Private, public partnerships play important role in protecting environment, developing local production: Sarah Tabakh

On the sidelines of the fourth Businesswomen Egypt 21 conference, Sarah Tabakh spoke on the important role of the private and public sectors in protecting the environment in Egypt and developing its local production. Below is the transcript of her remarks:

The private sector proved its importance and effective contribution to achieving Egypt’s sustainable development.

The initial indicators of last year’s business results indicated the significant contribution of the private sector to the GDP.

Egypt’s industrial and real estate sectors came on top of the business sectors with direct contributions to the GDP and national income, as well as attracting investments to Egypt.

Meanwhile, the Egyptian housing sector has grown significantly, which clearly appeared in the development of establishing national project mechanisms, especially those of infrastructure development. Real estate investment comes in the second place after the telecommunications sector in terms of attracting capital.

The role of real estate companies in the Egyptian economy should not be overlooked, especially that these companies’ vision has changed to match the new market situation and adapt to the changes that occurred in the current economic arena.

The real estate companies relied on putting their strategies in line with the state’s plans, and they started to cooperate effectively with the Ministry of Housing. For example, Mountain View collaborated with the New Urban Communities Authority ( NUCA) of the Ministry of Housing in implementing its expansion projects in New Cairo and Sixth of October City, which was reflected positively on the results of the projects. These partnerships are designed to help the government in facing its challenges and develop expertise of both the public and private sectors.

During my participation at the fourth Businesswomen Egypt 21 conference, I realised how critical the current period is for the development plans in Egypt. I had the opportunity to listen to ministers and leaders’ speeches in various fields; I now know the private sector’s role in supporting state strategies and achieving sustainable development.

During my meeting with the Minister of Environment Khaled Fahmy, I discussed the role of private sector companies in pushing Egyptian industries towards more environmentally friendly behaviour.