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Egypt, WB review FDI, industrial development strategies
Published in Amwal Al Ghad on 03 - 09 - 2024

div class="content user-select-text" tabindex="0" aria-description="" aria-label="Sent by Copilot: **EU Allocates €1.3 Million to WHO Europe for Nurse Retention** The European Union has signed a €1.3 million agreement with the WHO Regional Office for Europe (WHO Europe) to help retain nurses and make the profession more attractive. Funded by the EU4Health programme, this 36-month initiative will focus on countries with significant nurse shortages. Stella Kyriakides, Commissioner for Health and Food Safety, highlighted the importance of nurses, stating, "Nurses are the backbone of our health systems and are critical in ensuring that patients receive high-quality, professional care when they need it." The funding will support recruitment action plans, mentoring programmes, workforce impact assessments, and training opportunities. These efforts aim to address structural shortages, improve nurse wellbeing, and leverage digital transformation in healthcare. The initiative will be tailored to national and sub-national needs through cooperation with Member States, nurses' organisations, and social partners. --- Would you like more details on any specific aspect of this initiative?"
div class="content user-select-text" tabindex="0" aria-description="" aria-label="Sent by Copilot: **Turkey Seeks BRICS Membership to Expand Global Influence** Turkey has formally applied to join the BRICS group of emerging-market nations, aiming to enhance its global influence and establish new ties beyond its traditional Western allies. President Recep Tayyip Erdogan's administration views the geopolitical center of gravity as shifting away from developed economies. This diplomatic push reflects Turkey's aspirations to cultivate relationships in a multipolar world while maintaining its commitments as a key NATO member. Frustrated by the lack of progress in its bid to join the European Union, Turkey submitted its BRICS application months ago. The move also stems from rifts with NATO members after Turkey maintained close ties with Russia following its 2022 invasion of Ukraine. Erdogan emphasized the importance of balancing relations with both the East and the West, stating, "Turkey can become a strong, prosperous, prestigious, and effective country if it improves its relations with the East and the West simultaneously." The BRICS group, which includes Brazil, Russia, India, China, and South Africa, recently expanded to include Iran, the UAE, Ethiopia, and Egypt. Further enlargement, potentially including Turkey, may be discussed at a summit in Kazan, Russia, from October 22-24. BRICS positions itself as an alternative to Western-dominated institutions like the World Bank and IMF, offering new members access to financing and broader political and trading relationships. Turkey believes BRICS membership could enhance economic cooperation with Russia and China and position it as a trade conduit between the EU and Asia. Despite this, Turkey continues efforts to rejuvenate EU membership talks, which remain a strategic target. Foreign Minister Hakan Fidan highlighted the importance of BRICS in diversifying global economic approaches and identities. --- Would you like more details on any specific aspect of Turkey's BRICS application or its broader diplomatic efforts?"
Egypt's Minister of Planning and Economic Development, Rania Al-Mashat, met on Monday with Stephen Jimbart, the World Bank's Regional Director for Egypt, Yemen, and Djibouti, and his team.
The meeting focused on advancing Egypt's strategy for foreign direct investment (FDI), industrial development, and trade enhancement.
Al-Mashat emphasised the government's commitment to boosting both domestic and foreign investments, with a particular focus on creating a clear vision for FDI and improving the investment environment in Egypt.
The discussion also covered the preparation of Egypt's industrial development strategy and trade enhancement in collaboration with international partners, including the UN Industrial Development Organisation and the German Development Cooperation Agency.
Additionally, the meeting addressed efforts to strengthen human capital investment through the "Bidaya" initiative, aimed at enhancing skills and building Egyptian human resources.
Furthermore, the Minister and World Bank officials discussed preparations for the COP29 climate conference and the implementation of recommendations from the Climate and Development Report (CCDR).
They reviewed ongoing projects such as InfraSAP, which supports green infrastructure investments, and the development of Sharm El-Sheikh Guide to Fair Finance.
The meeting concluded with a focus on policy financing to support structural reforms, enhance economic competitiveness, and advance green transformation.
Attribution: The Egyptian Cabinet
Subediting: M. S. Salama


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