Private sector now 63% of Egyptian investment, Al-Mashat says
Al-Mashat made the announcement during a meeting with the British Egyptian Business Association (BEBA), highlighting the shift as a key indicator of Egypt's economic progress. Speaking at BEBA's annual Sohour ceremony, she emphasized the government's aim to transition towards an economic growth model based on manufacturing, exports, and tradable sectors.
Al-Mashat also emphasized that the diversity of the Egyptian economy presents significant opportunities to enhance Egypt's regional position, particularly in the energy and logistics sectors.
'We aim to shift towards an economic growth model based on manufacturing, export, and tradable sectors,' Al-Mashat said. 'Integration among Economic Group Ministries [is key] to adopt policies that enhance the confidence of the business community and the private sector and stimulate investments.'
The minister pointed to the government's efforts to consolidate macroeconomic stability through clear policies, including the implementation of Egypt's National Structural Reform Programme. She also noted the IMF's approval of the fourth review of Egypt's program and the decrease in inflation rates as factors boosting investor confidence.
She added that 45.3% of government investments in the upcoming fiscal year's plan are directed towards human development, compared to 42% in the current fiscal year, with 35% for industrial development and 19% for local development.
Regarding financing for development, Al-Mashat said that blended financing to stimulate private sector investments amounted to about $4.2bn during 2024, while the total concessional development financing from development partners to the private sector in Egypt from 2020 to 2024 amounted to about $14.5bn.
Al-Mashat emphasized that the ministry is working to attract more development financing to the private sector through the 'HAFIZ' platform. The meeting also covered developments related to the implementation of the country platform for the 'NWFE' program and the volume of investments attracted by the platform in the renewable energy sector. Preparations are underway for the launch of Egypt's Integrated National Financing Strategy for development and the ministry's annual report for 2024.
Al-Mashat underscored the strong trade and investment partnership between Egypt and the United Kingdom, with trade exchange reaching approximately £4.7bn last year. She noted the UK is one of the largest investors in Egypt through various private sector companies, and highlighted the British International Investment (BII), which has an investment portfolio of approximately £547m in 64 companies in Egypt.
The event was attended by British Ambassador to Egypt Gareth Bayley, BEBA Chairperson Khaled Nosseir, former Minister of Petroleum Tarek El Molla, former Minister of Tourism Hisham Zaazou, and representatives of the business community and financial institutions.
© 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).
Daily News Egypt
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Today
4 hours ago
- Gulf Today
Sharjah's Central, Eastern regions realty transactions hit Dhs1.6 billion
Sharjah: According to the 'Real Estate Transactions Report' issued by Sharjah Real Estate Registration Department (Sharjah RERD), the total value of real estate transactions in Sharjah's Central and Eastern Regions during the first half of 2025 has reached Dhs1.6 billion, reflecting a significant increase of 143 per cent compared to the same period in 2024. In addition, the report indicated that a total of 12,346 transactions were registered through the department's branches, with a total area of sales transactions amounted to 22 million square feet. Omar Al-Mansouri, Director of the Branches Department at Sharjah Real Estate Registration Department, stated: 'The exceptional growth in real estate transactions across the Central and Eastern Regions during the first half of 2025 indicates increasing investor confidence in the real estate market throughout the cities and areas of Sharjah." "This performance is driven by several integrated factors, most notably the ongoing development of vital infrastructure projects, well-planned urban expansion, and the investment incentives launched by the Sharjah Government to promote property ownership across the emirate.' Al-Mansouri added: 'We have observed a strong increase in demand for property ownership in real estate projects in the Central and Eastern regions. This growth is the result of continued improvements in living standards and the rollout of smart services, along with the peaceful environments that these cities offer. For instance, the Central Region alone recorded real estate transactions exceeding Dhs 1 billion, indicating a gradual shift in investment trends toward these high-potential areas.' Moreover, the Director of the Branches Department confirmed: 'The department remains committed to supporting this momentum by improving branch services, streamlining procedures, and advancing digital integration. These efforts enhance the sector's competitiveness and align with Sharjah's broader development strategy.' In detail, Al-Mansouri explained that the total transaction value recorded at the four branches represented 5.8% of Sharjah's overall real estate trading value during the first half of 2025. The Central Region accounted for Dhs 1.1 billion in transactions, equivalent to 4.2 per cent of the emirate's total trading value. Khor Fakkan followed with Dhs294.8 million (1.1 per cent), Kalba with Dhs 117.9 million (0.4 per cent), and Dibba Al-Hisn with Dhs 11 million (0.1 per cent). Furthermore, Al-Mansouri indicated that the number of sales transactions in the Central Region has reached 493, covering 39 different areas, with a total value of Dhs 477.9 million. 