Latest news with #humanDevelopment
Argaam
22-05-2025
- Business
- Argaam
ASG pens MoU with Majmaah University
ASG Plastic Factory Co. signed a memorandum of understanding (MoU) with Majmaah University, a statement said to Tadawul. The agreement aims to support cooperative training programs, provide job opportunities for graduates in various fields within the company, and promote the exchange of expertise and the development of academic programs. According to the statement, ASG stated that the MoU includes collaboration between both parties in various areas, including services, administration, education, research, training, and community service. It also covers the provision of mutual support, assistance, and technical and professional consultation, based on their available resources and capabilities. The company noted that this agreement represents a significant step towards building a support system for localization initiatives and human development, contributing to the achievement of Saudi Vision 2030 goals through sustainable cooperation with academic institutions. ASG further highlighted that the MoU focuses on achieving mutual benefit by utilizing all available resources within each party's field of expertise, exchanging knowledge, and contributing to the development of academic programs aligned with labor market needs. It also aims to activate employment and training programs to qualify national cadres and empower Saudi youth to successfully integrate into the workforce. The company clarified that the agreement holds no financial value, as it is based on service exchanges between the parties. Any financial implications resulting from the agreement will be disclosed in due course if they arise, the statement said, adding that there are no related parties to the 12-month MoU.
Zawya
19-05-2025
- Business
- Zawya
Egypt allocates $14bln in investments for human development sectors in FY2025/26 plan
Arab Finance: Egypt has allocated EGP 700 billion in investments for human development sectors, including education, health, and other social services, for the fiscal year (FY) 2025/2026 plan, Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, announced. This is compared to investments worth EGP 447 billion in the FY 2024/2025 plan, marking an increase of more than 56% of the total. Al-Mashat's remarks came during her speech during the Senate plenary session, chaired by Abdel-Wahab Abdel-Razeq. In the FY 2025/2026 development plan, a total of EGP 327 billion has been allocated for public investments in the health, education, scientific research, and other services sectors, representing over 28% of public investments for the same year. The minister reviewed the pillars of the FY 2025/2026 plan and affirmed the commitment to rationalizing public spending and boosting its efficiency, while developing and localizing the manufacturing industry. Al-Mashat addressed the economic reforms taken since March 2024, asserting that these measures improved the performance of the Egyptian economy. This was reflected during the first and second quarters of FY 2024/2025, recording a growth rate of 3.5% in Q1 and 4.3% in Q2. The economic growth is expected to reach approximately 4% during the year. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
19-05-2025
- Business
- Zawya
Egypt targets $14bln for human development in FY 2025/26 plan, Al-Mashat says
Egypt plans to allocate EGP 700bn for total investments in human development in its FY 2025/26 plan, Minister of Planning, Economic Development and International Cooperation Rania Al-Mashat said during a presentation to the Senate. Presenting the draft plan for economic and social development for the upcoming fiscal year, Al-Mashat stated that the government 'began correcting the economic course in March 2024 with integrated policies and measures.' She added that 'the fruits of reform are evident in the improvement of economic growth indicators in the first half of the fiscal year, supported by non-petroleum manufacturing industries.' The minister noted that the plan document 'follows a balanced approach that strengthens Egypt's economic resilience amid crises, disturbances, and geopolitical tensions,' and affirmed that 'the government is determined to continue the necessary measures to improve the investment climate and stimulate the private sector.' Al-Mashat delivered the statement before the Senate's plenary session, chaired by Counselor Abdel-Wahab Abdel-Razeq. She expressed appreciation to Abdel-Razeq and Senate members for their efforts in establishing democratic pillars and constructive discussion. She also thanked Hani Sari El-Din, Chair of the Financial and Economic Affairs Committee, and other committee heads for their input on the draft plan. Exceptional Timing and Reform Efforts Al-Mashat reaffirmed that the economic and social development plan for the upcoming fiscal year comes at an 'exceptional time' for the Egyptian economy, amidst regional and global transformations. She stated that Egypt has managed to break free from a 'vicious cycle' affecting the economy in recent years. Since March 2024, the government has initiated corrective measures based on consistent fiscal and monetary policies, strict governance of investment spending, and policies stimulating foreign investments, Al-Mashat said. These efforts are supported by the implementation of the national structural reform programme, aiming to solidify macroeconomic stability. The minister pointed to a 'noticeable improvement' in the Egyptian economy's performance, reflected in economic indicators showing growth of 3.5% in the first quarter and 4.3% in the second quarter of FY 2024/25, with an expected growth rate of about 4% for the year. This growth was primarily driven by non-oil manufacturing, a recovering tourism sector, and growth in communications and IT, despite external tensions affecting Suez Canal activity, she added. Plan Framework and Pillars Al-Mashat noted that the new draft plan is the first prepared by the ministry since the merger of the ministries of planning and economic development with international cooperation. It aligns with the ministry's new framework, 'Sustainability and Financing for