The Prime Minister participates in the Egyptian-Finnish Business Forum to promote the circular economy

Given the accelerating economic and environmental challenges, international partnerships have become one of the main drivers for reshaping development paths in a more sustainable and efficient manner. Economic growth has become measured by the volume of production, in addition to the ability to maximize the use of resources and reduce waste, which has strengthened the presence of concepts such as the circular economy to be one of the modern models that redirect economic activities towards the optimal use of resources and the creation of sustainable added value.

In this sense, joint economic forums are gaining increasing importance as effective platforms for enhancing cooperation and exchanging experiences, especially in areas related to the green transition andclean technology. Egypt is also moving towards building qualitative partnerships that support the adoption of circular economy models and contribute to achieving sustainable development based on the integration between economic growth and resource conservation.

Egyptian-Finnish Business Forum

In this context, Dr. Mostafa Madbouly, Prime Minister, participated in the Egyptian-Finnish Business Forum, honored by His Excellency the Finnish President, Mr. Alexander Stubb, and in the presence of a number of ministers, senior officials and representatives of the business community from both countries, at the headquarters of the General Authority for Investment and Free Zones in Cairo.

The forum was attended from the Egyptian side by Mr. Mohamed Abdel Latif, Minister of Education and Technical Education, Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, and Eng. Mohamed Al-Jawsaqi, CEO of the General Authority for Investment and Free Zones, while the Finnish side attended; Mr. Timo Jaatinen, Deputy Minister of Economic Affairs and Employment, Mr. Jarno Serial, Deputy Minister of Foreign Affairs for International Trade, and Ms. Rikka Ila, Ambassador of the Republic of Finland to Egypt.

At the beginning of his speech, the Prime Minister welcomed Mr. Alexander Stubb, President of the Republic of Finland, and the attendees from the Egyptian and Finnish sides, stressing that this forum embodies the solid friendship and growing economic integration between Egypt and Finland, especially in light of the common trend towards supporting the transition to a green economy and promoting sustainable investments that contribute to achieving balanced economic growth and preserving resources for future generations.

A vision based on innovation, sustainability and growth

Dr. Mostafa Madbouly indicated that Egypt and Finland share a vision based on innovation, achieving sustainable development and mutual growth, explaining that despite the difference in geographical location, ambitions are shared, which is an embodiment of the comprehensive Sustainable Development Goals (SDGs) concerned with establishing partnerships and promoting economic growth.

He added that Finland is considered one of the world’s leading countries in the fields of digital transformation, education, and green technology, while Egypt represents a strategic gateway to the Middle East and Africa regions, supported by a young population base and an extensive infrastructure development program.

Structural reforms to enhance the investment environment

The Prime Minister explained that the Egyptian government has implemented important structural reforms over the past years to create a flexible and attractive environment for investment, which included updating the legislative framework to protect investments and simplify procedures for establishing companies, in addition to developing advanced infrastructure, including the Suez Canal Economic Zone, which provides distinct incentives for Finnish companies wishing to export to global markets, as well as giving priority to the green transformation in line with Finnish expertise in the fields of renewable energy and economics. Ring.

During his speech, the Prime Minister called on Finnish partners to explore a number of priority sectors that represent promising opportunities for cooperation, including digital transformation and information and communications technology, by taking advantage of Finland’s leadership in fifth generation technologies and artificial intelligence to support the “Digital Egypt” strategy, in addition to cooperation in the fields of circular economy, clean energy and water, especially green hydrogen projects, water desalination and waste-to-energy conversion.

Strengthening cooperation in education and health

The Prime Minister also pointed to possible cooperation opportunities in the fields of education and health care represented by Goal (3) Good Health and Well-Being and Goal (4) Quality Education, by benefiting from the Finnish educational model and modern medical technologies to enhance human capital, as well as the manufacturing sector by establishing joint projects that benefit from Egyptian labor and trade agreements, including the African Free Trade Area, allowing access to a market of about 1.3 billion. Consumer.

Dr. Mostafa Madbouly stressed, in this context, that the Egyptian government is committed to being a partner to investors, and not just a regulatory body, stressing its keenness to listen to the challenges and work to solve them, in a way that ensures the success and sustainability of investments in Egypt.

In light of the above, the Egyptian-Finnish Business Forum represents an important milestone in the path of bilateral relations, reflecting a growing development in the direction of building more integrated and sustainable economic partnerships. The forum also highlights the keenness of both sides to expand areas of cooperation to support the adoption of circular economy and green economy models, which contributes to improving the efficiency of resource use and enhancing the added value of economic activities.

For its part,The Earth Guards Foundation believes that strengthening the circular economy and the green economy represent important tools for improving the use of resources and reducing waste, thus enhancing the Egyptian economy’s ability to face challenges and supporting the path of sustainable development in the long term.