Egyptian Minister of Planning and Economic Development Dr. Ahmed Rustom recently participated in a high-level session titled "Partnership with Egypt: Common Opportunities for African Business" at the first edition of the "El Alamein - Africa 2026" forum. The session was attended by prominent figures, including Minister of Transport Kamal El-Wazir and Minister of Industry Khaled Hashem. Around 1500 African investors and business leaders were present, in partnership with the African Export-Import Bank. Dr. Rustom emphasized that Egypt's economic transformation program for the next three years prioritizes quality growth.
The program focuses on effective implementation to enhance government performance and build capacities. Dr. Rustom highlighted that the state aims to promote macroeconomic stability, which has been demonstrated through recent policies and decisions that have successfully addressed regional and international geopolitical shocks. The government seeks to expand the private sector's role as a key driver of development, particularly in creating sustainable job opportunities, increasing added value, and deepening local manufacturing.
Dr. Rustom announced the government's intention to complete the second phase of the "State Ownership Policy" document, which reflects the state's commitment to opening up to private investments in vital sectors. He also revealed that the government is close to launching a "Unified Licensing Window" to facilitate investors, aiming to reduce bureaucracy and empower market mechanisms. This initiative is part of the economic transformation program's objectives.
The upcoming agenda focuses on comprehensive structural reform to enhance productivity and competitiveness. Dr. Rustom noted that this reform is coupled with active market policies and a focus on exchange rate flexibility as a crucial element in economic transformations. The government's efforts aim to create a more competitive and productive economy.
Dr. Rustom stressed that the transition to a knowledge-based and advanced economy requires accelerating the digital transformation process and increasing investment in human capital. This involves improving the quality of educational services and building the capacities of the national workforce to meet the expectations of the Egyptian and regional labor markets.
The economic transformation program prioritizes digital development and investment in human capital. By focusing on quality growth, the government aims to create a more sustainable and competitive economy. The program's success will depend on effective implementation and collaboration with the private sector.
The Egyptian government's efforts to enhance economic growth and development have been recognized by various stakeholders. The country's commitment to promoting private sector participation and improving the business environment is expected to attract more investments and drive economic growth.
Key points
- Egypt's economic transformation program prioritizes quality growth, industrial development, and digital transformation.
- The government aims to expand private sector participation and improve the business environment.
- The program focuses on enhancing productivity, competitiveness, and human capital.
