Egypt’s Al-Mashat pushes for private-led growth, says speed key to reforms at World Bank panel

Egypt’s Minister of Planning, Economic Development and International Cooperation Rania Al-Mashat urged faster policy execution and greater private sector involvement to drive job creation, speaking Tuesday at a World Bank panel on employment and prosperity.

“Government is not enough to generate jobs. These jobs have to be generated by firms, or people need to be able to create their own firms through entrepreneurial opportunities so that they can run businesses.” Minister Al-Mashat said during the high-level discussion titled Jobs… The Path to Prosperity at the World Bank’s Spring Meetings 2025 in Washington.

The minister emphasised the need for macroeconomic stability to attract private investment, pointing to Egypt’s efforts to align vocational education with labour market demands and expand entrepreneurial opportunities.

She also called for structural reforms to dismantle market barriers and promote competition, along with an integrated financing strategy to attract capital—especially in renewables. That includes foreign direct investment, domestic resource mobilisation, debt swaps, and guarantees.

Tourism, Minister Mashat said, remains a core pillar of Egypt’s growth strategy. Each direct job in tourism generates four indirect ones, she noted, highlighting the upcoming July opening of the Grand Egyptian Museum as a catalyst for investment and employment.

She emphasised that speed is essential, stressing the need for faster action to attract investment and achieve Egypt’s development objectives.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser