Egypt finalising first services export council, foreign trade regulatory sandbox – minister

Egypt is finalising plans to establish its first Export Council for Services and launch the country’s first Regulatory Sandbox for Foreign Trade as part of efforts to expand services exports and modernise trade policy, its investment minister said Sunday.

Speaking at the opening of Coca-Cola HBC’s Digital Hub in Cairo, Investment and Foreign Trade Minister Mohamed Farid said the government was completing the framework for the new export council, which will focus exclusively on services.

Egypt currently has about 13 export councils covering merchandise exports. The new council is expected to help identify opportunities in the services sector and develop policies to support its growth as services account for an increasing share of global trade.

Farid also said the government would launch Egypt’s first Regulatory Sandbox for Foreign Trade in coordination with relevant government agencies to test technology-driven solutions aimed at improving the competitiveness of the country’s trade system.

He said the initiative would help expand access to market intelligence and data identifying export opportunities for Egyptian products.

Farid also said the government was reviewing the methodology used to calculate foreign direct investment, particularly the treatment of reinvested earnings, which he described as an important indicator of investor confidence.

He called on companies with foreign shareholders operating in Egypt to submit foreign direct investment data using reporting templates prepared by the General Authority for Investment and Free Zones (GAFI) to improve the quality of official investment data.

“Foreign investment should be viewed through a broader lens than capital inflows alone,” Farid said. “It is a key driver of development through the jobs it creates, the production it supports, healthcare benefits it provides and the stronger business environment it helps build. Investments outside the capital are particularly important because they promote regional development and a more balanced distribution of economic opportunities.”

He said the government’s broader strategy aims to increase exports, strengthen the digital economy, attract higher-value foreign investment, and position Egypt as a regional hub for investment, manufacturing and digital services.

Attribution: Amwal Al Ghad English