Minister of Planning: Egypt is seeking this year through an ambitious and intensive program of action to enhance cooperation, integration and exchange of experiences and successful experiences among African countries
Dr. Hala El-Said: Africa is the most dynamic region in the world in the current decade in the rate of increasing the establishment of sovereign wealth funds with 21 African sovereign funds with total assets of about 165 billion dollars
Egypt’s Investment Risk Guarantee Fund was established in Africa to encourage Egyptian investors to channel their investments to Africa. Egypt invested about $ 1.2 billion in Africa in 2018, bringing its total investment to $ 10.2 billion
Dr. Hala Al-Said, Minister of Planning, Follow-up and Administrative Reform, attended the meeting of the Economic Committee of the African Conference of African Ministers of Finance, Planning and Economic Development at its 52nd Session, held in Marrakesh, Morocco, where she delivered a speech at the opening session of the Conference.
Minister of Planning, Follow-up and Administrative Reform Dr. Hala Al-Saeed said that the annual conference of ministers of finance, planning and economic development in African countries has become an important forum for dialogue and exchange of experiences and successful experiences among sister countries in various developmental fields. Technology to serve financial policies, trade and the private sector in order to achieve African integration and integration, thus contributing to the comprehensive and sustainable development of African countries
Al-Sa’id added that the conference coincides with an event that Egypt is proud of and which is of particular importance to it. It is the year of the Egyptian presidency of the African Union, which includes His Excellency President Abdel Fattah Al-Sisi last month during the African Summit in the Ethiopian capital in Addis Ababa. This year through an ambitious and intensive program of activities and events in which the various Egyptian parties will cooperate to promote cooperation, integration and exchange of experiences and successful experiences among African countries from the agenda and priorities of the African Union; and the Sustainable Development Agenda 2030.
Egyptian Minister of Planning Dr. Hala El-Said also affirmed Egypt’s readiness to harness its potential and expertise and its keenness to work and cooperate with its brothers in African countries, which represents a major trend for the Egyptian state, especially with regard to the implementation of the goals of sustainable development 2030 and the Africa Agenda 2063. These goals are part of Egypt’s pride in its identity and its African identity and its responsibility to participate actively in finding solutions to all the continent’s issues and to contribute to achieving sustainable development and a better future for African peoples.
She explained that when the Egyptian State launched in early 2016 its national strategies for achieving sustainable development represented by the “Vision of Egypt 2030”, which sets the general framework for the development plans and the interim programs of action of the Egyptian state in the coming years, Egypt has ensured that this vision is consistent with Sustainable Development Goals and the Africa Agenda 2063, follow up that Egypt has also endeavored to formulate, prepare and implement the vision of Egypt 2030 through partnership between government, the private sector and civil society, in close collaboration with international development partners, with particular attention to promoting the participation of Youth and women in the implementation of the programs of this strategy
Dr. Hala Al-Saeed pointed out that the most important efforts and reforms adopted by the State to implement this vision included reform of the existing legislative and institutional system through the issuance of a package of laws and legislations to create the business environment, referring to the Industrial Licensing Law, the new investment law, To the ongoing work to issue the new customs law and the law for the development of SMEs, noting that all these measures are all aimed at simplifying the procedures for the establishment of projects, and encourage the private sector and domestic and foreign investment.
The Minister of Planning also added that the Egyptian State is also working to strengthen the legislative framework supporting the partnership between the public and private sectors through amendments to the law regulating the participation of the private sector in infrastructure projects, services and public utilities as well as the efforts of the state to create infrastructure through intensifying investment In infrastructure projects and improving their quality as one of the main axes of the Egyptian state’s efforts to achieve sustainable economic growth and job creation and to be more conducive to private investment and to attract domestic and foreign investors to follow up that Egypt implements a number of The major projects for infrastructure development and improvement of quality, pointing to the development of the Suez Canal axis, the project of the national road network, and the energy sector projects by expanding new and renewable energy projects in partnership with the private sector, the establishment of the world’s largest solar power station in Benban, She pointed out that the project received the World Bank’s annual award boxes for the best projects of the Bank in the world. This was the first time that Egypt won this award. The projects implemented by the State also included the establishment of industrial zones, The new; including the establishment of the new administrative capital and other economic and social impact of major national projects.
She added that Egypt is also working to ensure the governance of the administrative system and raise the efficiency of institutions through the implementation of a comprehensive plan for administrative reform in order to create a business environment supportive of the role of the private sector and attractive to domestic and foreign investment, noting that the plan included a number of axes uh