New platform to promote public, private sectors partnership in development

Private sector receives development finance worth $3.2 n in 2020, in addition to $1.9bn in H1 2021

Rania Al-Mashat, Minister of International Cooperation, and Mohamed Maait, Minister of Finance, have launched a coordination platform to promote state efforts to stimulate the participation of the private sector in national development.
The platform, entitled "Strengthening the partnership between the public and private sectors: expanding scope and increasing opportunities," was announced in the presence of a number of representatives of multilateral and bilateral development partners.
Al-Mashat said that this platform will turn into reality the outcomes of the Egypt International Cooperation Forum (Egypt-ICF).
She added that it aims to present the reforms undertaken by the state to stimulate the participation of the private sector in development, enhance participation between the public and private sectors, and review the most important future projects in various fields such as dry ports, health and education.
Al-Mashat explained that the Ministry of International Cooperation was able, through the principles of economic diplomacy, to open the horizons of international partnerships with multilateral and bilateral development partners, which in turn strengthened joint relations with the private sector. This contributed to making international partnerships worth $3.2bn available to the private sector during the past year, from development partners.
She added that the development partners also made available $1.9bn during the first half (H1) of this year to the private sector, explaining that the citizen is the focus of the international partnerships that the Ministry is working to implement to improve his life and improve his standard of living, in a way that enhances investment in human capital and supports the implementation of the state's development vision2030.
For his part, Maait, stressed that the past few years have witnessed the expansion of the private sector's contributions to the comprehensive and sustainable development process, with the support of President Abdel Fattah Al-Sisi.
He pointed to the government's interest in creating an attractive and stimulating environment for the private sector, which contributes to increasing its share of public investments to enhance economic growth and provide more job opportunities during the next stage.
The minister added that the system of partnership with the private sector is a basic pillar for maximizing efforts to involve the private sector in financing and operating major infrastructure projects, explaining that the umbrella of partnership with the private sector has been extended to include utility and public service projects.
He explained that a draft law was presented to the House of Representatives to amend some provisions of Law No. 67 of 2010 about regulating the participation of the private sector in infrastructure projects, utilities, and public services; with the aim of stimulating the private sector's participation in public investments.