic, and social resilience in the face of recurring shocks, ensuring inclusive and sustainable growth in the coming period, starting with the Forum’s Annual Meetings in January 2025.
Sustainability and Financing for Economic Development Framework
Minister Al-Mashat presented the philosophy behind the merger of the two ministries and the new framework for the Ministry of Planning, Economic Development, and International Cooperation, titled the "Sustainability and Financing for Economic Development Framework." This framework focuses on three main pillars: (1) Formulating evidence-based economic development policies to provide information that enhances discussions about needs and opportunities, (2) Building a resilient economy and enhancing macroeconomic stability through structural reforms to increase competitiveness and improve the business environment, and (3) Mobilizing domestic and external financing to achieve sustainable development through a comprehensive national financing framework that prioritizes key sectors, stimulates private sector investments, and accelerates progress toward achieving the SDGs.
The Minister emphasized that these efforts aim to achieve high-quality, sustainable, and inclusive economic growth. She also confirmed that the merger of the Ministries of Planning, Economic Development, and International Cooperation would create more inclusive partnerships with the World Economic Forum.
The WEF President expressed appreciation for the strong relationship with the Arab Republic of Egypt, commending the Egyptian government’s efforts in economic reform to enhance macroeconomic stability and address international and regional developmental challenges.
He emphasized that Egypt is the only country that has published a book documenting its reform and developmental steps following the 2021 Strategic Dialogue, which highlights investment opportunities. This can be built upon to promote what the government is currently doing through the Forum’s various platforms.
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