Maait Reviews State Efforts To Attract Local, Foreign Investment


(MENAFN- Daily News Egypt)

Mohamed Maait, the Minister of Finance, participated Sunday in the eighth Arab Fiscal Forum and will join Monday the World Governments Summit in Dubai. He is expected to hold several bilateral meetings with his counterparts from the participating countries.

The Finance Minister is keen to deepen cooperation and exchange views on common issues and priorities, such as global economic changes, geopolitical tensions, and the pressures they create on the budgets of different countries. These pressures affect the provision of basic needs for citizens, such as food and fuel, which have faced an unprecedented inflationary wave, as well as the rising cost of financing in international markets.

The Finance Minister will showcase, during these events and meetings, the efforts of the Egyptian state to create a favourable environment for local and foreign investment by accelerating the implementation of structural reforms. These reforms aim to open up more space for the private sector, increase its contribution to economic activity, and enhance investment flows.

Maait will speak at the eighth 8th Arab Fiscal Forum, which has the theme of“Designing More Efficient Financial Policies to Address Debt and Future Financial Issues, in Light of Tighter Financing Constraints, Support Roles, Tax Management, and Public Sector Institutional Reforms.” He will share the Egyptian state's vision to increase local revenues and create financial spaces to strengthen the social protection network that mainly targets citizens who need care.

The Finance Minister will also review, at the Climate Financing Session of the World Governments Summit, the Egyptian efforts in climate adaptation and the goal of becoming a regional hub for green hydrogen production. He will highlight the Egyptian incentives to support clean investment activities and promote the transition to a green economy.

MENAFN11022024000153011029ID1107839221


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.