Egypt ramps up efforts to attract foreign investment, boost trade

Egypt is intensifying efforts to attract foreign direct investment (FDI) and strengthen its position as a regional trade hub, Minister of Investment and Foreign Trade Hassan El-Khatib stated during an Egyptian Association for Direct Investment and Venture Capital (EPEA) panel discussion on Monday.

Minister El-Khatib emphasised the government’s commitment to creating a more competitive and business-friendly environment, with a focus on streamlining investment procedures and offering sustainable opportunities that drive economic growth. He highlighted Egypt’s advanced infrastructure, rapidly developing new cities, and large consumer market as key factors for attracting investors. The country’s strategic location, providing access to markets in the Middle East, Europe, Africa, and Asia, further enhances its appeal.

The minister also pointed to Egypt’s competitive advantages, including the availability of renewable energy, free trade agreements with over 70 countries, and a range of investment incentives aimed at fostering a dynamic economic climate. He reaffirmed the government’s dedication to maintaining a flexible and stable economic environment, ensuring transparency and competitiveness to encourage private sector participation as the primary driver of growth.

In addition to boosting foreign investment, Minister El-Khatib stressed the importance of supporting local industries by protecting national products from harmful trade practices. While the private sector plays a crucial role in driving economic progress, he noted that the state remains committed to ensuring a fair and transparent investment landscape through its regulatory functions.

The panel discussion also addressed ongoing government efforts to review investment-related legislation and simplify procedures, as part of a broader strategy to enhance Egypt’s appeal to both domestic and international investors.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama