Arab Finance: Dr. Rania Al -Mashat, Minister of Planning, Economic Development and International Cooperation, launched the second phase of the “Hafiz” platform for financial and technical support for the private sector, to enhance its position as a comprehensive and integrated platform in order to provide various financing tools such as direct investment, commercial financing, facilitated financing, and risk guarantee in addition to technical support and capacity building services provided by development partners to enhance the competitiveness of the private sector.
Through the second stage, the “Hafiz” platform, which can be accessed through the following link https://privateector.moic.gov.eg/ar, provides more than 90 financial and non -financial services available from 44 dual and multilateral development partners for the private sector in Egypt, up from 62 services at the time of the launch of the platform in December 2023, where it attracted approximately 18 thousand users from the private sector and business leaders Those wishing to identify the services available from international development partners, while the “Hafiz” platform database includes 700 companies that benefited from services, and the platform also offered more than a thousand tender and initiative for development projects funded by development partners in Egypt and more than 80 other countries in order to encourage the participation of local private sector companies in development and support their access to global markets.
For her part, Dr. Rania Al -Mashat, Minister of Planning, Economic Development and International Cooperation, stressed that the “incentive” platform comes to integrate with the efforts made by the ministry at various levels in order to enhance the state's efforts to empower the private sector and prepare the business environment and provide more opportunities for the business community in Egypt, where the platform enhances the efforts of economic diplomacy to advance financing for development, and this is the primary goal of the ministry where we work to provide financing And technical support, whether from local or international sources, to stimulate sustainable economic development in Egypt.
Al -Mashat emphasized the attractiveness of the local and foreign private sector in Egypt for the available developmental financing available from international development partners, and that these funds contribute greatly to stimulating foreign direct investments, especially since the financing represents the pillar of any investment, whether local or foreign, and that the funds available from development partners are characterized by being facilitated and long, which makes it one of the best types of funding Investors are looking for, adding that the efforts made by the Ministry in cooperation with international partners have succeeded in concluding more than 150 projects with soft development funds for the private sector exceeding 14.5 billion dollars, and these funds contributed to increasing investments in vital sectors, foremost of which are renewable energy, green financing, financial sectors, agricultural business, small and medium enterprises, sustainable transport, and other sectors Priority.
Al -Mashat stressed that in light of the integration between the tools of planning and international cooperation, in order to achieve economic development, and also in line with the state's efforts to empower the private sector, the ministry is working in the current period to activate the mechanism of investment guarantees from the European Union with a value of 1.8 billion euros, as well as strengthening its partnerships with various partners, to provide more funds and investments that contribute to creating a more motivating work environment for the private sector Local and foreign.
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