Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Finance Min. Meets New Zealand's Amb. to Cairo

Fri 15 Sep 2023 | 08:32 PM
Taarek Refaat

Mohamed Maait, Minister of Finance stressed Egypt's keeness to achieve balanced performance; in light of the unprecedented global challenges that the world is witnessing as a result of the repercussions of the pandemic and the war in Ukraine; in a way that pushes it to move forward to contain internal and external shocks and keep the wheel of the economy turning, with a commitment to expande the umbrella of social protection to help the most affected groups and sectors.

This came during his meeting Friday with Amy Lawrenson, New Zealand's ambassador to Cairo and Target.

Maait pointed out that government is working to encourage the private sector and increase its contribution to advancing the development process.

The minister explained that Egypt is hosting the annual meetings of the Asian Infrastructure Investment Bank in Sharm El-Sheikh on September 25 and 26, for the first time in Africa. This paves the way for a strong start for the development partnership between Egypt and this multilateral institution, with the experience and capabilities it possesses that qualify it to play a tangible role in meeting the development needs of African countries.

He pointed out that Egypt and New Zealand have a commom goal, which is to increase the volume of trade and investment. "Egypt has an advanced, and smart infrastructure, capable of meeting the needs of investment activities, as well as a suitable legislative environment, including tax and customs incentives  encouraging investors to expand their productive activities."

He pointed out that Egypt's membership in BRICS opens development horizons for implementing many targeted projects during the coming period, as well as localizing advanced technology in various economic sectors and increasing local production rates by expanding the scope of cooperation with member states.

Finally, Maait explained that the BRICS is expected to be a strong voice for emerging economies in the world, serving the interests of developing countries and meeting their development needs.