{"id":547014,"date":"2022-06-06T04:08:48","date_gmt":"2022-06-06T04:08:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/06\/private-sector-key-to-the-economys-green-transition-planning-minister\/"},"modified":"2022-06-06T04:08:48","modified_gmt":"2022-06-06T04:08:48","slug":"private-sector-key-to-the-economys-green-transition-planning-minister","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/06\/private-sector-key-to-the-economys-green-transition-planning-minister\/","title":{"rendered":"Private sector key to the economy\u2019s green transition -Planning Minister"},"content":{"rendered":"

<\/a> Private sector investment and participation will be a cornerstone of the government\u2019s <\/strong>push to transition to a green economy<\/strong>, Planning Minister Hala El Said suggested at the Islamic Development Bank\u2019s annual meetings in Sharm El Sheikh this past weekend. We were flies on the wall<\/a> at the event, which acted as something of a teaser on climate policy ahead of COP27 in November.<\/p>\n

Gov\u2019t to business: If you want to help us <\/strong>transition to a greener economy, the state is ready to work with you.<\/strong> As the government prepares its new green hydrogen and water resources strategies, El Said said, it\u2019s also reviewed investment regulation and has already signed agreements with several international firms on hydrogen pilot projects. Inclusive growth and the core principle of \u201cleaving no one behind\u201d are part and parcel of its policies, she said.<\/p>\n

Investors in green projects get perks: <\/strong>El Said highlighted recent tax breaks<\/a> announced for projects in key green industries including green hydrogen and green ammonia \u2014 and reiterated statements<\/a> by Prime Minister Madbouly that more incentives are in the pipeline. Green projects should account for 30% of state investments next fiscal year and half of all state investments the year after through cooperation with the private sector, she added.<\/p>\n

Public Enterprises Ministry offers projects to private sector: <\/strong>At a private sector forum held on the sidelines of the IsDB meetings, Public Enterprises Minister Hesham Tawfik presented investment opportunities to private firms to partner with government in sectors including EVs, fertilizers, hotel and real estate development, agriculture, and pharma manufacturing, according to Al Borsa<\/a>.<\/p>\n

The IsDB meetings also saw the government and local private sector players sign a total of 13 agreements<\/strong>, including six MoUs between the IsDB\u2019s Islamic Corporation for the Development of the Private Sector<\/a> and Sarwa Capital, FAB Egypt, and Faisal Islamic Bank to issue sukuk, on-lend to SMEs, and spur private sector involvement in the economy.<\/p>\n

But a focus on policy \u2014 rather than individual projects \u2014 is paramount, noted El Said and other ministry reps during the meeting: <\/strong>Another resounding note struck during the meeting was the ministry\u2019s move away from setting up individual projects to focus on key policies needed to drive the COP27 policy direction towards real implementation<\/a> and away from empty platitudes seen during COP26.<\/p>\n","protected":false},"excerpt":{"rendered":"

Private sector investment and participation will be a cornerstone of the government\u2019s push to transition to a green economy, Planning Minister Hala El Said suggested at the Islamic Development Bank\u2019s annual meetings in Sharm El Sheikh this past weekend. We were flies on the wall at the event, which acted as something of a teaser […]<\/p>\n","protected":false},"author":1,"featured_media":547015,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9136],"tags":[1918,72,7111],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-547014","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-enterprise-on-the-road","tag-enterprise-on-the-road","tag-enterpriseam","tag-infrastructure","wpautop","entry"],"acf":{"mongo_id":"1ca07655-f0d9-4db2-ad6d-b14d27859132","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/6\/154.jpg","photo_position":"above","related_issue":[547004],"teaser":"","voice_url":""},"yoast_head":"\nPrivate sector key to the economy\u2019s green transition -Planning Minister - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/06\/private-sector-key-to-the-economys-green-transition-planning-minister\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Private sector key to the economy\u2019s green transition -Planning Minister\" \/>\n<meta property=\"og:description\" content=\"Private sector investment and participation will be a cornerstone of the government\u2019s push to transition to a green economy, Planning Minister Hala El Said suggested at the Islamic Development Bank\u2019s annual meetings in Sharm El Sheikh this past weekend. 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