21 July 2024 11:43 AM

Egypt’s Participation in World Governments Summit 2024

Sunday، 11 February 2024 - 12:00 AM

Egypt's Prime Minister Moustafa Madbouly headed on Sunday, 11 February, 2024, to the UAE upon the invitation of UAE's Vice President and Prime Minister, Mohammed bin Rashid Al Maktoum, to participate in the 11th edition of the World Governments Summit 2024 in Dubai.

The agenda of the Prime Minister during his participation in the WGS 2024 includes a series of interviews and meetings with a number of heads of international development institutions, and the attendance of a number of panel discussions on various topics, in addition to delivering the keynote address to review the efforts of the Egyptian government to promote various development sectors and enhance the efficiency of infrastructure.

Also, the Egyptian Premier will deliver a keynote speech about the efforts of the Egyptian government to reinforce various development sectors and enhance their infrastructure.

The World Governments Summit will take place from 12 to 14 February in Dubai in the UAE, under the theme of 'Shaping Future Governments' where the conversation will involve governments, international organizations, thought leaders, and private sector leaders from around the globe to international cooperation and enable governments to identify innovative solutions for future challenges– further rippling to inspire and empower the next generation of governments. 

Thought leaders, global experts, government delegations, and decision-makers from around the globe are expected to participate in the summit.

The World Governments Summit 2024 Agenda

The World Government Summit constitutes a comprehensive platform that, in its current edition, hosts more than 25 heads of state and government, more than 85 international and regional organizations and global institutions, 120 government delegations, and an elite group of global thought leaders and experts, to discuss major global future trends in more than 110 main dialogue and interactive sessions. 200 international figures will speak, in addition to holding more than 23 ministerial meetings and executive sessions in the presence of more than 300 ministers.

It is noteworthy that the World Government Summit 2024 hosts 15 global forums focusing on the future of the most important vital sectors and is organized in partnership with a number of international organizations, global technological institutions, and leading companies. The list of summit forums includes: Global Health Forum, Government Services Forum, Arab Government Administration Forum, Experience Exchange Forum, Future of Transport Forum, Public Finance Forum for Arab Countries, Future of Education Forum, Future of Space Forum, Advanced Industry and Technology Forum, Artificial Intelligence Forum, Future of Work Forum, and Economies Forum. startups, the Geotechnology Governance Forum, the Sustainable Development Goals Forum, and the Arab Young Leaders Meeting.

About the World Governments Summit (WGS)

The World Governments Summit is a global knowledge exchange platform for governments that was established in 2013 under the dynamic leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, Ruler of Dubai and is poised to scale newer heights of excellence and inclusivity.

After 11 years of success, the Summit has become a key global benchmark that goes beyond conceptualisation and creative ideas to establishing applicable frameworks and practices.

The World Governments Summit is a global platform dedicated to shaping the future of government worldwide. Each year, the Summit sets the agenda for the next generation of governments with a focus on how they can harness innovation and technology to solve universal challenges facing humanity. The Summit is a gateway to the future as it functions as an analysis platform for the future trends, issues and opportunities facing humanity. It is also an opportunity to showcase innovations, best practice and smart solutions to inspire creativity to tackle these future challenges.

It is the only event of its kind dedicated to ‘Shaping the Future of Governments’ and setting the course for the next generation of governments worldwide. Over 3,000 participants, world leaders, policy makers, international community members and experts from over 130 countries.

Activities of the Egyptian Participation

Sunday, 11 February 2024

Prime Minister, Dr. Mostafa Madbouly arrived this evening, Sunday, 11 February 2024, at Dubai International Airport to participate in the "World Government Summit 2024" (WGS). He was received by Minister of State and Secretary General of the UAE Cabinet, Maryam Al Hammadi, Ambassador of the United Arab Emirates to Egypt, Mariam Al Kaabi and Ambassador of Egypt to the UAE, Sharif Eissa.

Ashraf Sobhy, Minister of Youth and Sports of Egypt, and Head of the Executive Office of the Council of Arab Youth and Sports Ministers, participated in the preliminary session of the “Arab Meeting for Young Leaders”.

The activities of the third edition of the “Arab Young Leaders Meeting” will review a group of the most prominent youth initiatives, experiences and studies at the level of the Arab world concerned with empowerment, capacity building and skills refinement, which contributes to enhancing youth participation in the process of sustainable development at the level of the Arab world. The meeting also discusses the role of values ​​in promoting… Elements of national identity among young people.

The meeting highlights the values ​​of community cohesion, which is considered an essential foundation for building strong and sustainable societies by involving young people in efforts aimed at strengthening the commonalities between the components of society, linked to identity, language and cultural heritage.

15 young Arab ministers, more than 20 decision-makers, heads of youth institutions and more than 100 young leaders of community development work institutions are participating in the meeting. And more than 32 speakers in various specializations and fields.

