PM highlights Egypt’s growing international partnerships, economic reforms

CAIRO – 11 December 2024: During a recent cabinet meeting, Prime Minister Mostafa Madbouly emphasized the significance of President Abdel Fattah El-Sisi's European tour and its positive impact on Egypt’s economic and industrial landscape. The Prime Minister spotlighted the President’s visits to Denmark, Norway, and Ireland, underscoring the strategic partnerships and agreements signed during the tour that aim to strengthen Egypt’s global position.

 

A key highlight of the trip was the declaration of a strategic partnership with Denmark, paving the way for increased collaboration in sectors like renewable energy, trade, and technology. Madbouly noted that these agreements open new avenues for cooperation and support Egypt’s economic diversification goals.

 

The Prime Minister also focused on the President’s meetings with international business leaders, which served as a platform to promote Egypt’s economic reforms and investment incentives. These discussions centered on opportunities in renewable energy and other promising sectors, reinforcing Egypt’s appeal as an investment destination and a vital player in the global economy.

 

Additionally, Madbouly discussed his participation in the upcoming Doha Forum 2024, where he represented President El-Sisi in meetings with Qatari business leaders. These talks, which included representatives from the Qatar Chamber of Commerce and the Qatari Businessmen Association, aimed to explore potential investment opportunities in Egypt. The discussions highlighted the government’s efforts to improve the investment climate and attract Qatari capital across various sectors.

 

On the domestic front, the Prime Minister shared updates on his recent visits to key industrial hubs, including El-Robiki and Port Said, where he inspected developmental projects and engaged with investors to address their concerns. Madbouly reaffirmed the government’s commitment to boosting Egypt’s industrial sector, enhancing competitiveness, and increasing private sector participation. The visits also emphasized the drive to localize industries and expand exports, strengthening Egypt’s position in the global market.

 

Madbouly further announced new initiatives aimed at simplifying investment procedures in the industrial sector, positioning it as a cornerstone for Egypt’s long-term economic growth. The initiatives are designed to encourage private sector investment, create jobs, and diversify the economy, aligning with the country’s broader strategy for sustainable development.

 

Concluding the meeting, Madbouly stressed the importance of international partnerships and the role of recent agreements in advancing Egypt’s economic agenda. He reiterated that these efforts, along with a focus on industrial development, would solidify Egypt’s role in global supply chains and contribute to the nation’s overall economic growth.