"Al-Mashat" reviews the ministry's programs to enhance growth and drive climate action... Integrating sustainability criteria into development plans.

H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, participated in the 1st Annual Green Growth and Job Opportunities Conference, which was held under the theme "Advancing Innovation for a Sustainable Future." 

The event was organized by the United Nations Development Programme (UNDP) in cooperation with the Ministry of Youth and Sports, with the attendance of Dr. Ashraf Sobhy, Minister of Youth and Sports, Mr. Basel Rahmi, CEO of the MSMEDA, Ambassador Hamdy Shaaban, Assistant Minister of Foreign Affairs, Ms. Caroline McCausland, Country Director for Plan International, and a number of representatives from the Danish Ministry of Foreign Affairs.

During H.E.’s speech, Dr. Rania Al-Mashat emphasized Egypt's unwavering commitment to advancing the economic growth and sustainability agenda as a cornerstone for paving the way toward more "innovation." She also highlighted that it is an essential part of the country's efforts towards economic development and ongoing structural reforms, focusing on enhancing macroeconomic stability, diversifying Egypt's production structure by concentrating on the real sectors, such as industry, agriculture, and information and communication technology, in addition to increasing competitiveness and improving the business environment. The ministry also supports the transition to a green economy, enhances labor market efficiency and flexibility, and develops the vocational education and training system.

H.E. Dr. Al-Mashat pointed out that green growth and commitment to green transformation are central to Egypt's development strategy, noting significant strides in areas like renewable energy, sustainable transportation, waste management, and green finance, all of which contribute to economic prosperity, social justice, and environmental protection.

H.E. Dr. Al-Mashat commended the efforts of development partners, including the UNDP, which played a crucial role in supporting Egypt's development agenda. H.E. Minister Al-Mashat referred to the ministry's collaboration with the UNDP in launching the Integrated National Development Financing Strategy during the 79th United Nations General Assembly in New York, aiming to direct financial resources toward priority sectors, thus enhancing the achievement of the SDGs.

H.E. Dr. Al-Mashat affirmed that through strategic and effective international cooperation, more achievements can be realized. She explained that despite global challenges, key sectors such as information and communication technology, tourism, and construction have shown resilience, contributing to positive growth in Egypt. 

H.E. Dr. Al-Mashat also referred to the International Monetary Fund (IMF) and World Bank's forecasts of a 4% growth rate in 2024, which reflects the country's steadfast commitment to building a competitive and resilient economy.

H.E. Minister Al-Mashat reviewed the economic growth developments in Egypt, which saw a recovery in the first quarter of the current fiscal year, registering 3.5%. H.E. Dr. Al-Mashat touched on the ministry's efforts to drive green growth through the implementation of various programs and initiatives, including the "NWFE" program and the National Initiative for Smart Green Projects, as well as the ministry's collaboration with the UN through the Joint UN Task Force on Digitalization and Innovation (JTDI).

H.E. Dr. Al-Mashat pointed out that integrating sustainability and climate action is a key element of resilience and innovation. She referred to the ministry's new framework, which aligns with the country's needs and paves the way for enhanced integration and coordination. This framework, focused on sustainability and financing for economic development, is consistent with local and regional changes, aiming to achieve high-quality, sustainable, and inclusive economic growth through three main pillars: formulating economic development policies based on data and evidence, building a resilient economy to strengthen macroeconomic stability, and improving resource allocation through the adoption of an integrated national financing framework that mobilizes both domestic and international finance, thereby allocating resources to priority sectors and accelerating the achievement of the SDGs.

H.E. Minister Al-Mashat concluded by stressing that innovation is a key element in achieving a resilient and sustainable future. She confirmed Egypt's commitment to promoting sustainability principles and transitioning to economic growth alongside climate action. She reiterated that international partnerships and collective efforts enhance the green transformation and innovation, as demonstrated in the agreements signed during the 1st Annual Green Growth Conference, which also highlighted the participation of the private sector, youth empowerment, and support for SMEs.