Egypt’s Ministry of Planning and Economic Development has officially launched Phase Two of its “Hafiz” platform—a comprehensive initiative designed to provide financial and technical support to businesses across the country. The platform now offers expanded services to encourage investment, boost competitiveness, and provide easier access to development finance from local and international partners.
Expanding Opportunities: Over 90 Services Now Available
The newly launched phase of the Hafiz Platform offers more than 90 financial and non-financial services, a substantial increase from the 62 services available during the platform’s initial release in December 2023. This expansion allows the platform to cater to an even broader range of businesses, including both local and foreign private sector entities, as well as entrepreneurs.
Launched by Dr. Rania Al-Mashat, the Minister of Planning and Economic Development, the platform connects businesses with over 44 development partners, including international financial institutions such as the World Bank, European Union, and African Development Bank. The goal is to provide private sector companies with a comprehensive set of tools, including investment financing, risk guarantees, and capacity-building services.
Support for More Than 18,000 Entrepreneurs and 700 Companies
Since its debut, Hafiz has attracted nearly 18,000 users from Egypt’s private sector, with 700 companies already benefiting from its services. The platform has featured over 1,000 tenders and initiatives from various development partners, all aimed at fostering greater private sector participation in development projects. This includes partnerships that connect local businesses with international markets, thus enhancing Egypt’s position in the global economic landscape.
In line with Egypt’s broader economic reform agenda, Dr. Al-Mashat pointed out that the Hafiz Platform serves as a bridge between the government’s economic planning and international development partners, helping to unlock new avenues for private sector participation in Egypt’s long-term growth strategy. She also referenced the EU Investment Guarantee Scheme, which provides up to €1.8 billion in investment guarantees, further demonstrating the Ministry’s commitment to enhancing private sector access to international financing.
“The Hafiz Platform offers an array of tailored services designed to meet the diverse needs of Egypt’s growing private sector,” Dr. Al-Mashat added. “The expansion of our financial services ensures businesses have the resources to invest in sectors critical for the country’s development, particularly those contributing to green financing and economic sustainability.”
Key Features of the Hafiz Platform
- Project Center: The platform allows users to post and explore development projects and opportunities, with easy access to potential partners and financing.
- Deal Center: A dedicated space for financial transactions, offering a transparent overview of deals and previous collaborations between the private sector and development partners.
- Reports and Research: Access to in-depth research and analyses that help businesses better understand the market dynamics, investment opportunities, and economic trends across key sectors.
- Technical Support: The platform also provides specialized consultancy services to guide businesses in developing feasibility studies, strategic plans, and project evaluations.
AI-Driven Support for Easy Navigation
In a bid to enhance the user experience, the platform is powered by artificial intelligence tools, which allow companies to quickly find and access relevant services. The AI assistant serves as a virtual guide, helping users navigate the platform and access the information they need with ease.
2024 Annual Report
On the other hand, Planning Ministry has officially launched its 2024 Annual Report. Titled “Macroeconomic Stability, Structural Reforms, and Economic Diplomacy to Drive Sustainable Development,” the report underscores the country’s achievements in fostering economic stability, advancing structural reforms, and leveraging economic diplomacy for sustainable development.
The report was launched at a high-profile event attended by key figures, including Mr. Mohamed Gabran, Minister of Labor, Dr. Ashraf El-Arabi, Head of the National Planning Institute, and international development partners such as Angelina Eichhorst, Head of the EU Delegation to Egypt, and representatives from the UNDP, World Bank, African Development Bank, and the German Development Cooperation Agency.
