• Season 3 Episode 2 - Economies in Transition: Egypt

  • Sep 27 2022
  • Length: 41 mins
  • Podcast

Season 3 Episode 2 - Economies in Transition: Egypt

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  • Summary

  • In Season 3, Episode 2 of the empowerME Conversations podcast, host and Atlantic Council empowerME Chairman Amjad Ahmad interviews Arab Republic of Egypt Ministry of International Cooperation Minister H.E. Rania A. Al-Mashat with guest co-host UPS President for International Public Affairs and Sustainability Penelope Naas to discuss Egypt hosting COP 27, increasing women in leadership positions, promoting inclusivity in the economy, energy transitions, and the continued development of Egypt’s entrepreneurial ecosystem.



    Season 3 of the empowerME Conversations Podcast is sponsored by UPS.



    Key Takeaways

    0:00 Intro

    4:50 H.E. Rania Al-Mashat discussed Egypt as the first country in the Middle East and North Africa or in Africa to issue green bonds, which are anchored on projects that have outcomes related to climate action, such as sustainable infrastructure, water, waste management, transportation, and renewables.

    6:10 H.E. Al-Mashat underscored Egypt’s forethought as the country invested in silos for wheat storage for the first time in 2014, demonstrating the resilience in adaptation projects which allowed the country to survive the wheat crisis.

    9:10 H.E. Al-Mashat argued that Egypt will attract capital amongst competition because of its success and goals such as the global competition for startups with Green Solutions and continued focus on adaptation for Africa.

    13:20 H.E. Al-Mashat emphasized the importance of COP 27 and the necessary energy transitions in Egypt, and Africa at large.

    17:00 H.E. Al-Mashat gave an overview of Egypt’s current and future projects to target climate action, such as the Integrated Sustainable Energy Strategy which includes KPIs for renewables, both wind farms, and solar plants, and by 2035 40% of Egypt's energy mix will be renewables.

    19:45 Penelope Naas reflected on Egypt asan important crossroad with regards to Egyptian waterways connecting the East to the West, and how this relates to Egypt’s relative climate and the fragility of supply chains and infrastructure.

    23:10 H.E. Al-Mashat asserted that regionalization and localization are not mutually exclusive when it comes to supply chain resiliency and furthered that there must be localization but with a level playing field.

    26:23 H.E. Al-Mashat stated that there are three words that shape the future of every country's economy: inclusive, digital, and green.

    29:30 H.E. Al-Mashat agreed that Egypt must continue to support women at all levels and cited the Closing the Gender Gap accelerator which supports women in leadership positions, pushes for equal remuneration, and also pushes for digital skills.

    32:40 H.E. Al-Mashat reflected on Egypt’s increased emphasis on the implementation and execution of recent projects and those since 2011.

    37:50 H.E. Al-Mashat purported her optimism and positivity for Egypt come from the amount of engagement that takes place within the country and with other countries.



    Quotes mentioned by H.E. Rania Al-Mashat



    “Women’s participation requires commitment from the government. And once that happens, culture starts to change… when women are in leadership positions and they do well, it becomes more familiar.”



    “I think there are three words that shape what every country's trying to do now on a national level or in partnerships, whether with the private sector or with IFIs, and it is an inclusive economy, a digital economy, and a green economy.”



    “There's also a lot of commitment, not just from the government but also from the private sector, that has been experimenting with incubators, pushing risk capital and venture capital into these startups... a key point is to market more and to make the success stories known.”



    Guest Social Media Links

    https://www.linkedin.com/in/rania-a-al-mashat-a00899182/

    https://twitter.com/RaniaAlMashat

    https://www.linkedin.com/in/penny-naas-077aa57/

    https://twitter.com/pennynaas



    Host Social Media Links

    https://www.linkedin.com/in/amjadahmadvc/

    https://twitter.com/amjadahmadVC
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