Egypt, World Bank discuss investment reforms, trade policy overhaul

Egypt’s Minister of Investment and Foreign Trade Hassan El-Khatib met on Monday with a World Bank delegation to discuss the government’s economic vision, reforms to attract investment, and efforts to boost trade competitiveness.

The delegation included Abdulaziz Al Mulla, World Bank’s executive director for Egypt, and alternate director Hisham Seifeldin, the ministry said in a statement.

El-Khatib outlined Egypt’s strategy to maximise returns from state assets through the Sovereign Fund of Egypt (TSFE) and link investment and trade as key drivers of growth. He said Cairo is pursuing a mix of monetary, fiscal, and trade reforms alongside private sector partnerships and targeted incentives to strengthen Egypt’s position as a regional and global investment hub.

The minister highlighted tax reforms, streamlined fees, and a unified digital licensing platform covering 389 licences from 41 government agencies to improve transparency and compliance. He said a pilot of the Economic Entities Platform aims to simplify administrative procedures for investors.

Egypt is also preparing 209 reforms for inclusion in the World Bank’s Business Ready (B-READY) report, he said. Other measures include cutting average customs clearance times from 16 to 5.8 days — with a two-day target by year-end — and launching a new export cost reimbursement scheme to encourage higher value-added industries.

El-Khatib also unveiled Egypt’s first national trade policy and a foreign direct investment strategy targeting 13 priority sectors, supported by a detailed implementation and monitoring plan.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser