Sustained economic reforms drive foreign investment in Egypt – FinMin

Minister of Finance Ahmed Kouchouk on Friday highlighted Egypt’s significant strides in attracting foreign investment over the past five years. He emphasised the importance of sustained economic reforms to further bolster the country’s growth and development.

Prioritising economic reforms

Minister Kouchouk stressed the need for continued reforms to create a conducive environment for investment.

Reducing financing costs

Lowering the cost of capital for both the government and private sector is crucial for minimising risks and ensuring economic stability, he noted.

Enhanced communication and transparency

The Egyptian minister stated that improving information dissemination and transparency will help attract investors and foster trust.

Showcasing Egypt’s achievements

Highlighting the country’s progress will improve its global image and attract more investment, he added.

Furthermore, Minister Kouchouk expressed confidence in Egypt’s ability to achieve these goals through collaborative efforts. He also noted the ongoing implementation of 30 structural reforms in partnership with the International Monetary Fund (IMF) and the European Union, demonstrating the government’s commitment to economic improvement.

The Egyptian minister made these remarks during a roundtable discussion took place at the Bank of New York Mellon Corp.’s (BNY) headquarters in London on the sidelines of the door-knock mission to the UK, which is organised by the British Egyptian Business Association (BEBA).