"Narrative Summit" Releases 2025 Recommendations to Cement Egypt's Position as a Global Tourism Destination    Egypt, S.Arabia step up trade ties through coordination council talks    Egypt reviews progress on $200m World Bank-funded waste management hub    Egypt urges Israel to accept Gaza deal amid intensifying fighting    Egypt, ADIB explore strategic partnership in digital healthcare, investment    SCZONE, Tokyo Metropolitan Government sign MoU on green hydrogen cooperation    Egypt welcomes international efforts for peace in Ukraine    Al-Sisi, Macron reaffirm strategic partnership, coordinate on Gaza crisis    Contact Reports Strong 1H-2025 on Financing, Insurance Gains    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    Egyptian pound down vs. US dollar at Monday's close – CBE    Egypt's FM, Palestinian PM visit Rafah crossing to review Gaza aid    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt's Environment Minister highlights $2bn green investment opportunities
Published in Daily News Egypt on 30 - 06 - 2024

Yasmine Fouad, Egypt's Minister of Environment, unveiled promising investment opportunities worth $2bn in Egypt's green circular economy during the dialogue session "Promoting Green and Circular Economy in Egypt" at the Egypt-EU Investment Conference on Sunday.
The conference was held under the patronage of Egypt's President and the President of the European Commission. The session was attended by key figures including Ousmane Dione, World Bank Vice President for North Africa, MatteoPatrone, European Bank for Reconstruction and Development Vice President for Banking, Marie-Louis Bishara, CEO of Bishara Textile and Ready-Made Garments Company, and Helmut Von Struve, CEO of Siemens Middle East.
Minister Fouad emphasized the Egyptian government's commitment to fostering a supportive environment for a green circular economy, aligning it with economic development and integrating it into social and economic pathways.
Egypt has taken significant steps in this direction, including becoming the first country globally during the COVID-19 pandemic to designate 100% of its national projects as green and funded by the public budget.
This initiative has stimulated private sector investment in green projects.
Furthermore, Egypt has developed a comprehensive legislative and procedural framework, such as the Waste Management Regulation Law based on the circular economy concept, enabling private sector participation in all waste management areas.
The country has also established the largest integrated waste management complex in the 10th of Ramadan City, designed and built by the private sector in cooperation with the World Bank to manage various types of waste.
Minister Fouad highlighted Egypt's progress in fulfilling its international commitments through strategies like the National Climate Change Strategy 2050, the updated Nationally Determined Contributions 2030, and the Biodiversity Strategy. These strategies, developed in collaboration with the private sector, banks, and international institutions like the World Bank, connect national efforts with global goals.
She emphasized that creating a supportive environment required establishing an institutional structure, a procedural and legislative framework, and engaging all stakeholders, particularly citizens, which has been a key focus over the past decade.
Minister Fouad identified several promising sectors for investment in the green circular economy, including waste management (especially agricultural, medical, and construction and demolition waste), renewable energy, resource efficiency, industry, and supply chains. These sectors, identified in the OECD's Green Growth Policy Review report for Egypt and the Country Environmental Analysis report in cooperation with the World Bank, offer significant opportunities for private sector investments, particularly with the availability of necessary infrastructure, legal frameworks, and economic incentives in the new investment law.
While the food security sector also welcomes private sector involvement, it requires further collaboration with development institutions to mitigate investment risks and replicate the success of the renewable energy sector.
Additionally, Minister Fouad highlighted the tourism sector and nature-based solutions as promising areas for investment, given Egypt's strategic location and coastlines on the Red and Mediterranean Seas. The Great Red Sea Coast project, with its focus on eco-resorts and the establishment of a Nature Fund in cooperation with the EBRD and other development partners, exemplifies Egypt's commitment to attracting private sector investments in nature-based solutions.


Clic here to read the story from its source.