This came came during a meeting with members of the British Egyptian Business Association (BEBA), where she praised the partnership with British International Investment (BII).
Rania Al-Mashat, Egypt’s Minister of Planning, Economic Development, and International Cooperation, announced that the trade volume between Egypt and the United Kingdom reached £4.7 billion in 2024.
This came came during a meeting with members of the British Egyptian Business Association (BEBA), where she praised the partnership with British International Investment (BII).
She noted that BII’s investment portfolio in Egypt amounts to approximately £547 million, distributed across 64 companies. This, she explained, reflects the UK’s significant role in supporting Egypt’s private sector and contributing to economic growth.
Al-Mashat also pointed out that Egypt’s economy is expected to grow by 4% by the end of the current fiscal year.
She emphasized that the government is committed to accelerating economic growth, with a strong focus on the private sector as the main driver of sustainable development.
To achieve these goals, she highlighted the continuous coordination between the economic ministerial group and other specialized ministerial groups
This collaboration aims to integrate policies that enhance the business climate, improve Egypt’s economic competitiveness, and attract more foreign direct investment (FDI).
She reaffirmed the government’s dedication to fostering a more dynamic and resilient economy that meets the needs of both local and international investors.
During the discussion, the minister also reviewed the progress of private sector investments, noting that Egypt’s Purchasing Managers’ Index (PMI) recorded positive growth in February.
Additionally, she highlighted that public investment governance has contributed to increasing the private sector’s share to 63% of total investments in the first quarter of the current fiscal year, demonstrating a shift towards greater private sector participation in economic development.
Providing insights into Egypt’s investment strategy for the upcoming fiscal year, Al-Mashat revealed that 45.3% of government investments will be allocated to human development, an increase from 42% in the current fiscal year.
Meanwhile, 35% of investments will be directed toward industrial development, reinforcing Egypt’s focus on strengthening its manufacturing and production sectors.
Another 19% will be allocated to local development projects, aiming to enhance infrastructure and improve living standards across different regions.
Discussing development financing, Al-Mashat revealed that blended finance mechanisms, which stimulate private sector investments, reached $4.2 billion in 2024.
She also noted that total concessional development financing from international development partners to Egypt’s private sector between 2020 and 2024 amounted to $14.5 billion.