44.4 per cent of these were recorded in 'Industrial Area 1' and 'Al-Blida', with a total of 219 transactions. Additionally, Khor Fakkan registered 126 sales transactions across 24 areas, with a a total value of Dhs107.8 million. 35 transactions (27.8 per cent) took place in 'Al-Harai Industrial' and 'Al-Harai Commercial' areas. In Kalba, 100 transactions were recorded across 26 areas, totalling Dhs62.3 million. 30 of these transactions were in 'Al-Tarif 5' area representing 30 per cent of the total transactions. As for Dibba Al-Hisn, 7 sales transactions were recorded, with a total value of Dhs6.6 million. The total value of mortgage transactions in the Central and Eastern Regions reached Dhs178 million during the same period, through 215 transactions. This included 76 mortgage deals in Kalba, 68 in Khor Fakkan, 65 in the Central Region, and 6 in Dibba Al-Hisn. As for the initial sales contracts, they reached 581 across the Central and Eastern Regions, with a total value of Dhs 732 million. 520 contracts were concluded at the Central Region branch, while 61 were registered in Khor Fakkan. Meanwhile earlier the Sharjah Real Estate Registration Department (SRERD) announced the launch of the upgraded version of its website ( in a step aimed at enhancing the quality of real estate services and offering a fully integrated digital experience for all customers. The new website features a modern interactive design that keeps pace with the digital transformation and meets the needs of investors and stakeholders in the real estate sector in the emirate with the highest levels of efficiency and ease. It serves as a practical translation of the Sharjah Government's vision and directives to deliver smart, advanced services that enhance the attractiveness of the real estate market and support a sustainable investment environment. Providing Smart and Flexible Real Estate Services In this context, Abdulaziz Ahmed Al-Shamsi, Director General of the Sharjah Real Estate Registration Department, said: 'The upgraded website represents a new milestone in our journey toward full digital transformation. It reflects our commitment to providing smart and flexible real estate services that meet the aspirations of various categories of clients—including individuals, real estate developers, companies, homeowners' associations, banks, and others—which reinforces Sharjah's position as a leading real estate hub in the region'. For her part, Salwa Al-Mahri, Director of IT Department, stated: 'The comfort and satisfaction of our clients are among our top priorities.' 'We strive to provide information and channels to access and obtain services around the clock, with high quality, minimal effort, and in the shortest time possible.' Staff Reporter, Gulf Today
Khaleej Times
9 hours ago
- Khaleej Times
NMDC Group net profit gains 20% year on year to Dh1.8 billion
NMDC Group on Wednesday announced that H1 2025 net profit rose 20 per cent to Dh1.8 billion, demonstrating improving operational and net profit margins. With an expanding geographical footprint and capitalising on the infrastructure development in the Mena region, the group reported revenue of Dh13.4 billion, representing a 10 per cent year-on-year increase. NMDC Group's proven ability to deliver turnkey solutions has driven continued progress and steady growth, with a backlog of Dh66.2 billion and Dh15.1 billion in awarded projects. The group continues to build its pipeline of projects, valued at around Dh100 billion. In Q2 2025, group revenue rose 5 per cent year on year to Dh7.1 billion, while net profit came at Dh971 million, up 18 per cent year on year, reflecting operational discipline and margin expansion. Mohamed Thani Al Rumaithi, Chairman of the Board of Directors, NMDC Group, said: 'NMDC Group continues to play a central role in advancing the UAE's industrial strategy, guided by our clear vision of delivering innovative solutions shaping the future. Our strong H1 performance reflects disciplined execution, strategic partnerships and a clear focus on national value. Beyond financial growth, we are expanding the country's industrial base and strengthening our position as a trusted platform for global investment and sustainable growth.' Eng. Yasser Zaghloul, Group CEO, NMDC Group, added: 'Our H1 performance reflects the strength of our operating model and our ability to execute at scale. We have expanded technical capacity, accelerated localization and deepened our delivery footprint across key markets. Our strategic partnerships are already translating into new opportunities and long-term value. As demand for complex infrastructure grows, NMDC Group is leading – with speed, precision and impact.' In Q2 2025, NMDC LTS business unit completed the acquisition of a 70 per cent stake in Emdad, a UAE based integrated oilfield service provider; the transaction unlocks new opportunities and diversifies the Group's portfolio into opex-driven oilfield services. During Make it in the Emirates (MIITE) 2025, the Group signed five strategic agreements, aiming at exploring joint ventures that expand manufacturing in the UAE and support the growth of regional infrastructure, underscoring the Group's ability to translate international partnerships into local industrial growth. Building on 50 years of growth and operational excellence, this latest chapter showcased the Group's continued progress in delivering on its strategy of securing sustainable growth, diversifying its capabilities, and reinforcing its leadership in the marine and energy sectors. Looking ahead, NMDC Group's strategic objectives remain focused on driving revenue growth by cementing its position in the local market and expanding into new verticals and geographies.
