Dr. Rania Al-Mashat discusses with Exim Bank the progress in implementing ongoing projects in various infrastructure sectors.
Al-Mashat:
• Expanding the scope of cooperation with the private sector in light of the Comprehensive Strategic Partnership between Egypt and China.
Al-Mashat invites Chinese companies to contribute to the projects of the country platform for Green Investments, “NWFE”.
Chairman of Exim Bank values the role of the Ministry of Planning, Economic Development and International Cooperation in coordinating efforts to implement various projects in Egypt.
The Bank's Chairman reiterates the strategic nature of the relationship with Egypt and the readiness of Chinese companies for further cooperation.
H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, received Mr. Chen Huaiyu, Chairman of the Export-Import Bank of China (Exim Bank), who was making his first visit to Egypt and the African continent. The two sides held a discussion session to explore joint cooperation efforts within the framework of the high-level relations and the Comprehensive Strategic Partnership between the Arab Republic of Egypt and the People's Republic of China.
At the outset of the meeting, the Minister welcomed the Bank's Chairman on his first visit to Egypt and Africa, praising the enduring partnership between the two sides and Exim Bank’s pivotal role in financing priority projects, which reflects the depth of relations between Egypt and China under the "Comprehensive Strategic Partnership" signed between the two countries in 2014.
During the meeting, Dr. Rania Al-Mashat reviewed “Egypt’s Narrative for Economic Development: Reforms for Growth, Jobs & Resilience”, which the government launched as a national framework outlining the state's economic policies until 2030, affirming that achieving economic stability, fostering the role of the private sector, and increasing the productivity of export-oriented sectors are key pillars for the next phase.
Dr. Al-Mashat highlighted the National Structural Reforms Program, which aims to improve the business environment, deepen local manufacturing, and transition toward a more competitive, innovative, and sustainable economy.
In the same context, the Minister expressed her appreciation for the important role Exim Bank played in financing and implementing the first and second phases of the Light Rail Transit (LRT) project, in addition to the currently implemented third phase and the fourth phase planned for execution, also in cooperation with the Chinese side. She noted that the LRT project has become a prominent model for Egyptian-Chinese cooperation in green transport, explaining that the diverse projects implemented by Egypt in the infrastructure sector enhance the competitiveness of the Egyptian economy and improve the investment climate.
Al-Mashat reviewed efforts toward the green transition, especially through the Country Platform for Green Projects, the "NWFE" program, which has become a model for country platforms in attracting climate investments. She urged the Bank to encourage Chinese companies to engage in the platform and explore more projects for implementation between the private sectors of both countries.
For his part, the Bank's chairman emphasized that Egypt is the first African country he has visited, which reflects its distinguished position and the Bank's appreciation of it as a pivotal strategic partner for the Bank and the Chinese side. He indicated that Chinese companies are open to strengthening cooperation with the Egyptian side and view the Egyptian market as an attractive and supportive environment for the growth of their investments. He also expressed his appreciation for the efforts of the Ministry of Planning, Economic Development and International Cooperation in coordinating and implementing joint projects.
Both sides also reaffirmed their keenness to develop economic relations between the two countries, especially in expanding investments in the fields of new and renewable energy and the battery industry.
In conclusion, the Minister stressed her appreciation for the long-standing partnership with Exim Bank and Egypt's commitment to expanding the prospects of cooperation to achieve tangible developmental results that benefit both countries.