By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Connect with family and friends this Ramadan: How to manage the festivities with WhatsApp
    Connect with family and friends this Ramadan: How to manage the festivities with WhatsApp
    March 25, 2023
    Popular video-sharing app TikTok was granted by the U.S. government a 15-day extension to reach a deal with U.S. buyers, a federal court filing showed Friday. This means the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended from Nov. 12 to Nov. 27, according to the U.S. District Court for the District of Columbia.
    TikTok updates its community guidelines
    March 23, 2023
    IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
    IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
    March 23, 2023
    Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
    Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
    March 23, 2023
    EFG Hermes records EGP 11bn revenue in FY22
    EFG Hermes records EGP 11bn revenue in FY22
    March 23, 2023
  • Politics
    PoliticsShow More
    Egypt's Health Minister discuss bilateral cooperation with an Italian delegation 
    Egypt’s Health Minister discuss bilateral cooperation with an Italian delegation 
    March 23, 2023
    Egypt’s foreign minister phones Algerian counterpart over boosting ties
    Egypt’s foreign minister phones Algerian counterpart over boosting ties
    March 22, 2023
    Turkish President  Recep Tayyip Erdoğan and Egypt President Abdel-Fattah Al-Sisi met in Doha
    Opinion| Türkiye and Egypt: For better times with many opportunities
    March 22, 2023
    Drought caused 43,000 deaths in Somalia in 2022: UN
    Drought caused 43,000 deaths in Somalia in 2022: UN 
    March 22, 2023
    Opinion| The Chinese dragon occupies America's place in the Middle East
    Opinion| The Chinese dragon occupies America’s place in the Middle East
    March 22, 2023
  • Interviews
    InterviewsShow More
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    December 27, 2022
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Egypt, South Korea cooperate on capacity building for public finance management
Share
Notification
Latest News
Connect with family and friends this Ramadan: How to manage the festivities with WhatsApp
Connect with family and friends this Ramadan: How to manage the festivities with WhatsApp
Business Technology
Popular video-sharing app TikTok was granted by the U.S. government a 15-day extension to reach a deal with U.S. buyers, a federal court filing showed Friday. This means the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended from Nov. 12 to Nov. 27, according to the U.S. District Court for the District of Columbia.
TikTok updates its community guidelines
Business
Strong representation of women in TV series of Ramadan 2023
Strong representation of women in TV series of Ramadan 2023
Culture Cinema
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
Business
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Egypt, South Korea cooperate on capacity building for public finance management
Business

Egypt, South Korea cooperate on capacity building for public finance management

Daily News Egypt
Last updated: 2022/08/15 at 10:27 PM
By Daily News Egypt 5 Min Read
Share
Egypt, South Korea cooperate on capacity building for public finance management
SHARE

The Korea International Cooperation Agency’s (KOICA) office in Egypt — in partnership with the Korea Institute for Development Strategy (KDS) — kicked-off an online country training programme for the Ministry of Finance titled ‘Capacity Development of Public Financial Management’ from 1 to 11 August.

The three-year programme consists of capacity-building sub-programmes that will run till 2024.

On 10 August, KOICA Egypt and the Ministry of Finance hosted a closing ceremony for the first batch of trainees. The ceremony was attended by Ahmed Ashraf Kouchouk, Vice Minister of Finance for Fiscal Policies and Institutional Reform;  Choi Byoung Sun, Minister Plenipotentiary from the Embassy of the Republic of Korea; Kim Jinyoung, KOICA Egypt’s Country Director; and Doaa Hamdy Mounir, Head of the International Affairs Department.

During the ceremony, Kouchouk congratulated the trainees, saying that “this capacity building programnme is significant in enhancing the efficiency and effectiveness of the Ministry of Finance’s employees, as extracting lessons from South Korea’s success story is beneficial for any country in its path towards development.”

“The action plans developed by the trainees during the training will recieve great attention from the ministry. In this regard, a series of meetings will be conducted with the trainees to determine the ones that match the ministry’s current strategy, and the ministry will follow up with the implementation.”

For his part, Choi said: “This training comes in light of the Korean government’s designation of Egypt as a priority development partner during the period from 2021 to 2025.”

“This is the start of further cooperation to enhance and expand the scopes of the partnership between the two governments,” he added.

“I was very pleased listening to all the action plans presented by the attendees,” said Kim.

“Especially because public finance management and procurement are two things that cannot be separated. We hope this training programme can synergise with a joint project with the ministry for enhancing the e-procurement system.”

Furthermore, Hamdy commented that “the trainees were very satisfied with the outcomes of the programme,” expressing her hope to continue cooperating with the Korean side.

This training was designed to seek a sustainable plan to implement public financial management reforms by determining the current state of improvement in the organisation and system; explore effective means of operation of financial management and improving human resources management; and improve the professional competence, leadership, and accountability of mid-level officials for the integrated management of public finance management reform.

The training included workshops and lectures which covered Korea’s financial management systems and modernisation of the taxation and customs systems, in addition to lectures discussing topics such as innovation in the government procurement system and financial auditing.

The participants also developed action plans for the issues identified in the country report by incorporating knowledge and experiences from the training.

The trainees expressed their gratitude for the programme and their feeling of achievement for completing the intensive courses, learning from the invaluable experiences that South Korea went through.

Furthermore, KOICA and the Ministry of Finance are planning on embarking on a project for enhancing the e-procurement system in Egypt. This project aims to build an electronic procurement system that can increase the efficiency and transparency of the public procurement process.

KOICA and the Ministry will also re-engineer the business process to ensure that it is aligned with the institutional framework and develop a roadmap for the delivery and implementation of the new system across the public sector.

Moreover, the Korean government will continue to support the Egyptian government’s efforts to strengthen public finance management through capacity-building programmes and technical cooperation projects.

You Might Also Like

Connect with family and friends this Ramadan: How to manage the festivities with WhatsApp

TikTok updates its community guidelines

IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses

Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023

EFG Hermes records EGP 11bn revenue in FY22

TAGGED: Egypt, public finance, South Korea
Share this Article
Facebook Twitter Email Print
Previous Article B.TECH online sales account for 20% of its total sales B.TECH online sales account for 20% of its total sales
Next Article ODE achieves 16.9% growth in sales in 1H 2022 ODE achieves 16.9% growth in sales in 1H 2022
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Connect with family and friends this Ramadan: How to manage the festivities with WhatsApp
Connect with family and friends this Ramadan: How to manage the festivities with WhatsApp
Business Technology
Popular video-sharing app TikTok was granted by the U.S. government a 15-day extension to reach a deal with U.S. buyers, a federal court filing showed Friday. This means the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended from Nov. 12 to Nov. 27, according to the U.S. District Court for the District of Columbia.
TikTok updates its community guidelines
Business
Strong representation of women in TV series of Ramadan 2023
Strong representation of women in TV series of Ramadan 2023
Culture Cinema
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?