Egypt, WB review FDI, industrial development strategies

Egypt’s Minister of Planning and Economic Development, Rania Al-Mashat, met on Monday with Stephen Jimbart, the World Bank’s Regional Director for Egypt, Yemen, and Djibouti, and his team.

The meeting focused on advancing Egypt’s strategy for foreign direct investment (FDI), industrial development, and trade enhancement.

Al-Mashat emphasised the government’s commitment to boosting both domestic and foreign investments, with a particular focus on creating a clear vision for FDI and improving the investment environment in Egypt.

The discussion also covered the preparation of Egypt’s industrial development strategy and trade enhancement in collaboration with international partners, including the UN Industrial Development Organisation and the German Development Cooperation Agency.

Additionally, the meeting addressed efforts to strengthen human capital investment through the “Bidaya” initiative, aimed at enhancing skills and building Egyptian human resources.

Furthermore, the Minister and World Bank officials discussed preparations for the COP29 climate conference and the implementation of recommendations from the Climate and Development Report (CCDR).

They reviewed ongoing projects such as InfraSAP, which supports green infrastructure investments, and the development of Sharm El-Sheikh Guide to Fair Finance.

The meeting concluded with a focus on policy financing to support structural reforms, enhance economic competitiveness, and advance green transformation.