Egypt prioritises FDI to drive growth – minister

Egypt’s Minister of Investment and Foreign Trade, Hassan El-Khatib outlined on Thursday the government’s economic strategy, which prioritises attracting foreign direct investment (FDI), diversifying income sources, bolstering the private sector, and modernizing regulatory frameworks.

Minister El-Khatib emphasised the government’s commitment to addressing the country’s economic challenges through strategic initiatives aimed at stimulating growth and ensuring financial stability.

Key sectors identified for targeted investment include energy, infrastructure, manufacturing, and information and communications technology.

To create a more conducive investment environment, the government plans to enhance competitiveness, streamline procedures, and foster stronger partnerships with the private sector. These measures are expected to attract foreign investment and support local businesses.

The minister highlighted ongoing reforms in the non-banking finance sector and the investment opportunities available in this area. He emphasised the government’s dedication to achieving Egypt’s Vision 2030 by implementing economic reforms and providing a stable, investor-friendly environment.

Moreover, Minister El-Khatib underscored the crucial role of the private sector in driving Egypt’s development goals. The government is committed to supporting the private sector through legal and regulatory reforms and the introduction of new investment incentives.

He concluded by stating that the ministry would work closely with other government agencies to ensure the effective implementation of these reforms, ultimately aiming to improve Egypt’s international standing in trade and investment.

The minister made his remarks at the Speaking at 𝐄𝐱𝐩𝐥𝐨𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐄𝐠𝐲𝐩𝐭𝐢𝐚𝐧 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐚𝐧𝐝 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞 session on the sidelines of the door-knock mission to the UK orgainsed by the British Egyptian Business Association (BEBA).