Rania Al-Mashat, Minister of International Cooperation, has discussed with officials of chambers of commerce and business associations, the available opportunities to stimulate the role played by the private sector in the development efforts undertaken by the state.
According to the Ministry’s Thursday statement, this comes in light of the focus of many development partners, including the International Finance Corporation and the European Bank for Reconstruction and Development, on providing development finance and technical support to enhance the commitment of private sector companies to the environmental, social, and governance (ESG) principles. This reflects positively on the role of these companies within the framework of the state’s development plans.
She explained that this comes within the framework of the ministry’s efforts to enhance the private sector partnership in development efforts, through economic diplomacy and international partnerships, and in continuation of the efforts made during the current year. The Ministry of International Cooperation seeks to make 2021 the year of stimulating the private sector, in line with efforts the state is making to enhance its role in development.
The meeting was attended by Alaa Ezz, Secretary General of the Federation of Chambers of Commerce, Sylvia Menassa, CEO of the American Chamber of Commerce in Cairo, Nadia Lamloum, Executive Director of the Egyptian British Business Association, Karim Wissa, Executive Director of the French Chamber of Commerce and Industry in Egypt, and Mahmoud Bazin, Chairperson of the Swiss Egyptian Business Association.
The meeting was also attended by Marwa Taher, Executive Director of the Association, Iman Al-Sharif, Secretary General and CEO of the Egyptian British Chamber of Commerce, Khaled Mohamed Nosseir, Chairperson of the Egyptian-Korean Business Council, and Dr. Sherif Al-Diwany, Advisor to the Board of Directors of the Alexandria Businessmen Association.
The meeting was also attended by Jan Noether, CEO of the German-Arab Chamber of Industry and Commerce, Karen El Shafei, Chief Operating Officer of the Chamber, along with Dr. Maged Mahmoud, Acting Executive Director of the Regional Center for Renewable Energy and Energy Efficiency.
Al-Mashat said that the meeting enhances communication between the agencies representing the private sector in Egypt, to create effective partnerships between them and multilateral and bilateral development partners, in order to achieve integration of efforts between the relevant parties, through development funds and technical support.
She added that this matter paves the way for unlocking the potential of the private sector and supporting its role in development at the state level, stressing the strengthening of communication with business councils and chambers of commerce to agree on effective cooperation mechanisms during the coming period.
