Egypt advances creditworthiness, investment strategy – Minister El-Khatib tells Fitch officials
Egypt’s Minister of Investment and Foreign Trade, Hassan El-Khatib, met with Fitch Ratings officials to review the country’s economic developments and government efforts to strengthen its sovereign credit rating.
El-Khatib highlighted the government’s comprehensive programme to build a resilient, diversified, and competitive economy through private sector partnerships, structural reforms, clear fiscal and monetary policies, and a stable business environment.
He noted that exchange rate reforms and rising foreign direct investment have bolstered reserves, restored international confidence, and improved the current account via growth in non-oil exports, Suez Canal revenues, and tourism recovery.
The minister outlined ongoing measures to enhance the business climate, including digital transformation of investment systems, unified licensing, reduced company establishment costs, and incentives for high-value sectors such as industry, tourism, communications, and technology.
El-Khatib reaffirmed Egypt’s continuous engagement with global credit rating agencies, praising Fitch’s role and stressing the government’s commitment to reforms that boost competitiveness, resilience, and sustainable creditworthiness.
He also discussed policies to unify economic vision and stabilise markets, including improved management of state assets through the Sovereign Fund of Egypt to optimise use and increase public revenues.
Regarding foreign investment, El-Khatib said inflows are increasing but remain below targets, with strategies focused on sector analysis, removing obstacles, and creating a supportive environment for major projects.
He added that monetary policy now prioritises inflation targeting, while fiscal and digital reforms underpin sustainable growth. Reforms in trade policy have reduced customs clearance times by up to 90 per cent, enhancing Egypt’s integration into global value chains.
El-Khatib noted that tourism remains a priority, with coordinated efforts in infrastructure, promotion, and streamlined entry procedures to attract further investment.
Attribution: Amwal Al Ghad English
Subediting: Y.Yasser