Speaking at the "Multilateral Development Projects: Procurement Readiness and Opportunities in Egypt" (MDP-PRO-Egypt) seminar, Al-Mashat emphasized that the government is moving beyond simple financing to focus on implementation readiness. The event, organized with the World Bank and the Egyptian Federation for Construction and Building Contractors, brought together major lenders including the African Development Bank and the Islamic Development Bank.
Al-Mashat noted that while Egypt has successfully mobilized
concessional financing for infrastructure and climate action, delays in
procurement procedures remain a core developmental challenge.
"Readiness in procurement is not merely a procedural
matter, but a fundamental developmental issue," Al-Mashat told attendees.
"Delays in procurement mean delays in services and postponed
investments."
The seminar serves as a unified platform for contractors and
consultants to align with the updated policies of multilateral development
banks (MDBs), reducing common bidding errors and increasing transparency for
new firms.
The Minister highlighted the success of the "Hub for
Integrated Services for the Private Sector" (Hafez) platform, launched in
late 2023. The digital portal connects local companies, particularly SMEs, to
global development partners.
The platform features over 90 financing and technical
assistance tools from 50+ international partners. It has attracted nearly
50,000 users and lists more than 2,500 tenders for development projects in
Egypt and 80 other countries. Over 700 companies have already benefited from
its services to integrate into global markets.
The strategy is supported by legislative reforms and the
state's "State Ownership Policy," which outlines the government's
withdrawal from certain economic activities to make room for private
competition in manufacturing, technology, and renewable energy.
The seminar was attended by Public Business Sector Minister Mohamed Shimi and World Bank Country Director Stephane Guimbert, underscoring a coordinated effort between the government, international lenders, and the private sector to ensure projects are delivered on time and with sustainable impact.