Egypt, Sweden discuss strengthening partnerships between private sector on both sides

Newspaper Title: https://dailynewsegypt.com/

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Wednesday - 8 March 2023

Minister of International Cooperation Rania Al-Mashat has met with Diana Janse, Minister of State and Deputy Minister for International Cooperation and Foreign Trade of Sweden, on the sidelines of the fifth United Nations Conference on the Least Developed Countries, in the Qatari capital, Doha.

During the meeting, Al-Mashat stressed the strong relations between Egypt and Sweden, in light of the Swedish experience in various fields of development and comparative advantages, especially at the level of solid waste management, food industries, engineering, machinery and equipment manufacturing, green technology, and renewable energy, pointing to the keenness of the government to strengthen relations with the Swedish side, especially through partnerships between the private sectors of the two countries, in order to advance trade and investment partnerships and build on the progress made in joint relations over the recent period.

Al-Mashat touched on the national measures to stimulate investment and attract more companies, especially in priority areas such as industry, renewable energy, electricity, tourism, agricultural development and water resources management, in order to implement the mega projects targeted by the state through partnerships between the government and private sectors, noting in the same It is time for what the state is doing to stimulate green transformation efforts through projects that take into account environmental standards, sustainability and digital transformation in all sectors, and to launch the national strategy for climate change.

The meeting discussed the importance of intensifying financing mechanisms through international financing institutions and multilateral and bilateral development partners, to enhance concessional development financing for developing countries, enabling them to implement their national development plans that are in line with global goals, and expand green transformation efforts.

It also reviewed the axes of the national platform for green projects, the “Naufi  program, and its three axes in the fields of water, food and energy, and Egypt’s endeavor through this program to advance green transformation efforts and promote green investments to implement mitigation and adaptation projects with the repercussions of climate change, calling on the Swedish side to learn more. On the details of these projects to discuss possible partnerships between the two sides, especially through the private sector in their implementation.