Egypt’s Minister of Planning, Dr. Rania Al-Mashat, participated in the first annual Green Growth and Job Opportunities conference, held under the theme “Promoting Innovation for a Sustainable Future.” The event was organized by the United Nations Development Programme (UNDP) in collaboration with the Ministry of Youth and Sports. The conference saw the participation of key figures such as Dr. Ashraf Sobhy, Minister of Youth and Sports, Bassel Rahmy, CEO of the Micro, Small, and Medium Enterprise Development Agency, Amb. Hamdy Shaaban, Assistant Minister of Foreign Affairs, and Caroline McCusland, Country Director of Plan International, along with representatives from the Danish Ministry of Foreign Affairs.
During her speech, Dr. Al-Mashat reaffirmed Egypt’s continuous commitment to driving the economic growth and sustainability agenda. She emphasized that this commitment is fundamental for paving the way toward more “innovation,” which is an essential part of the country’s ongoing economic reforms and national structural adjustments. These reforms focus on enhancing macroeconomic stability, diversifying the Egyptian economy through key sectors such as industry, agriculture, and information and communications technology (ICT), as well as improving competitiveness, fostering a green economy, and developing vocational education and training systems.
Dr. Al-Mashat pointed out that green growth and the commitment to a green transition are central to Egypt’s development strategy. She highlighted the significant strides made in areas such as renewable energy, sustainable transportation, waste management, and green finance, all of which contribute to economic prosperity, social justice, and environmental protection.
She also acknowledged the vital support of development partners, including the UNDP, which has played a key role in supporting Egypt’s development agenda. She mentioned the launch of the National Integrated Strategy for Financing Development, in collaboration with the UNDP, during the 79th UN General Assembly in New York, aimed at directing financial resources to priority sectors to enhance the achievement of sustainable development goals (SDGs).
The Minister emphasized that through strategic and effective international cooperation, more achievements can be made. Despite global challenges, she noted that key sectors like ICT, tourism, and construction have shown resilience and contributed to positive growth in Egypt. She also referred to forecasts from the International Monetary Fund (IMF) and the World Bank, projecting a growth rate of 4% in 2024, reflecting Egypt’s commitment to building a competitive and resilient economy.
Dr. Al-Mashat also discussed the positive economic growth in Egypt, citing a recovery in the first quarter of the current fiscal year with a growth rate of 3.5%. She pointed out the Ministry’s efforts in driving green growth through the implementation of several programs, including the “NUFEE” program and the National Initiative for Green and Smart Projects. Additionally, the Ministry collaborates with the UN through the Joint UN Digitalization and Innovation Team (JTDI).
She further explained that sustainability and climate action are core elements of resilience and innovation. She elaborated on the Ministry’s new framework, which aligns with the country’s needs and paves the way for enhanced integration and coordination. This framework, aimed at sustainability and economic development finance, responds to local and regional changes to achieve quality, sustainable, and inclusive economic growth through three main pillars: formulating evidence-based economic development policies, building a resilient economy to reinforce macroeconomic stability, and improving resource allocation through a national financing framework that mobilizes both local and international funds, prioritizing sectors that support SDG acceleration.
Dr. Al-Mashat concluded by affirming that innovation is a key component in achieving a resilient and sustainable future. She reiterated Egypt’s commitment to promoting sustainability principles and transitioning to green growth and climate action. She highlighted how international partnerships and collective efforts are driving green transition and innovation, evidenced by agreements signed at the First Annual Green Growth Conference. She also stressed the importance of private sector participation, empowering youth, and supporting small and medium enterprises.
