Latest news with #CountryStrategy
See - Sada Elbalad
14-04-2025
- Business
- See - Sada Elbalad
Al Mashat Witnesses the Official Launch of Digital One-Stop Shop Services in the SCZone
Rana Atef Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation; Eng. Walid Gamal El-Din, Chairman of the General Authority for the Suez Canal Economic Zone (SCZone); and Mark Bowman, Vice President of the European Bank for Reconstruction and Development (EBRD), witnessed the launch of digital one-stop shop services for investors in the Suez Canal Economic Zone. This comes within the framework of the second phase of digitizing investor services in cooperation with the EBRD, and the Country Strategy for the period 2022-2027, which enhances efforts to stimulate the private sector, green transition, and support inclusive and sustainable growth. Dr. Rania Al-Mashat emphasized the importance of this package of digital services launched by the General Authority for SCZone through the "One-Stop Shop." This initiative is part of the ongoing fruitful relations with the EBRD and the technical support services it provides to the SCZone, which boost the region's position as a global logistics hub attractive to investments. The Minister of Planning, Economic Development and International Cooperation pointed out that these measures improve the state's efforts to create an attractive investment and business climate that is more competitive for local and foreign investments. Dr. Al-Mashat highlighted that the automation of services provided by the General Authority for the SCZone intensifies the region's competitiveness as a global logistics hub and supports its ability to attract investments by facilitating licensing services and other services to reduce the time and effort consumed by traditional services. Minister Al-Mashat noted that these new services are part of the structural reforms that the government is working to implement to sustain macroeconomic stability. Dr. Al-Mashat added that the launch of this package of services represents a significant milestone in the efforts of digitization and digital transformation in general. She indicated that this phase also includes a range of one-stop shop services, which include permanent operating licenses by notification and annual follow-up of establishments holding operating licenses, in addition to other services that will be launched gradually, including temporary operating licenses by notification, permanent operating licenses - prior licensing, modification of operating license management, modification of technical operating license, and building permits. Minister Al-Mashat pointed out that the European Bank for Reconstruction and Development is implementing several projects in cooperation with the General Authority for the SCZone in the fields of green hydrogen, seawater desalination, and other priority sectors. Dr. Al-Mashat affirmed the Egyptian government's continued vigorous efforts to achieve structural and institutional reform, aiming to bring about a qualitative leap in various aspects of development, with a focus on improving the efficiency of public institutions as a key part of achieving structural reform of the Egyptian economy. In this context, the government focuses on developing the competencies and human capacities in public institutions through investment in education and training, and the modernization of infrastructure. Minister Al-Mashat mentioned that facilitating services provided to investors and enhancing ease of doing business enables the state to achieve its goals in terms of increasing investments, attracting the private sector, and shifting from non-tradable sectors to tradable sectors, particularly industry and export, which supports the structural transformation of the Egyptian economy. DR. Al-Mashat valued the partnership with the EBRD, noting that the Bank's total investments have exceeded approximately 13 billion euros since 2012, 80% of which went to the private sector. The projects vary in infrastructure fields such as renewable energy projects, sustainable transport, green hydrogen, and other projects, in addition to digital infrastructure and advisory and technical support services for many national entities. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Arts & Culture Arwa Gouda Gets Married (Photos)
Zawya
10-04-2025
- Business
- Zawya
Arab Fund launches a five-year country partnership strategy with Jordan
The Country Strategy will be supported by a financing package of $690 million The Joint Declaration for the launching of the Country Partnership Strategy (CPS) for Jordan (2025-2029) along with a loan agreement were signed on the sidelines of the joint annual meetings of Arab Financial Institutions in Kuwait. The joint annual meetings were held under the auspices of H.E. Prime Minister of Kuwait Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah, and in the presence of H.E. Sheikh Fahad Yousef Saud Al-Sabah, Acting Prime Minister and Minister of Interior, who delivered the opening remarks, and H.E. Eng. Noora Al-Fassam, Minister of Finance, and Minister of State for Economic Affairs and Investments. Kuwait – The Arab Fund for Economic and Social Development signed today a Joint Declaration with the Hashemite Kingdom of Jordan, represented by H.E. Zeina Toukan, Minister of Planning and International Cooperation, marking the launch of Arab Fund's 1st Country Partnership Strategy (CPS) to support Jordan's economic resilience and promote inclusive growth. A KWD21 million loan agreement was signed marking the start of the Country Strategy. The CPS encompasses a financing package of KWD211 million (about $690.2 million), that may increase to support Jordan's resilience in response to unforeseen economic shocks. In addition, the Arab Fund will leverage its partnerships with other development partners, mobilizing more financial resources to implement the strategy. Badr Al-Saad, Director General and Chairman of the Board of the Arab Fund for Economic and Social Development, stated that the strategic partnership with the Hashemite Kingdom of Jordan marks a significant milestone in the Fund's ongoing commitment to fostering sustainable development across the Arab world. 'By focusing on key areas such as infrastructure, education, and private sector growth, we aim to contribute to inclusive and sustainable economic progress, aligning with our vision for a prosperous and interconnected future', he added. Country Partnership Strategy aims to strengthen development relations between the two parties and respond to Jordan's needs and priorities based on the Economic Modernization Vision 2033. It will focus on two main pillars: Improving social services — including water supply infrastructure, improving production of renewable energy and export of electricity, and improving TVET education. This will support enhancing access to quality social services through public-private partnerships, particularly in health and early childhood education, and developing digital infrastructure and boosting digital skills needed for the digital economy among youth and women. Unlocking the potential of the private sector through investment in high-value industries and support for SMEs and startups. This aims to unleash private sector potential through impactful investments in targeted sectors, as well as financing SMEs and innovative startups and exports. The loan from the Arab Fund will finance constructing an onshore gasification unit to convert natural gas from liquid to gas and its connection to gas pipelines, reinforcing Jordan's resilience against energy supply disruptions. The project is expected to be completed by the end of 2027. The CPS will support Jordan in narrowing the gaps across six sustainable development Goals: SDG 3: Good Health and Wellbeing; SDG 4: Quality Education; SDG 6: Clean water and sanitation; SDG 7: Affordable and Clean Energy; SDG 8: Decent Work and Economic Growth and SDG9: Industry innovation and infrastructure. The Arab Fund has been a long stand supporter to Jordan since the establishment of the Fund in 1974, providing 817.1 million Kuwaiti Dinars (approximately $2.67 billion) and covering key sectors such as energy and electricity, agriculture and rural development, social services, as well as transport, water and sanitation, industry, and mining.
