Egypt, JPMorgan discuss expanding cooperation to support investment, reforms
Egypt’s Minister of Investment and Foreign Trade Hassan El-Khatib met with Daniel Pinto, Vice Chairman of JPMorgan Chase, to discuss expanding cooperation between Egypt and international financial institutions to support economic reform and attract new investment, the ministry said on Wednesday.
The meeting took place on the sidelines of the International Monetary Fund and World Bank annual meetings.
El-Khatib reviewed Egypt’s progress in improving its business climate, including streamlining customs and administrative procedures. He said average customs clearance time has fallen to 5.8 days from 16 days and is targeted to drop to two days by the end of the year under new coordinated measures.
He also underscored the role of digital transformation in improving investment facilitation, citing Egypt’s unified digital platform for investment licensing and services, which allows investors to complete procedures electronically through a single window — cutting costs and enhancing transparency.
El-Khatib added that Egypt has launched its first unified national trade policy aimed at boosting exports, integrating into global value chains, supporting local manufacturing, and creating a more stable business environment.
He presented the country’s new foreign direct investment strategy, which prioritises 13 key sectors such as tourism, energy, pharmaceuticals, auto components, green manufacturing, and digital services. An implementation plan with measurable targets is being developed to ensure follow-through, he said.
El-Khatib stressed that Egypt’s strategic location, modern infrastructure, skilled labour force, large domestic market, and broad network of free trade agreements — giving access to more than 2.5 billion consumers — position it as a regional hub for production and services amid shifting global supply chains.
Pinto praised Egypt’s ongoing reform efforts, saying the country is moving steadily towards sustainable growth and attracting high-quality investments. He expressed JPMorgan’s interest in expanding cooperation with the Egyptian government in financing and investment advisory, citing Egypt’s reform momentum and strategic market potential.
Attribution: Amwal Al Ghad English
Subediting: Y.Yasser