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Thursday, 14 November 2019

OECD praises Egypt's inclusive social, economic development

Doaa A.Moneim , Monday 21 Oct 2019
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Secretary-General‎ of the Organisation for Economic Co-operation and Development (OECD) José Ángel Gurría praised Egypt's efforts to achieve inclusive social and economic development through involving all stakeholders in the developmental process.

Gurría made his statements during a meeting with Egypt's Minister of Investment and International Cooperation Sahar Nasr on the sidelines of the World Bank (WB) and International Monetary Fund (IMF) annual meetings in Washington.

Gurría assured that the OECD is committed to supporting Egypt's inclusive economic reforms under the leadership of President Abdel-Fattah El-Sisi, which allow for more participation of the private sector by injecting more investment in the domestic market.

Nasr and Gurría discussed introducing technical support by the OECD to Egypt's investment ministry in Egypt's foreign direct investment (FDI) inventory.

Nasr also met with Gabriela Ramos, the OECD Chief of Staff and Sherpa to the G20, during a brief visit to Paris following the WB and IMF annual meetings.

Nasr and Ramos discussed the initial indices of the investment policies review that is prepared by the OECD, and Nasr asserted the necessity of boosting Egypt's reforms that spur private investment and raise its role in the economic activity and the development process.

The meeting also touched upon the future and current cooperation areas between Egypt and the OECD and stressed the importance of benefiting from OECD experience in supporting economic priorities and development efforts in Egypt.

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