Egypt’s PM, UNIDO chief sign PCP cooperation agreement

CAIRO – 29 April 2021: Egypt’s Prime Minister Mostafa Madbouly on Wednesday signed a Program for Country Partnership (PCP) agreement with Director General of the United Nations Industrial Development Organization (UNIDO) Li Yong.

In a video meeting, Madbouly affirmed that such step is a further addition to the ongoing cooperation between Egypt and the UNIDO.

He affirmed the state’s keenness to joint the PCP as a creative mechanism of cooperation and coordination for sustainable and comprehensive industrial development.

Madbouly said this keenness has pushed Egypt to attach significant importance to the coordination with the UNIDO to secure all success requirements of such project.

Madbouly highlighted the impact of the coronavirus pandemic on the Egyptian and other nations’ economies, saying the PCP has helped Egypt face this crisis.

This came through studying the future of the industrial sector in light of the new situation, drafting a performance indication for the sector, defining the needs of the industrial institutions and recommending the required steps to recover from the crisis, Madbouly said.

Madbouli cited great success all countries that have already joined the program achieved in industrial development, along with the program's contribution to rendering export development and ramping out operations of integrated industrial cities in these countries a success.

He reiterated Egypt's keenness on fostering the industrial sector; being a key factor in realizing economic development and ameliorating investment atmosphere, in line with Egypt 2030 vision.

Madbouli further highlighted measures Egypt has adopted to overcome the untoward economic impact of the pandemic.

The PCP rests on a multi-stakeholder partnership led by the host country.

For his part, Yong said the signing of the agreement comes to crown arduous efforts on the part of the UNIDO and Egypt over the past years.

He lauded the outcome of a meeting with President Abdel Fattah El-Sisi, during his frequent visits to Egypt in preparation for the agreement, together with President Sisi's keenness on putting the partnership agreement into effect.

MENA contributed to the reporting