Egypt targets competitiveness and private capital as reforms enter delivery phase: investment minister

Hassan El-Khatib, Egypt's Minister of Investment and Foreign Trade, announced that the country has shifted from a stability phase to execution in its economic reform program. He emphasized a new focus on enhancing competitiveness, fostering export-led growth, and attracting private investment. These remarks came during his participation in the Egypt Investment Forum organized by EFG Hermes.

El-Khatib spoke at a meeting with leading global investors, attended by Karim Awad, Group CEO of EFG Holding, and Ghada Nour, Assistant Minister of Investment. He explained that the Egyptian government has prioritized restoring confidence in the national economy over the past year, describing it as the essential gateway to sustainable growth and enhanced competitiveness.

Egypt's economic reform program rests on four integrated pillars: monetary policy, fiscal policy, trade policy, and redefining the state's role as a regulator and enabler. On monetary policy, he highlighted the shift to inflation targeting, which has restored credibility, with net foreign assets returning to surplus, remittances reaching $36.5 billion, inflation dropping to around 12% in November, and foreign reserves nearing $50 billion.

Fiscal policy focuses on discipline without hindering growth, including simplifying the tax system, resolving disputes, expanding digitalization, and capping public investment to avoid crowding out the private sector. For the first time, the government conducted a comprehensive inventory of non-tax fees to reduce costs and improve transparency.

Trade policy is key to supporting investment and exports, with work underway on Egypt's first trade policy document since 2002 to expand exports and aim for a top-50 global ranking. El-Khatib stated: “To achieve the required increase in export figures, we are working to boost both foreign and domestic direct investment by encouraging hundreds of companies to invest in Egypt.”

Customs clearance times have fallen from 16 days to 5.8 days, targeting two days by the first quarter of 2026, generating $1.5 billion in savings now and $2.1 billion once fully implemented. A new export rebate program commits to payments within 90 days. Egypt's trade agreements provide access to African markets, backed by over $550 billion in infrastructure investments in ports, roads, and energy.

El-Khatib stressed that digital transformation is the main engine of reforms, with the Business Ready 2026 program encompassing 209 private-sector-led reforms. Egypt currently attracts about $12 billion in annual foreign direct investment, aiming to double it in priority sectors like renewable energy, tourism, and industry. North Coast projects will transform the tourism landscape through private-sector partnerships.

Liittyvät artikkelit

Egypt's Finance Minister Ahmed Kouchouk stated that the country is opening its doors to increased investment inflows, supported by strong competitive advantages and an enabling, attractive business environment. Speaking at a meeting of the Council of the Union of Arab Chambers of Commerce, Industry and Agriculture, Kouchouk explained that the government's tax and customs facilitation initiatives are designed to build trust and foster partnership with the business community, while delivering rapid and tangible results on the ground.

Raportoinut AI

Egypt's Minister of Investment and Foreign Trade Hassan El-Khatib announced that private sector investment rose 73% over the past year and continued to increase by 48% in the first quarter of this year. These statements came during meetings with the European Bank for Reconstruction and Development (EBRD) on the sidelines of the World Economic Forum in Davos. The ministers discussed boosting the bank's investments in Egypt and enhancing the national economy's competitiveness.

Egypt is seeking to align international development support with state fiscal reform priorities to maximise the effectiveness of technical and financial aid, Deputy Finance Minister for Fiscal Policy Yasser Sobhi said on Saturday. Speaking at the third annual meeting of the Public Financial Management coordination committee, Sobhi stated that the ministry is committed to completing its management development path by deepening cooperation with international partners. This coordination aims to support the implementation of reform efforts, stimulate economic growth, and improve the efficiency of public services and social protection programmes.

Raportoinut AI

Following his recent meeting with export councils, Prime Minister Mostafa Madbouly projected Egypt's non-oil exports to reach $48-50 billion by year-end—a 20% rise from 2024—while confirming the $145 billion total exports target by 2030 is achievable amid the lowest trade deficit in a decade.

 

 

 

Tämä verkkosivusto käyttää evästeitä

Käytämme evästeitä analyysiä varten parantaaksemme sivustoamme. Lue tietosuojakäytäntömme tietosuojakäytäntö lisätietoja varten.
Hylkää