Egyptian Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat received the Global Leadership Award from the Choiseul Institute on Tuesday, citing a surge in foreign direct investment as evidence of strengthening partnerships between Africa and the Gulf.
Speaking at the African-Gulf Dialogue held on the sidelines of the Doha Forum, Al-Mashat noted that foreign direct investment (FDI) into Africa rose 75% to a record $97bn in 2024. Gulf Cooperation Council (GCC) countries have become leading global investors in the region, announcing more than $53bn in new projects across the continent in the same year.
“This recognition reflects the efforts of the Egyptian State in strengthening effective economic diplomacy and building strong economic partnerships at the regional and global levels,” Al-Mashat said.
The minister stated that Africa, with one of the world’s fastest-growing populations, and the Gulf, with its financial strength and diversification agendas, are “natural partners”. She added that current cooperation mechanisms are working to strengthen the continent’s economic landscape, specifically pointing to the activation of the African Continental Free Trade Area.
Al-Mashat said the trade area unlocks a unified market of 1.7bn people with projected spending of $6.7tn by 2030, presenting significant opportunities to accelerate growth in infrastructure, energy, manufacturing, and digital transformation.
“In Egypt, we view partnerships not as optional tools, but as essential architecture for achieving national priorities and accelerating sustainable development,” Al-Mashat said. “When countries, institutions, and the private sector align their efforts, the impact becomes greater than the sum of its parts.”
The award was presented by Choiseul Institute President Dr Pascal Lorot during a gala dinner attended by Sheikh Jabr bin Mansour bin Jabr Al-Thani, Chairman and CEO of GMG Holding.
Al-Mashat, who was previously listed by the think tank among the Top 100 Economic Leaders of Africa in 2014 and 2015, noted that the African-Gulf Dialogue represents a new horizon for aligning development priorities and scaling investment.
