Egypt aims to attract more foreign investment by improving business environment

Egypt aims to attract more foreign investment by improving business environment, according to Daily News Egypt. 

Egypt is making strides to increase foreign direct investment (FDI) by enhancing the business environment and streamlining administrative procedures, according to Hassan El-Khatib, the Minister of Investment and Foreign Trade. His remarks came during a panel discussion at an event organized by the Egyptian Private Equity and Venture Capital Association, which saw participation from prominent government figures including Rania Al-Mashat, Minister of Planning and Economic Development and International Cooperation, and Ahmed Kojak, Minister of Finance, among other business leaders.

During the discussion, El-Khatib highlighted the government's current initiatives aimed at revising legislation to improve the investment climate and simplify procedures. The goal is to make Egypt more attractive not just to foreign investors, but also to domestic ones, thereby enhancing its regional competitiveness as a key investment and trade hub.

El-Khatib underscored Egypt's commitment to fostering a conducive business environment that offers sustainable investment opportunities to support economic growth. He pointed out Egypt's advantageous attributes, such as its well-developed infrastructure, the emergence of new cities, a vast consumer market, and a skilled workforce. Additionally, Egypt's strategic geographic location enhances its accessibility to key markets in the Middle East, Europe, Africa, and Asia.

Highlighting the competitive edge of the Egyptian market, El-Khatib mentioned several factors including the availability of renewable energy resources, Egypt’s free trade agreements with over 70 countries, and unique investment incentives that collectively improve the investment climate.

Moreover, the minister stressed the government's efforts to create a flexible and stable economic environment characterized by transparency and competitiveness. He noted the state’s focus on empowering the private sector to drive economic growth, alongside supporting the localization of the industry and protecting national products from unfair trade practices. The government aims to position the private sector as a pivotal force in the economy while maintaining its regulatory role to ensure a fair and transparent investment environment.