Al-Mashat highlighted the successful IFC partnership, particularly in offering airport concessions, and emphasized the importance of Diop's upcoming visit to further this collaboration. She outlined Egypt's focus on private sector-led growth through structural reforms, improved investment climates, and expanded financing mechanisms.
She noted the IFC's $2.4 billion investment portfolio in
Egypt and its $25.7 million technical assistance, spanning various sectors. She
also discussed leveraging EU investment guarantees and the "Business
Ready" report to attract more foreign investment. President El-Sisi's
directives on unified corporate taxes were also mentioned as a step towards
improving the business environment.
Al-Mashat addressed Egypt's shift towards export-oriented
industries and explored potential IFC-supported incentives. She also referenced
the Sovereign Fund's asset utilization efforts and the Cabinet's draft law on
state ownership, aimed at implementing the State Ownership Policy Document.
Diop affirmed the IFC's commitment to expanding its Egyptian
operations, attracting foreign investment, and sharing its expertise with other
countries. He praised Egypt's economic reforms and offered technical support
for managing state-owned companies.
The meeting underscored the strong Egypt-IFC partnership, which has resulted in over $9 billion in IFC investments since 1975.