Dr. Ashraf Sobhy, Minister of Youth and Sports of Egypt, and Head of the Executive Office of the Council of Arab Youth and Sports Ministers, stressed that the participation of Arab ministers in the “Arab Meeting for Young Leaders” aimed primarily at engaging Arab youth and listening to their ideas, as well as supporting youth initiatives.

He also pointed out that the meeting contributed to showcasing Arab solidarity and strengthening the role of the Arabic language in national identity.

In a statement to the Emirates News Agency (WAM), Dr. Ashraf Sobhi expressed his pride in participating in the World Governments Summit (WGS 2024) as part of the Council of Arab Youth and Sports Ministers, affirming its continuous support for all activities and events in Arab countries, including the Arab Meeting for Young Leaders.

The Egyptian minister underscored the importance of the Arabic language and emphasised the key role of the Arab Youth Center and its initiatives, highlighting Arab youth ministers' efforts to develop visions and solutions to the challenges facing Arab youth.

Dr. Mohamed Maait, Minister of Finance of Egypt participated in the 8th Public Finance Forum in the Arab Countries held as part of the World Governments Summit 2024 in Dubai.

The eighth session of the Public Finance Forum for Arab Countries, organized by the Ministry of Finance in cooperation with the Arab Monetary Fund and the International Monetary Fund, will be held under the title “Designing more efficient and equitable financial policies to address debt-related vulnerabilities and future financial challenges in a world suffering from more stringent financing constraints.”

The forum is attended by Their Excellencies the Ministers of Finance and Central Bank Governors in the Arab countries, His Excellency Kristina Georgieva, Director General of the International Monetary Fund, His Excellency Dr. Fahd bin Mohammed Al Turki, Director General and Chairman of the Board of Directors of the Arab Monetary Fund, and more than 100 participants from senior officials and specialists in regional and international institutions.

The forum includes four dialogue sessions, the first entitled “Macroeconomics… Developments and Prospects,” which provides an overview of the macroeconomics of the Arab region, examines debt-related vulnerabilities and difficult financing conditions, in addition to discussing the structural reforms necessary to stimulate growth in the region.

The second session, entitled “Success Stories in Energy Subsidy Reforms and Social Safety Nets,” discusses the advantages of energy subsidy reforms, as fuel subsidy levels in the Arab region are still relatively large compared to their counterparts.

While the third session, entitled “How Do We Create Value from Public Assets?” How to enable governments to improve return on public sector assets with a particular focus on return on assets among non-financial public companies, building on the public sector balance sheet approach introduced in the Fiscal Monitor 2018.

The fourth session, entitled “Generating Revenues from Tax Reforms,” evaluates tax administration reforms in the Arab region, in addition to discussing the region’s challenges for developing effective tax administration.

During his participation, Dr. Maait reaffirmed the Egyptian government's keenness to continue developing cooperation ties with the UAE, especially in the fields of taxation, economy, finance, and investment.

He added that the Egyptian Ministry of Finance participates annually in the World Governments Summit and the Arab Fiscal Forum, which is organised by the Arab Monetary Fund (AMF) and the International Monetary Fund (IMF), to shed light on public finance issues in the macroeconomics and economic indicators, in addition to discussing topics of common interest in the fields of taxation, public sector improvement, and climate finance.

Dr. Maait noted to the efforts of Egypt and the UAE in expanding the frameworks of cooperation and providing new opportunities for joint projects between the two sides, adding that the frameworks of cooperation are witnessing continuous growth in terms of government coordination, exchange of experiences, and strengthening partnerships at the level of the private sector in various commercial and investment sectors of common interest.

On the sidelines of the forum, Dr. Maait signed with the UAE the supplementary agreement to the protocol for avoiding double taxation and preventing tax evasion on income, which reflects the two countries' commitment to deepening bilateral ties, particularly in the economic sphere.

He affirmed Egypt's keenness to provide facilities and remove any tax or customs obstacles that may face Emirati investors and companies in Egypt, in a way that contributes to expanding the base of their business and investment and productive activities, and increasing trade exchange between the two countries.

The Egyptian Minister of Finance called on the Emirati business community to benefit from the measures taken by the Egyptian government to stimulate production and export in various fields, including the golden licence, the state ownership policy document, and government offerings.

Monday, 12 February 2024

During his participation in the World Government Summit 2024 in Dubai, the Egyptian Prime Minister, Dr. Mostafa Madbouly, met with the Emirati Minister of Industry and Advanced Technology, Dr. Sultan Al Jaber, in the presence of the UAE Ambassador to Egypt, Mariam Al Kaabi, and the Egyptian Ambassador to the UAE, Sherif Eissa.

The Prime Minister emphasized the historical ties between the two nations at the outset of the meeting, emphasizing the value of bolstering and enhancing these ties through mutual cooperation in a range of fields.

