Cairo: Egypt is set to undergo a significant economic transformation by shifting towards a new, private sector-led economic model, as announced by the country’s Minister of Planning, Economic Development and International Cooperation, Rania el Mashat. This strategic move is part of Egypt’s National Narrative for Economic Development, with a strong emphasis on boosting production and exports.

According to State Information Service Egypt, the minister outlined the country’s ambitious targets during her virtual address at the second Cairo Forum, organized by the Egyptian Center for Economic Studies. By 2030, Egypt aims to increase private investments to 66% of total investments, with the private sector’s contribution to the gross domestic product (GDP) reaching 82%.

The minister emphasized the importance of public investment governance, which will focus on redirecting capital towards critical sectors such as health, education, and stimulating private sector growth. In addition, Egypt plans to enhance private sector participation by utilizing innovative risk-reduction tools. These tools will be developed in collaboration with development finance institutions, including investment guarantee mechanisms with the World Bank, the European Union (EU), and the European Bank for Reconstruction and Development (EBRD).