Egypt’s exports soar to $4b in 2024, govt eyes $145b in 2030

Egypt’s exports reached a record high of $40 billion in 2024, Minister of Investment Hassan El-Khatib announced on Monday.

The minister unveiled a bold vision to significantly boost exports to a staggering $145 billion by 2030.

At a key meeting with heads of export councils, Minister El-Khatib outlined a new export rebate programme designed to enhance Egypt’s global market competitiveness. The meeting, attended by senior government officials and industry leaders, focused on strategies to further strengthen the country’s export sector.

Minister El-Khatib emphasised that the new rebate initiative aims to revitalise domestic industries while expanding exports across diverse global markets. He urged export councils to identify untapped production capacities within each sector and pinpoint the necessary investments to achieve the ambitious export targets.

The government will continue to provide accessible financing programmes, particularly for the manufacturing sector, and will leverage existing studies on export enhancement to refine the new rebate programme, the minister stated. This includes revising current measures and incorporating new strategies to enhance local production and technology development.

Minister El-Khatib highlighted Egypt’s competitive advantages, including its strategic geographical location, affordable energy costs, and skilled workforce, which make it an increasingly attractive destination for international investment. He noted that current global trends, such as the relocation of industries to competitive investment hubs, present unique opportunities for Egypt to attract global investors.

To strengthen Egypt’s position in the African market, the minister also announced plans to support export risk programmes and establish logistics centers across major African cities.

Attribution: Amwal Al Ghad English