Dr. Ahmed Kamali, Deputy Minister of Planning and Economic Development, received a delegation from the European Union, led by Ambassador Omar Abu Aish, Assistant Foreign Minister and Secretary-General of the Coordinating Secretariat for Implementing the Egyptian-European Partnership Agreement, Anika Eriksjard, Director of Financial and Economic Affairs at the European Commission, to discuss avenues for economic cooperation. The meeting was attended by Wael Ziyada, Assistant Minister of Planning for Economic and Investment Affairs (via video conference), Hatem Al-Laythi, Advisor to the Minister on Monetary and Banking Affairs, Ismail Youssef, Supervisor of the Planning Sector, and Emad Morsi, Head of Project Feasibility Studies Unit.
During the meeting, Dr. Ahmed Kamali emphasized that the meeting aims to review and discuss plans and strategies to enhance the Egyptian economy and achieve sustainable development, noting that the meeting represents a fruitful opportunity for cooperation and coordination between the Egyptian government and the European Union to enhance economic partnership.
The Deputy Minister of Planning highlighted that comprehensive and integrated plans have been developed to enhance the investment environment in Egypt and increase its competitiveness at both the domestic and international levels, affirming the Egyptian state’s efforts to strengthen key productive sectors such as industry, agriculture, telecommunications, and information technology, in line with the goals of the National Program for Structural Reforms, as well as enhancing the country’s export capacity.
Dr. Ahmed Kamali also stressed the importance of achieving a balance between economic, environmental, and social aspects to achieve sustainable development that benefits all segments of society, emphasizing the work on enhancing social justice and providing equal opportunities for all, including supporting entrepreneurship, encouraging innovation, and developing skills and human resources. He also explained that Egypt seeks to enhance partnership between the government, private sector, and civil society to achieve common goals, noting the state’s focus on the business environment and efforts to solve problems hindering economic development and enhance international cooperation to achieve the main goal, which is to achieve Egypt’s Vision 2030.
The Deputy Minister of Planning also stated that Egypt, like other countries, has been affected by recent global changes and crises. Therefore, the state has worked to increase the resilience and enhance the Egyptian economy’s ability to withstand shocks and diversify the Egyptian economic structure, which it is targeted by the National Program for Structural Reforms, emphasizing the importance of changing the economic structure to be more competitive, which requires support and participation of the private sector in more sectors, especially productive sectors with high added value.
Kamali said that despite the importance of the role of the private sector, the public sector also has its important role in providing infrastructure and basic services, including education, health, and transportation, contributing to creating a conducive environment for investment and growth.
Dr. Ahmed Kamali also addressed the role of technology and innovation in enhancing the competitive capacity of the Egyptian economy, explaining that upgrading technological infrastructure and encouraging innovation in various sectors can contribute to increasing productivity and improving the quality of products and services provided, thereby enhancing export opportunities and attracting foreign direct investments.
In the same context, Kamali referred to the development of labor market mechanisms and the enhancement of human capabilities, emphasizing that improving labor skills and providing decent job opportunities can contribute to enhancing domestic consumption, thereby stimulating sustainable economic growth.
Dr. Ahmed Kamali also emphasized the importance of increasing Egyptian exports to be competitive with exports of other countries, pointing out that the Egyptian market is large and attractive to both local and foreign investors to benefit from the market size, as well as the demographic structure of the Egyptian state, which is characterized by a large youth population. However, Egypt seeks to attract foreign direct investment that seeks to create a highly competitive environment and efficiency in the production process.
Regarding the first economic report for Egypt issued by the Organization for Economic Cooperation and Development (OECD) under the Egyptian-OECD Program, Kamali explained that it is a joint effort between the Ministry of Planning and Economic Development and the organization, covering a variety of economic aspects such as the business climate, the role of the private sector, and the labor market situation, with a focus on the importance of providing decent job opportunities. The report reviews the main features of the Egyptian economy and provides the organization’s recommendations for designing effective policies to overcome economic challenges, enhance the performance of the Egyptian economy, and drive comprehensive and sustainable growth.
Distributed by APO Group on behalf of Ministry of Planning and Economic Development – Egypt.