Rostom met Almud Weitz, the World Bank’s Regional Practice Director for Infrastructure for the Middle East and North Africa, to discuss ways to strengthen cooperation and review several shared strategic files, including ways to enhance the competitiveness of the Egyptian tourism sector, according to a statement from the ministry.
Egypt’s tourism sector contributed 3.7 percent to GDP in fiscal year 2024/2025, marking its highest share in a decade, up from 3.4 percent a year earlier, amid a strong increase in tourism revenues.
During the meeting, the minister said Egypt is moving forward with a comprehensive development strategy aimed at boosting sustainable growth, improving the investment climate, and expanding private sector participation in the economy.
He added that entrepreneurship remains a top government priority due to its role in fostering innovation and creating sustainable job opportunities for young people.
Rostom noted that the Ministry of Planning and Economic Development is coordinating with relevant entities to build an integrated system to support innovation, including simplifying procedures, improving access to financing, and accelerating digital transformation.
He said these efforts are intended to strengthen the competitiveness of the Egyptian economy at both the regional and international levels.
On infrastructure, Rostom revealed that the government is developing a blended financing framework designed to integrate public funding with private investments and foreign capital flows as part of efforts to support large-scale development projects.
The World Bank Group has recently raised its development financing for Egypt to $1 billion, from $700 million, to help it contain the economic impact of the US-Israeli war on Iran and its spillovers while sustaining progress on structural reforms.
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