We look forward to formulating a common framework among African countries that has more ability to deal with current global economic challenges

We look forward to optimizing the exploitation of natural resources and expanding investments to accelerate Africa's structural transformation

South Africa is taking the chairmanship of the G20 for the first time, which enhances our opportunities in international economic decision-making

Industrial and commercial development begins locally with a competitive business environment that qualifies the private sector to lead growth

Facilitating intra-African trade achieves a breakthrough in economic transformation and enhances the increase of our exports

Increasing export and investment in the productive sectors provides financial space for spending on health, education and social protection

Massive technological developments enrich our ability to complete the process of economic integration

 

Deputy Minister of Finance for Fiscal Policies, Yasser Subhi, stressed the need to promote sustainable growth in the African continent, in light of the uncertainty in the world as a result of geoeconomic and geopolitical developments, which require concerted efforts among African countries to benefit from the creation of a new, fairer and more equitable global financial system for developing, emerging and African countries. He pointed out that achieving industrial and commercial development begins locally with increasing the participation of the private sector in economic activities to provide more job opportunities and create a more competitive business environment, ensuring comprehensive and sustainable development.

During his participation in the "Economic Forum of Nahda University" under the title "An economic vision towards stimulating trade and investment growth in the African continent from Egypt to Africa," the Deputy Minister said that through this rich forum we look forward to fruitful discussions and promising opportunities to enhance cooperation and partnership between African countries and work by all means to facilitate the movement of intra-trade to achieve a breakthrough in the economic transformation of the continent by strengthening supply chains, as well as the importance of focusing on opening new horizons to maximize the participation of the private sector, in a way that contributes to raising economic growth rates, increasing export and investment in the productive and service sectors, energy and technology, and creating a financial space for spending on health and education as a basis for building societies and expanding the social protection network.

He pointed out that South Africa's chairmanship of the G20 for the first time enhances our opportunities in international economic decision-making, on the most urgent global issues such as "debt, opening up prospects for international trade, and climate issues," which need African and international collaboration, stressing that we look forward to formulating a common framework among African countries that has more ability to deal with current global economic challenges, along with working on the optimal exploitation of natural resources and expanding investments to accelerate structural transformation in Africa.

He added that the tremendous technological developments taking place in the global arena give greater opportunities to the young and promising manpower on the African continent to benefit from this development in all aspects of life, which enriches the capabilities of these countries towards growth, progress, development and completing the march to achieve economic integration.