BEBA Business Sohour: H.E. Al-Mashat Highlights Egypt’s Path to Sustainable Development

Cairo, Egypt – The British Egyptian Business Association (BEBA) hosted a business sohour on Monday in honour of H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation. The event brought together a distinguished group of business leaders, diplomats, and government officials to discuss Egypt’s economic outlook, investment opportunities, and strategies for sustainable development.
Ms. Nadia Lamloum, BEBA CEO, welcomed the esteemed guests and highlighted the significance of fostering economic dialogue between Egypt and its international partners. She then invited Eng. Khaled Nosseir, BEBA Chairman, to deliver his opening remarks. In his speech, Nosseir expressed his appreciation for the strong and evolving business relationship between Egypt and the United Kingdom. He also extended a warm welcome to the notable attendees, including H.E. Gareth Bayley, British Ambassador to Egypt; H.E. Amjad Al-Adaileh, Jordanian Ambassador to Egypt; H.E. Eng. Tarek El-Molla, Former Minister of Petroleum and Mineral Resources for Egypt; and H.E. Hisham Zaazou, Former Minister of Tourism for Egypt.

Egypt’s Economic Stability and Growth Prospects
During her keynote speech, Minister Al-Mashat emphasised Egypt’s ongoing economic reforms and the government’s dedication to creating an investment-friendly business environment. She noted that the recent approval of the fourth review of Egypt’s cooperation programme with the International Monetary Fund (IMF) serves as a clear indicator of confidence in the country’s economic policies and financial management.

The successful completion of the fourth review reflects Egypt’s financial stability and the effectiveness of the government’s monetary and fiscal policies, said Minister Al-Mashat. She highlighted that Egypt’s inflation rate has declined to 12.8%, while core inflation stands at 10%, demonstrating the government’s commitment to economic stability and sustainable growth.

The minister also stressed the critical role of the private sector in driving economic expansion. She pointed out that private sector investments now represent 63% of total investments in the country, reaffirming the government’s commitment to fostering a business environment that supports entrepreneurship, job creation, and long-term economic development.

Investment Climate and Policy Reforms
Minister Al-Mashat outlined the key economic priorities that the Egyptian government is currently focusing on. These priorities include:

• Increasing Egypt’s Gross Domestic Product (GDP) growth by expanding industrial production, exports, and digital transformation initiatives.
• Strengthening public-private partnerships (PPPs) to accelerate infrastructure and development projects.
• Enhancing the ease of doing business in Egypt by implementing regulatory reforms and introducing investment incentives.
• Supporting high-growth sectors such as technology, renewable energy, and manufacturing, which are expected to play a vital role in shaping the country’s economic future.

She also emphasised the importance of international financial institutions, including the IMF and the World Bank, in supporting Egypt’s economic resilience and enhancing its ability to attract foreign investments.

Positioning Egypt as a Global Export and Manufacturing Hub
While acknowledging global uncertainties, Minister Al-Mashat positioned Egypt as a prime hub for exports to Europe and a key regional player in manufacturing. She highlighted that the country is focusing on high-value industries, moving beyond non-tradable sectors to expand into tradable, high-growth industries such as cement, iron, plastics, processed foods, and agricultural exports.

Future Outlook: Strengthening Egypt’s Global Competitiveness
Looking ahead, Minister Al-Mashat reaffirmed the government’s commitment to strengthening Egypt’s position in the global economy. She outlined the strategic initiatives that will contribute to sustainable economic growth and increased global competitiveness. These initiatives include:

• Reducing interest rates on government debt instruments, which will encourage investment in productive sectors and stimulate economic activity.
• Increasing foreign direct investment (FDI) inflows, particularly in industries that create high-value economic opportunities.
• Expanding Egypt’s participation in global supply chains, positioning the country as a key trade hub in the region.
• Fostering innovation and entrepreneurship, with a strong focus on digital transformation and technology-driven industries.

Minister Al-Mashat also addressed the government’s efforts to restructure state-owned enterprises. She explained that transferring selected state assets to the Sovereign Fund of Egypt (TSFE) will enhance their efficiency and boost their overall market value. These measures are expected to drive greater investor confidence and economic expansion.

Strengthening UK-Egypt Economic Relations
During her speech, Minister Al-Mashat emphasised the strong economic and trade partnership between Egypt and the United Kingdom. She highlighted the key role of British investments in Egypt, which continue to support sustainable economic growth and development. The minister praised BEBA for its efforts in strengthening collaboration between the business communities of both nations. She also expressed her enthusiasm for further partnerships in trade, finance, and technology, which are vital sectors for economic progress.

The event concluded with a constructive discussion among business leaders, government officials, and international representatives. The discussions reaffirmed Egypt’s commitment to economic reform, private sector engagement, and attracting global investments.