Today’s Economic News Conference discusses the future of investment and industry
Akhbar Al-Youm Economic Conference discusses the future of investment and industry
Economic conferences constitute major platforms for discussing development and investment issues, as they bring together decision-makers and experts to review the opportunities and challenges facing national economies. In this context, the Akhbar Al-Youm Economic Conference was held to discuss the prospects for economic development and the challenges associated with it. BecauseEarth Guards is keen to follow up on economic and development activities that affect the environment and sustainable development, it is today highlighting this conference because of the important insights it holds in the path of development. So keep reading.
Under the slogan: “Industry and investment… government and the private sector… together we can”, the Akhbar Al-Youm Economic Conference was held in the presence of a wide range of senior government officials, an elite group of businessmen, and members of the House of Representatives, in addition to representatives of the private sector. The team was attended by Eng. Kamel Al-Wazir, “Deputy Prime Minister for Industrial Development and Minister of Industry and Transport,” Dr. Rania Al-Mashat, “Minister of Planning, Economic Development and International Cooperation,” and Dr. Mahmoud Esmat, “Minister of Electricity and Renewable Energy.” Mr. Ahmed Kjouk, “Minister of Finance,” and Mr. Islam Afifi, “Chairman of the Board of Directors of Akhbar Al-Youm Foundation,” in addition to an elite group of investors and industrialists.
The private sector is the engine of development
The conference sessions focused on ways to enhance the business environment and stimulate the private sector to be the driving force for development. Participants discussed government strategies aimed at improving the investment climate, enhancing economic competitiveness, and empowering entrepreneurs by adopting policies that support innovation and sustainable growth. The discussions also included the structural reforms required to ensure macroeconomic stability and enhance the country’s ability to confront regional and international challenges.
Dr. Rania Al-Mashat – Minister of Planning, Economic Development and International Cooperation – explained in her speech that the government is working according to a clear plan to enhance economic stability, improve the business environment, and provide job opportunities for young people, in addition to implementing structural reforms to support the participation of the private sector. She indicated that the government has set a ceiling for public investments worth one trillion pounds to open the way for the private sector to be a major partner in development.
The Minister indicated that the results of these efforts were reflected in an increase in the volume of private sector investments to 63%, in addition to the fact that soft financing for the private sector exceeded that directed to the government for the first time in 2024, and she confirmed that the Ministry is working in cooperation with the Ministries of Investment, Foreign Trade and Industry to develop a strategy for enhancing foreign direct investment in Egypt (2025-2030) and the National Strategy for Industrial Development, and enhancing trade in cooperation with the Bank Group. International.
The Minister also added that the two strategies represent a clear road map to enhance the state’s vision for attracting foreign direct investments and localizing industry, in line with “Egypt Vision 2030,” and allows optimal use of the resources and great potential of the Egyptian economy. She explained that this step reflects the importance of integrating economic planning with international cooperation, which was embodied in the merging of the two ministries, which contributes to improving the investment climate and strengtheningPartnerships. Internationalto support national development plans.
The Minister spoke about the Ministry’s framework of work, which focuses on promoting economic growth, increasing productivity, driving investment-based growth, and diversifying the structure of the Egyptian economy, so that it shifts from non-productive sectors to productive sectors, which contribute to increasing exports and rely on private sector investments. She also indicated that the Ministry is currently working on preparing the report “Growth and Employment: The National Narrative for Economic Development,” which includes an implementation plan for economic goals and national strategies in coordination with ministries and agencies. Concerned.
She added that despite the increasing regional and international challenges, the Egyptian economy continues to progress steadily, thanks to government measures to maintain stability and achieve development, with expectations of growth of 4% by the end of the fiscal year. She noted the rise in the Purchasing Managers’ Index to the level of 50 points, which is the best performance in 4 years, as a result of increased production and sales in the non-oil private sector, noting that economic growth is not limited to quantity, but also includes the quality of growth, with a focus on developing key sectors such as industries. Non-petroleum manufacturing, which reflects the state’s orientation towards productive sectors that support exports.
On the other hand, she touched on the state of the global economy, explaining that we are facing a global scene full of uncertainty. The ambiguous aspects have become much more than the clear and certain aspects, and she pointed out that with the expansion of protectionist trade policies, these policies are expected to negatively affect the global economy in general, and developing countries in particular. Which casts a shadow on global supply chains and affects global growth, explaining that developing countries and emerging economies are still trying to make their way towards sustainable development and overcome challenges, especially with regard to debt accumulation.
Finance mechanisms
The current situation places a great responsibility on the international community to continue and accelerate the reform of the global financial structure to become more efficient and equitable, responding to the challenges of developing countries, and allowing greater representation of those countries in major international institutions. Therefore, the Minister called for accelerating the pace of reform of multilateral development banks, increasing concessional financing, expanding debt swap programs for development, and reducing debt burdens, especially on low-income countries.
There is no doubt that employment in the private sector is the basis for achieving sustainable growth, as sustainable growth is achieved through added value, and the private sector has a major role in this. For this reason, the Minister pointed out the importance of investment in industry and the human element, stressing the need to maximize investment spending in priority sectors such as the electricity sector.
Therefore, it should be made clear that international partnerships and development financing from external institutions are not directed only to the government, but rather benefit the private sector as well. The Minister indicated that Egypt is considered a platform for attracting investments and development financing from abroad, thanks to the availability of the element of credibility, and in light of the current challenges, regional partnerships and intra-regional trade between Egypt and neighboring countries will be of great importance during the coming period.
Finally, the conference concluded by emphasizing the pivotal role of the private sector in advancing development and enhancing investment in productive sectors to increase export rates. Participants also stressed the importance of continuing to implement economic reforms and strengthening international partnerships to support sustainable development. Therefore,Earth Guards continues its role in following up on such conferences and major economic events, keen to convey developments and highlight their impact on sustainable development, thus contributing to achieving a more developed and sustainable economic future for us and for future generations.
