25 February 2021 03:54 PM

Mashat calls for boosting multilateral cooperation for int’l growth, development

Thursday، 28 January 2021 - 12:02 PM
International Cooperation Minister Rania el Mashat

International Cooperation Minister Rania el Mashat called on Wednesday 27/1/2021 for boosting the partnership between the governments and the private sector, saying such a move could spur development process in the post-coronavirus era.


El Mashat’s remarks came during her participation in the 4th edition of the Future Investment Initiative (FII) conference, hosted by Riyadh on January 27-28.


Such partnership could speed up the pace of development, the international cooperation minister said, stressing the importance of observing the environmental criteria in new investments to shore up the green recovery.


Reforms should always be sustainable and adaptive to enable economies absorb different traumas, el Mashat said.


Earlier last year, the world witnessed isolation amid the global outbreak of coronavirus pandemic, but the economies have swiftly coped with these circumstances by supporting multilateral cooperation through innovation.


Egypt’s reforms and development projects, implemented in various sectors in previous years, have helped the country absorbing the coronavirus shocks and alleviate their economic impacts, the minister said.


El Mashat cited that Egypt has managed to achieve a growth in 2020, despite the widespread recession in peer economies, due to the coronavirus pandemic, a result praised by different international agencies, which also estimated a continued growth and recovery for Egypt.


FII is bringing together over 140 private sector leaders, policy makers, investors and other stakeholders to express support for multilateralism and provide relevant policy recommendations to ensure effective and productive collaboration within public-private investment mechanisms.


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