Economic Development,' which links national and sectoral development plans and aims to maximise local and foreign financing sources and improve resource utilisation. The plan maintains public investment limits in line with fiscal discipline goals, aiming to create space for macroeconomic stability and allow the private sector to lead development. It is prepared within a medium-term budget framework (FY 2025/26-FY 2028/29) and incorporates advanced planning tools to improve public investment efficiency and performance monitoring. The plan is based on the continued implementation of the national structural reform programme, focusing on macroeconomic stability, competitiveness, business environment improvement for private sector participation, and a green economy transition. It also draws on the report 'Advancing Economic Development in Egypt: Reforms for Growth, Jobs & Resilience' to shift towards an economic model based on sustainable growth in tradable and exportable sectors. Key pillars of the FY 2025/26 plan include rationalising public spending, stimulating local manufacturing and innovation-based industries, and prioritising human development. The EGP 700bn allocated for total investments (private and public) in human development sectors (education, health, and other social services) in the FY 2025/2026 plan compares to EGP 447bn in the FY 2024/25 plan, an increase of over 56%. Public investments in these sectors are set at about EGP 327bn, representing over 28% of total public investments for the year. Improving Investment Climate Al-Mashat reiterated that the plan includes measures to improve the investment climate and stimulate the private sector through facilities and incentives. She noted ongoing negotiations with development partners to provide financing for the private sector, reflecting its attractiveness and the success of state-led structural reforms. The plan also focuses on stimulating innovation and entrepreneurship through the Ministerial Group for Entrepreneurship, aiming to enhance the capacity of startups and the entrepreneurship ecosystem.
Zawya
15-05-2025
- Health
- Zawya
Egypt's President pushes for accelerated health, education reforms, AI integration
Egypt's President Abdel Fattah Al-Sisi held a series of high-level meetings on Wednesday to assess progress in Egypt's human development strategy, with a particular focus on healthcare, population policy, and education reform. Meeting with Prime Minister Mostafa Madbouly and Deputy Prime Minister for Human Development and Minister of Health and Population Khaled Abdel Ghaffar, the president reviewed initiatives under the National Project for Human Development. These efforts include the rollout of 300 integrated development centers, expansion of early childhood services through increased nursery capacity, and holistic programs targeting physical, mental, and social health—aligned with Egypt's Vision 2030. Presidential spokesperson Mohamed El-Shenawy reported that Minister Abdel Ghaffar provided updates on the national population strategy, part of the presidential 'Bedaya' initiative aimed at improving demographic indicators. Progress includes declines in child stunting, obesity, and anemia, alongside a projected reduction in the annual population growth rate to 1.34% in 2025, down from 1.4% the previous year. Al-Sisi also reviewed the status of healthcare infrastructure projects across 11 governorates. In FY 2025, Egypt will complete the construction or renovation of 20 hospitals at a cost of EGP 11.7bn, adding nearly 2,650 beds—including 458 intensive care, 442 neonatal, and 1,749 inpatient beds. These facilities will also be equipped with 542 dialysis units and 95 operating rooms, with completed projects in South Sinai, Gharbia, Minya, Qena, Assiut, Ismailia, and Aswan. The president received a briefing on Phase Two of the Universal Health Insurance System, which covers Damietta, Kafr El-Sheikh, Minya, Matrouh, and North Sinai. The plan includes upgrading 11 hospitals and constructing 19 new ones, with total capacity expected to reach 10,517 beds. Additionally, 534 new primary care units are being built, bringing the national total to 669. The estimated budget for this phase is EGP 115bn. Stressing the importance of timely and high-quality implementation, Al-Sisi also reviewed the national digital health transformation plan. Key elements include electronic health records, artificial intelligence integration, a national health information exchange, and global partnerships to ensure long-term sustainability. In a key directive, Al-Sisi instructed officials to explore the integration of artificial intelligence as a mandatory subject in school curricula—underscoring a shift toward future-focused education. The president also reviewed the progress of 15 presidential health initiatives covering all age groups. To date, more than 234 million health services have been delivered through 3,527 facilities. The 'Ending Surgical Waitlists' initiative has served nearly 2.7 million patients since 2018, and over 2.1 million individuals have received state-funded treatment in 2025 alone, costing EGP 23.2bn. The discussions also touched on Egypt's drive to localize pharmaceutical and medical device production. Al-Sisi called for new incentives to attract investment in this critical sector, aiming to meet domestic needs and expand exports. He also urged improvements in working conditions for healthcare professionals, along with greater access to advanced training—especially in AI-powered medical applications. In a separate meeting, Al-Sisi discussed educational reform with Minister of Education Mohamed Abdel Latif and Egyptian Military Academy Director Lt. Gen. Ashraf Salem Zaher. The talks focused on improving teacher selection and training, with new frameworks emphasizing academic, technical, and personal development through national institutions and training centers. Reaffirming the state's commitment to education reform, Al-Sisi emphasized the importance of developing the human element. 'Teachers are the cornerstone of the education system,' he said, calling for continued support, objective recruitment processes, and sustained investment in teacher development.