Zawya
9 hours ago
- Zawya
UAE non-oil foreign trade exceeded $470.3bln in H1 2025: Sheikh Mohammed
DUBAI - His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has said that the UAE, under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, has continued on its path to become a major trading nation, a reliable trading partner for the world's largest economies and a gateway to facilitate trade flows around the world. In a tweet on the "X" platform, His Highness said, "Today, I reviewed our non-oil foreign trade data for the first half of 2025. In the first six months of this year, we achieved more than AED1.7 trillion, with a record growth of 24% compared to the first half of 2024, which itself was an exceptional year for our national economy. We recorded double what we achieved in the first half of 2021 and continued the unprecedented boom in our trade with historic growth rates of 59.5% and 37.8% compared to the first half of 2022 and 2023, respectively.' His Highness Sheikh Mohammed bin Rashid Al Maktoum added, 'In September 2021, we launched the Comprehensive Economic Partnership Agreement (CEPA) programme to expand our network of trading partners around the world. Our non-oil foreign trade continues to reap the benefits of this programme, under which we have concluded 28 agreements to date, 10 of which have entered into force. This means we can offer unhindered customs access to markets where nearly 3 billion consumers live.' His Highness Sheikh Mohammed bin Rashid Al Maktoum praised the UAE's non-oil exports, which increased their contribution to total non-oil foreign trade to 21.4% for the first time in the country's history, compared to 18.4% in the first half of 2024. The UAE's non-oil foreign trade for the period from January 1 to June 30 2025 showed the continuation of its upward trajectory, recording about AED1.728 trillion (equivalent to USD$470.3 billion), with a growth of 24% year-on-year, compared to the first half of 2024, and growth on a semi-annual basis of 9.1% compared to the second half of 2024. The UAE's non-oil foreign trade continued to achieve record and unprecedented growth rates, recording an increase of 37.8% and 59.5% in the first half of 2025 compared to the same period in 2023 and 2022 respectively. Trade output is double the figure achieved in the first half of 2021 and was more than double the figure recorded in the first half of 2019. The UAE's non-oil exports reached AED369.5 billion during the first half of 2025, with a growth rate of more than 44.7% – for the first time in the country's history –, as well as a growth rate of 80% when compared to the first half of 2023. This level is more than double the value of non-oil exports during 2022, more than double 2021's level and 3 times larger than in 2020 and 2019. Non-oil exports increased during the first half of 2025 at a record rate of 210.3% compared to the same period in 2019. Non-oil exports were the best performers among the UAE's foreign trade during the first half of 2025, contributing 21.4% of the UAE's total non-oil trade. This was higher than the contribution in the first half of 2024 and 2023, where it was 18.4% and 16.4%, respectively. The most important destinations for the UAE's non-oil exports during the first half of 2025 were Switzerland, followed by India second, Turkey third, and Hong Kong-China fourth. Thailand, Switzerland and India recorded the highest growth rates among the recipient markets for UAE exports. Among the top 10 recipients of the UAE's non-oil exports, CEPA partners amounted to AED85.02 billion, with a growth of 62.8% and a 23% share of the UAE's non-oil exports. India received a value of AED51.45 billion, a growth of 97.6% compared to 2024 for the same period, followed by Turkey with a value of AED27.2 billion and a growth of 24.1%. Exports to these ten countries with which CEPAs came into force increased 3 times compared to the exports recorded in 2022 and 2021 and exceeded 4 times the exports in 2019. The value of re-exports also continued its upward trajectory, reaching AED389 billion during the first half of 2025, with a growth of 14%, 15.8% and 25.4% compared to the same periods in 2024, 2023 and 2022. respectively. The re-exports of the top 10 partner nations recorded a growth of 16.5%. Re-exports of the rest of the world recorded a growth of 12% compared with the first half of 2024. The UAE's imports of non-oil goods amounted to AED969.3 billion during the first half of 2025, a growth rate of 22.5% compared to the same period in 2024, while the UAE's imports from the top 10 trading partners increased by 20.8% and with the rest of the world by 24.3%. The UAE's non-oil trade with the country's top 10 trading partners around the world continued its upward trajectory in the first half of 2025 with a growth of 25.5% and an increase of 23.6% with the rest of the countries. Trade with India increased by 33.9%, with China by 15.6%, with Switzerland by 120%, and with Saudi Arabia by 21.3% compared to the same period in 2024. Trade with Turkey also saw a 41.4% rise, while the UAE's non-oil trade with the United States of America witnessed a growth of 29% and ranked sixth among the country's top 10 trading partners around the world. France also entered the top 10 list in the first half of 2025.
