Minister of Investment and Foreign Trade Hassan al-Khatib recently announced that the Egyptian government is implementing a strategy to improve the investment climate in the country. This strategy includes monetary, financial and fiscal reforms to facilitate investment measures and remove obstacles faced by local and foreign investors in Egypt.
In an expanded meeting with members of the US Chamber of Commerce and the Egyptian-American Business Council, in the presence of Minister of Planning, Economic Development and International Cooperation Rania el Mashat, Minister of Finance Ahmed Kouchouk, and Egyptian Ambassador to the United States Motaz Zahran, al-Khatib highlighted the Egyptian government’s efforts to provide a promising investment environment.
The Minister presented the investment opportunities available in Egypt, with the aim of increasing investments, improving production rates and increasing the volume of Egyptian exports to foreign markets, while creating an attractive and competitive business environment.
Al-Khatib said that Egypt enjoys a competitive advantage in labor-intensive industries, making it an ideal regional gateway for companies wishing to access African, Gulf, European and Latin American markets.
He also highlighted the significant developments in supply chains, as Egypt has become an attractive destination for investments from Asia and Europe. This attractiveness has been enhanced following the recent devaluation of the local currency, combined with the availability of a skilled workforce and quality infrastructure.
The Minister highlighted the crucial role of digital technology in improving customs procedures and simplifying trade operations. He stressed the government’s commitment to developing renewable energy projects, particularly in the fields of solar energy and green hydrogen, as part of a strategy for ecological transformation.
In conclusion, these efforts aim to strengthen Egypt’s investment sector, increase exports and position the country as a key player on the international stage. Implementing appropriate economic and fiscal reforms will promote the country’s sustainable growth and attract investors from around the world, thus contributing to Egypt’s economic development.