Egyptian Prime Minister Mostafa Madbouly, representing President Abdel Fattah Al-Sisi, made a prominent appearance at the World Economic Forum in Davos 2025. The event saw the signing of a pivotal Joint Economic Committee agreement between Egypt and Switzerland, aimed at invigorating bilateral trade and investment.
The agreement, signed by Egypt’s Minister of Planning and Economic Development, Rania Al-Mashat, and Switzerland’s State Secretary for Economic Affairs, Helene Budliger Artieda, is hailed as a substantial enhancement of the two nations’ economic collaboration. “This marks a significant milestone in Egyptian-Swiss cooperation,” noted PM Madbouly, as he emphasized the shared aspirations for sustainable growth across various sectors.
Moreover, Madbouly’s Davos agenda included key discussions with major industry players such as Yara Clean Ammonia and the Volvo Group. In his meeting with Yara’s CEO Hans Olav Raen, the focus was on expanding Egypt’s capabilities in green hydrogen, aligning with Egypt’s strategy to boost renewable energy. Raen expressed Yara’s commitment to a long-term partnership, reflecting on President El-Sisi’s recent visit to Norway that resulted in promising agreements.
In parallel, Madbouly’s dialogue with Volvo Group’s Executive VP Jens Holtinger signaled Egypt’s ambition to become a regional manufacturing hub for Volvo’s electric vehicles, leveraging export prospects to African markets. Holtinger expressed enthusiasm for the collaboration, acknowledging the Egyptian government’s readiness to offer attractive incentives.
The Egyptian Prime Minister also explored renewable energy opportunities with Spain’s Acciona EnergÃa, further underscoring Egypt’s commitment to sustainable development. Acciona’s CEO José Manuel Entrecanalesto commended Egypt’s reformative strides, expressing keen interest in priority projects within the country.
At Davos, Madbouly also engaged with Goldman Sachs’ Global Head of Public Affairs, Jared Cohen, discussing Egypt’s resilient economic indicators and ongoing commitment to private sector support. Cohen acknowledged the challenges but praised the investment opportunities in Egypt, signaling Goldman Sachs’ intention to intensify collaboration.
Highlighting regional diplomatic dynamics, Madbouly met with Swedish PM Ulf Kristersson, discussing Egypt’s pivotal role in Gaza ceasefire efforts, and with Qatar’s PM Sheikh Mohammed bin Abdulrahman Al Thani, focusing on the positive trajectory of Egypt-Qatar relations.
In a conversation with Cohen, Madbouly reiterated Egypt’s commitment to facilitating humanitarian aid and reconstruction efforts in Gaza, showcasing Egypt’s strategic role in fostering regional stability. This proactive engagement at Davos underscores Egypt’s strategic focus on strengthening its global economic relations, fostering sustainable development, and reinforcing its diplomatic influence on the world stage.
Trump’s Call to Action:
U.S. President Donald Trump, in a virtual address, urged global elites to invest in the U.S. or face tariffs. He promised low taxes for those manufacturing in America while threatening tariffs on those who don’t. This bold stance marks the beginning of his second non-consecutive term, signaling a continuation of his strategic economic policies aimed at reshaping global trade.Economic Fragmentation Concerns:
A new report by the WEF highlighted that geo-economic fragmentation could potentially reduce global GDP by up to $5.7 trillion, surpassing the economic fallout of the 2008 financial crisis and the COVID-19 pandemic. This fragmentation stems from increased use of sanctions and industrial policies as geopolitical tools.Focus on Sustainability and Energy Transition:
Climate change remained a pivotal topic, with experts like Johan Rockström of the Potsdam Institute emphasizing the undeniable human impact on extreme weather events. Former U.S. Vice-President Al Gore quantified the extensive greenhouse gas emissions, urging urgent action. International Energy Agency’s Executive Director Fatih Birol highlighted the need to balance energy security with transition efforts, advocating for policies that can achieve both goals simultaneously.
AI and Technological Innovations:
The forum explored the transformative potential of AI and other emerging technologies. Discussions underscored the need for global collaboration in developing sustainable EV supply chains, as highlighted by Pan Jian of CATL, the leading EV battery maker. Meta’s chief AI scientist, Yann LeCun, predicted a new paradigm shift in AI architectures, suggesting that existing models will soon be outdated.
Gender and Economic Inclusion:
Throughout the sessions, leaders reiterated the importance of gender parity in driving global economic growth. For instance, Anna Bjerde of the World Bank noted that equipping women with equal economic opportunities could boost global GDP by 20%. Efforts to close gender gaps were deemed crucial for fostering inclusive growth.
Global Diplomatic Dynamics:
The forum also saw discussions on Middle Eastern peace, with Israeli President Isaac Herzog expressing optimism about the Gaza ceasefire, and Qatari Prime Minister Mohammed Bin Abdulrahman Al Thani advocating for diplomacy over conflict. NATO Secretary General Mark Rutte emphasized the alliance’s urgent need to increase defense spending amid ongoing tensions in Ukraine.
Overall, Davos 2025 highlighted both the challenges and opportunities of navigating an increasingly complex global landscape, urging leaders to enhance cooperation and innovation in addressing economic, technological, and geopolitical issues.
