Sayed Ismail, advisor to the minister of housing and utilities sector, said that his ministry needs international support to complete the sewage networks in Egyptian villages through the private sector partnership in collaboration with international financial institutions.
The Ministry of Investment and International Cooperation organised a workshop to discuss the international partnership for boosting developmental cooperation and private sector participation in collaboration with several governmental officials, including from the ministries of housing, environment, and others, as well as the international financial institutions’ representatives, including the European Bank for Reconstruction and Development (EBRD),World Bank Group, United States Agency for International Development (USAID), and others, according to a Saturday ministerial press statement.
Ismail noted during his participation in the workshop that his ministry appreciates the financial support given to it through the Ministry of Investment and International Cooperation during the past three years, explaining, “There is a joint cooperation between the ministries of housing and investment and international cooperation to support implementation of development projects, which benefit Egyptian citizens.”
For her part, Minister of Investment and International Cooperation Sahar Nasr said that the Egyptian authorities place investment in citizens as a top priority, explaining that organising the workshop aimed at prioritising the current government’s goals and including them into the international institutions agenda.
“The government will achieve its development goals through the private sector and NGO partnerships,” mentioned Nasr, adding that the New Investment Law allowed investors to allocate part of their profits for development of the society.
Nasr affirmed that achieving development requires integrated and collaborative efforts from stakeholders, including governments, private sector firms, development partners, non-governmental organisations, and research centres.
The New Investment Law offers incentives for investing in the neediest areas, boosting private sector participation in the prioritised field, encouraging corporate social responsibility (CSR) activities, and increasing the entrepreneurship activities of women and youth, added Nasr.