Wednesday 22 Jan
On behalf of President Abdel Fattah El-Sisi, Prime Minister Dr. Moustafa Madbouly participated in the World Economic Forum “Davos 2025” in Switzerland. On Wednesday morning, he met with Jared Cohen, Head of Global Affairs at Goldman Sachs International.
This event took place in the presence of Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, Ahmed Kouchouk, Minister of Finance, Engineer Hassan Al-Khatib, Minister of Investment and Foreign Trade, and Mohamed Negm, Egyptian Ambassador to Switzerland.
At the outset of the meeting, the
Prime Minister emphasized the government's keen interest in monitoring various
international reports on the Egyptian economy, including those published by
Goldman Sachs. He highlighted the Egyptian government's sustained efforts in
implementing economic reform, outlining the ongoing steps and measures being
taken in this context. These efforts are particularly crucial in navigating the
current landscape of numerous regional and international challenges and their
subsequent impact on the Egyptian economy.
Madbouly emphasized the Egyptian
government's commitment to supporting the private sector. He highlighted the
government's efforts to enhance the private sector's role in driving economic
activity by creating a more attractive investment climate through various
measures and initiatives.
During the meeting, the Prime
Minister acknowledged the positive results and indicators achieved through the
government's cooperation with the International Monetary Fund, despite facing
external challenges.
He noted the government's
prioritization of key sectors, including tourism, agriculture, industry, and
communications and information technology. He further emphasized the
government's dedication to developing and implementing plans and programs with
specific goals and indicators to achieve desired outcomes within these sectors.
For his part, Jared Cohen
acknowledged the significant external challenges facing the Egyptian economy.
He emphasized that investors remain keenly interested in Egypt, recognizing the
numerous promising opportunities despite these challenges.
Cohen expressed his desire to
foster stronger cooperation between the government and Goldman Sachs. He
proposed leading a delegation to Egypt to explore potential areas of
collaboration. He highlighted Goldman Sachs' expertise in research, finance,
and banking, emphasizing the institution's potential to support investment
across various sectors within the Egyptian economy.
Meanwhile, Engineer Hassan
Al-Khatib, the Minister of Investment and International Trade underscored the
importance of ongoing dialogue with Goldman Sachs. He emphasized the need to
effectively communicate the government's comprehensive reform measures. The
Minister welcomed a delegation from Goldman Sachs to explore potential
investment opportunities and foster joint collaboration.
For her part, Dr. Rania
Al-Mashat, the Minister of Planning, Economic Development, and International
Cooperation also expressed a keen interest in continued consultations to
facilitate a visit by a Goldman Sachs delegation to Egypt. The aim of this
visit would be to discuss avenues for joint cooperation between the two
parties.
In response to a question regarding regional developments, the Prime Minister outlined Egypt's active role in supporting the full implementation of the Gaza Strip ceasefire. He highlighted the collaborative efforts with both Qatar and the United States to achieve this goal. Furthermore, the Prime Minister emphasized Egypt's commitment to providing humanitarian aid and supporting reconstruction efforts within the Gaza Strip.
