Egypt's Environment Minister urges stronger private sector role in green investment

Zawya

7 days ago

Egypt's Environment Minister Yasmine Fouad has called on the country's business community to take a more proactive role in advancing environmental and climate goals, stressing the importance of aligning private investment with national sustainability priorities.
Speaking at a high-level meeting with the Egyptian Businessmen's Association (EBA) in the New Administrative Capital on Sunday, Fouad underscored the ministry's evolution into a development partner. 'This ministry is no longer a roadblock to investment,' she said. 'Since 2019, we've repositioned ourselves as a strategic enabler of green growth and economic progress.'
The meeting brought together senior officials and leaders from key economic sectors to explore green investment opportunities and discuss how businesses can contribute to Egypt's environmental transition.
Fouad outlined a series of reforms designed to attract private investment in sectors such as waste management, eco-tourism, and industrial pollution control. She pointed to Egypt's successful model of converting rice straw into commercial products as an example of transforming environmental challenges into economic value.
To further accelerate green investment, Fouad announced the establishment of a new Environmental and Climate Investment Unit within the ministry. The unit will focus on identifying bankable green projects, preparing feasibility studies, and expediting the permitting process. She noted that environmental permits are now issued within seven working days, thanks to improved coordination with the Industrial Development Authority.
Other initiatives include the digitalization of the permitting process, targeted grants for pollution abatement, and sector-specific compliance guides to support businesses in reducing emissions and meeting sustainability targets.
EBA board members welcomed the ministry's new direction and praised the improved regulatory environment. They emphasized the importance of green standards for enhancing Egypt's export competitiveness and expressed strong support for expanding carbon credit trading to incentivize private-sector emission reductions.
The Association also offered its extensive nationwide network and 18 sector-specific committees to support joint awareness campaigns, training programs, and policy development in partnership with the ministry.
Fouad concluded the meeting by proposing the launch of a **National Environmental Dialogue for Business** during Egypt's World Environment Day celebrations on June 5. The initiative would bring together policymakers and the private sector to address climate-related issues, including the EU's Carbon Border Adjustment Mechanism (CBAM), green financing tools, and public-private partnership models.
'We welcome all ideas that protect the environment while driving inclusive and sustainable economic growth,' she said.