Ministry of Investment and International Cooperation explained

Agency Name:Ministry of Investment and International Cooperation
Nativename A:وزارة التعاون الدولي
Jurisdiction:Government of Egypt
Headquarters:New Administrative Capital, Cairo Governorate
Chief1 Name:Rania Al-Mashat
Chief1 Position:Minister

The Ministry of Investment and International Cooperation is the ministry in charge of economic cooperation and development between the Arab Republic of Egypt and the Arab States, foreign countries, and international and regional organizations. It also aids in economic and social development within Egypt. Its headquarters are located in New Administrative Capital.

Profile

The Ministry of International Cooperation was merged with the Ministry of Investment in September 2017.[1] It is active in developing financial inclusion policy and is a member of the Alliance for Financial Inclusion.[2] In late 2016, the ministry talked of receiving 120 million euros from the European Union for services to help the economically disadvantaged, for example, to expand the number of children receiving school meals, to aid families running small businesses, and to assist youth with employment skills.[3]

Milestones

On 2 August 2017, the Minister, Sahar Nasar, reported that foreign investment in Egypt would exceed $10 Billion (US dollars). In 2016 Egyptian president Abdel Fattah el-Sisi had moved to float the Egyptian pound and this resulted in lower costs for doing business in Egypt.[4]

In 2018, the Minister announced that Egypt is working to diversify foreign investment stressing several times that the goal is to create jobs. Nasr stated Egypt is working to attract investments from Europe and the US, and continues improvements in cutting red tape when doing business in Egypt. Nasr talked about the improved social stability and Egypt's focus on developing Sinai as a way of countering extremism.[5] [6]

Nasr announced that as of August 2018, sole proprietors can license their company's thanks to improvements made to Egypt's Company's Law and described the limited tax liability benefits to those Small and Medium-sized Enterprises.[7]

Ministers

See also

External links

Notes and References

  1. News: El-Sheikh. Sarah. Parliament approves new cabinet reshuffle of nine ministries. Daily News Egypt. 14 February 2017. live. https://web.archive.org/web/20170221010343/http://www.dailynewsegypt.com/2017/02/14/parliament-approves-new-cabinet-reshuffle-nine-ministries/. 21 February 2017.
  2. Web site: AFI members. AFI Global. 10 October 2011. 17 February 2012.
  3. News: Ayyad. Mohamed. International Cooperation Ministry signs €120m grant with EU. Daily News Egypt. 20 December 2016. live. https://web.archive.org/web/20170219120738/http://www.dailynewsegypt.com/2016/12/20/605789/. 19 February 2017.
  4. News: Lin. Nouiehed. Feteha. Ahmed. Egypt to Top $10 Billion FDI Target This Year, Minister Says. Bloomberg. 3 August 2017. live. https://web.archive.org/web/20170802091813/https://www.bloomberg.com/news/articles/2017-08-01/egypt-may-exceed-10-billion-fdi-target-this-year-minister-says. 2 August 2017.
  5. News: How Egypt is Working to Implement Economic Reform. 29 April 2018. Bloomberg. 24 April 2018. https://web.archive.org/web/20180429222011/https://www.bloomberg.com/news/videos/2018-04-24/how-egypt-is-working-to-implement-economic-reform-video. 2018-04-29. live.
  6. Web site: Supporting Sinai Reconstruction Discussed with the WBG's President. MIIC. 29 April 2018.
  7. News: Small and medium-sized enterprises . 18 October 2018 . Ahram Online . 16 August 2018.
  8. Web site: USAID Assistance Agreement No. 263-0270. U.S. Department of State.
  9. Web site: Past Ministers . https://web.archive.org/web/20220618204541/https://mped.gov.eg/FormerMinistries?id=44 . 18 June 2022 . dead . Ministry of Planning and Economic Development . Ar.
  10. News: BREAKING: New government swears in. The Cairo Post. June 17, 2014.
  11. Web site: The Cabinet. Cabinet Gov Egypt.
  12. News: Egypt's Sherif Ismail cabinet with 16 new faces sworn in by President Sisi. 19 September 2015. 19 September 2015. Ahram Online.
  13. Web site: رانيا المشاط وزيرة التعاون الدولى .