Egypt’s Minister of Planning and Economic Development Hala El-Said, confirmed an increase in the share of green investments in total public investments gradually from 15% during 2020-2021 to 40% during 2022-2023, adding that the target is to reach 50% by 2024-2025 and to increase electricity generation from new and renewable energy sources to 42% by 2035.
This was stated during the launch of the Green Growth Policy Review Report in Egypt, prepared by the Organization for Economic Cooperation and Development (OECD) under the bilateral program between Egypt and the organization.
The event was attended by Minister of Environment Yasmin Fouad, Matilda , Deputy Head of the Environment Directorate at OECD Matilda Mesnard , along with representatives from various ministries and sectors.
El-Said emphasized the importance of the event and the launch of the Green Growth Policy Review Report as one of the key outputs of the bilateral program with OECD. This program includes 35 cooperation projects under five main pillars: comprehensive and sustainable economic growth, technology, innovation and digital transformation, governance and anti-corruption, statistics and monitoring, and sustainable development.
She highlighted that the bilateral program was launched in October 2021 after the signing of a memorandum of understanding by Prime Minister Mostafa Madbouli and OECD Secretary-General Matthias Cormann. The Ministry of Planning and Economic Development oversees the implementation of the program aimed at supporting Egypt’s priorities in achieving comprehensive and sustainable development according to Egypt Vision 2030. This includes providing technical support to formulate, implement, and monitor the national program for structural reforms in line with international standards.
She discussed significant achievements recently attained within the program, noting the launch of Egypt’s first economic report prepared by OECD and the utilization of recommendations to activate policies and measures according to a specific timeline. This is in line with directives from the Prime Minister regarding the importance of monitoring the implementation of recommendations within national programs and plans developed by Egyptian authorities.
She confirmed that the Ministry of Planning and Economic Development continues to monitor the implementation status of all recommendations in the report and maintains communication with the OECD team to provide necessary technical support to support the national program for structural reforms.
El-Said also explained that the economic report provided recommendations to enhance the performance of the Egyptian economy in several important areas, including achieving macroeconomic stability, increasing the efficiency of fiscal and monetary policies, enhancing the investment environment, increasing private sector participation in the economy, improving labor market efficiency, creating decent job opportunities, and supporting the transition to a green economy.
She pointed out the launch of the Review Report on Artificial Intelligence in Egypt as one of the key outputs of Project 2.2 under the second axis of the bilateral program “Innovation and Digital Transformation.” She emphasized the importance of this report as an effective tool for evidence-based policy formulation and implementation of the second phase of the National Artificial Intelligence Strategy.
El-Said added that several important projects are currently being finalized, including the enhancement of productivity with a focus on the industrial sector, the review of higher education and innovation policies, and Egypt’s inclusion in the Value Added Trade Database expected to be completed by the end of the current year. Additionally, the first technical report on Business Dynamics Review is planned to be launched at the beginning of 2025.
Regarding the review of green growth policies in Egypt and their alignment with Egypt Vision 2030, the Minister explained that the OECD’s Green Growth Policy Review Report for Egypt provides detailed insights and specific recommendations on the roadmap to enhance green transformation in Egypt, with a particular focus on environmentally sustainable smart cities.
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