For his part, Al Jaber emphasized the close ties between the two nations, expressing gratitude for Egypt's assistance to the UAE at the COP28 conference in Dubai last November. He also praised the effectiveness of the Egyptian delegation during the talks and its steadfast support for the friendly UAE.

In the course of the meeting, Dr. Al Jaber conveyed his gratitude for Egypt's recent remarkable progress in a number of areas.

Prime Minister Mostafa Madbouly met with his Serbian counterpart, Mrs. Ana Brnabić, to discuss ways to enhance joint cooperation.

Madbouly praised the joint cooperation and coordination between Egypt and Serbia within the framework of international organizations. He also supported the nominations of the two countries for various international positions.

Madbouly also stressed the Egyptian side's aspiration to strengthen and push forward economic cooperation, especially, increasing the terms of trade between the two sides.

During the meeting, the Prime Minister stressed the Egyptian state's keenness to encourage and support the private sector. He expressed Egypt's aspiration to enhance cooperation with Serbia in the fields of information technology and digital transformation, especially in light of the technological boom that has occurred in Serbia in recent years.

In the same context, the Prime Minister expressed the Egyptian state's aspiration to open up Serbian tourism to launch new tourism programs in Egypt and increase tourism exchange between the two countries. He also addressed the potential for increasing mutual investments between the two countries.

For her part, the Prime Minister of Serbia expressed her honor to receive His Excellency President of the Arab Republic of Egypt, President Abdel Fattah El-Sisi, in Serbia in July 2022, and the President of the Republic of Serbia looked forward to visiting Egypt in the near term.

Brnabić stressed the importance of Egypt's pivotal role in the region to support regional stability and Serbia's readiness to fully support Egypt in this regard. He expressed her appreciation for the progress of the free trade agreement negotiations between the two countries. This contributes to enhancing trade exchange in the fields of agriculture, energy, tourism, communications, and information technology, as well as her support for the cooperation of the two sides in the field of food security and the possibility of exporting wheat to Egypt.

During the meeting, the two sides also exchanged views on the developments in the regional situation, especially the situation in Gaza, the Egyptian efforts to mediate between the two parties, and reaching a ceasefire.

In this regard, the Prime Minister reiterated the need to stop the ongoing war in the Gaza Strip in light of the ongoing escalation at the regional level.

The Egyptian Prime Minister, Dr. Mostafa Madbouly, met, on the sidelines of his participation in the "World Government Summit 2024" in Dubai, with Mrs. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), and her entourage.

The meeting’s attendees included Mr. Hassan Abdullah, Governor of the Central Bank; Dr. Hala Al-Saeed, Minister of Planning and Economic Development; Dr. Rania Al-Mashat, Minister of International Cooperation; Dr. Mohamed Maait, Minister of Finance; and Dr. Mahmoud Mohieldin, Executive Director of the IMF.

The PM began the meeting by reiterating how much he appreciated the collaboration between the Egyptian government and the IMF and expressed his hope to host the IMF Director in Egypt in the near future.

He emphasized that the Egyptian government is still working toward a number of goals related to comprehensive economic reform, including reducing the country's debt-to-GDP ratio and inflation rates. He also emphasized the need to keep up efforts to assist the private sector.

The government is also continuing to implement social protection programs, added Madbouly, citing the social package launched by President Abdelfattah El-Sisi, President of the Republic, last week, which included an increase in the minimum level of wages by 50%, as well as an increase in pension values. In addition, he mentioned the Decent Life initiative, which is among the most significant social projects the Egyptian government is carrying out nationwide in order to raise the living standards of its rural residents.

On the other hand, Madbouly touched on the changes in the regional situation and its impact on Egypt, and the burdens placed on the Egyptian state in light of its reception of about 9 million non-Egyptian guests from other countries.

On top of that, Madbouly centered his remarks on the worsening humanitarian conditions in the Gaza Strip, citing Egypt's ongoing efforts at all levels to bring about a ceasefire and find a drastic solution by starting meaningful talks between the two sides to bring about peace and carry out the two-state solution in compliance with the internationally agreed terms of reference.

The meeting's topics included carrying on with consultations with IMF representatives over the second and third evaluations of the economic plan backed by the Extended Fund Facility (EFF) agreement, according to Egyptian Cabinet Spokesperson Mohamed Al-Homsani.

The IMF's Managing Director, in response, stated that she is aware of how regional events affect Egypt, particularly the ongoing conflict in the Gaza Strip and the danger to the safety of maritime traffic in the Red Sea.

She emphasized that the Fund assists the government in enforcing the implementation of social policies meant to lessen the burdens on Egyptian people, particularly those with low incomes, and in the area of economic transformation.

In closing, the PM expressed his anticipation for the next several years to see the completion of consultations on the evaluations of the economic reform program and the two sides' continued collaboration in this area.

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