Egypt Daily News – The Egyptian government is aiming to attract 6.5 billion dollars in new Kuwaiti investments by the end of 2026, including 4 billion dollars expected to be injected this year, according to two government officials who spoke on condition of anonymity.
This initiative comes as President Abdel Fattah El-Sisi visits Kuwait as part of a regional tour that also includes Qatar. The visit is focused on exploring avenues to expand economic and investment cooperation between Egypt and Kuwait.
The move follows a recent agreement between Egypt and Qatar on a direct investment package worth 7.5 billion dollars, to be implemented in the coming period, according to a joint statement released Monday.
Key sectors targeted
One of the officials noted that the expected Kuwaiti investments will target a wide range of sectors, including:
- automotive manufacturing
- tourism
- real estate development
- pharmaceutical and medical supplies
- renewable energy
- logistics centers
- infrastructure
- agriculture
- banking and telecommunications
- petrochemicals
- food industries
- transportation, roads, and ports
Incentives and facilitation for Kuwaiti projects
The second official said that the Egyptian government will offer additional incentives and facilitation for new Kuwaiti investments, especially in localizing industry and boosting tourism. This includes allocating industrial lands for projects—particularly those related to the automotive industry—with a high local component requirement.
There are currently 1,431 joint investment projects between Egypt and Kuwait. Kuwait ranks fifth overall among countries investing in Egypt and third among Arab nations, after the UAE and Saudi Arabia.
Kuwaiti investments in Egypt over the past three years are estimated at around 1.2 billion dollars, while bilateral trade in 2023 reached approximately 507 million dollars.
Fast-tracking projects with the “golden license”
Egypt has decided to automatically grant the golden license to all new Kuwaiti investment projects. This is part of the government’s commitment to streamline procedures and attract more Gulf investments into the country.
Launched in 2023, the golden license system offers a unified permit that allows investors to obtain a single approval covering the establishment, operation, and management of a project—including construction permits and land allocation.
This initiative runs parallel to similar measures announced by Prime Minister Mostafa Madbouly on Monday during a meeting with prominent Saudi businessmen in Cairo, where he promised that any new Saudi project will be directly presented to the Cabinet for golden license approval, with all necessary procedures expedited.
