Egypt courts global investors, highlights reforms in Washington meetings

Egypt’s Minister of Investment and Foreign Trade Hassan El-Khatib met on Wednesday with officials from global law firm DLA Piper and international investors in Washington to showcase reforms aimed at improving the country’s investment climate.

The discussions focused on simplifying business procedures, removing bureaucratic obstacles, strengthening institutional and legislative frameworks, and expanding opportunities across key sectors including industry, tourism, communications, and technology.

El-Khatib said cooperation with international legal firms is a strategic step to build investor confidence. “We are working to develop a competitive and transparent business environment, accelerate reforms, and expand international partnerships to empower investors,” he said.

The minister highlighted achievements including a shift to inflation-targeted monetary policy, flexible exchange rates, over 40 tax reform measures increasing revenues by 37 per cent without new taxes, and streamlined customs procedures that have cut clearance times from 16 days to 5.8 days, with a target of two days by year-end.

He also emphasised digital transformation initiatives, including the rollout of a unified licensing platform enabling investors to establish companies, obtain permits, and access services from multiple agencies in one place, reducing costs and improving transparency.

El-Khatib underscored Egypt’s commitment to boosting foreign direct investment, enhancing its role in global supply chains, and leveraging renewable energy projects to establish the country as a regional hub for clean energy.

Representatives from DLA Piper praised Egypt’s economic and legislative reforms and expressed readiness to support investors expanding in the Egyptian and regional markets.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser