Ahmed Kamel – Egypt Daily News
Egypt has announced plans to double its annual foreign direct investment inflows from the current level of approximately $12 billion, as part of a broader economic restructuring program aimed at accelerating growth and improving the investment climate.
Speaking on the government’s economic policy reform agenda, Minister of Investment and Foreign Trade Hassan El-Khatib said the state is targeting sustainable annual GDP growth of between 6 and 7 percent, emphasizing that investment volume, rather than traditional macroeconomic indicators alone will serve as the primary measure of progress in the coming period.
Central to the reform program is a sweeping overhaul of licensing and regulatory procedures that have long been cited by investors as a barrier to entry. Authorities plan to cut the average time required to obtain investment licences from around 24 months to fewer than 90 days through the launch of a unified digital platform. The new system is designed to replace a fragmented framework that previously required investors to deal with 41 separate entities and access more than 460 different services.
The government is also prioritizing foreign trade facilitation as a means of boosting competitiveness and reducing costs. Customs clearance times for goods have already been reduced from an average of 16 days to five days, with plans to bring the process down to just two days. According to El-Khatib, these measures alongside the decision to operate ports seven days a week, have generated annual savings worth billions of dollars while significantly improving operational efficiency.
Fiscal indicators have also shown marked improvement. Tax revenues rose by 35 percent over the past year, the highest growth rate recorded since 2005, a development the minister attributed to improved cooperation between the government and the private sector and more streamlined compliance mechanisms.
Looking ahead, El-Khatib identified several sectors as key drivers of Egypt’s future development, including renewable energy, electronics manufacturing, infrastructure, production optimization, artificial intelligence applications, and tourism. These areas are expected to play a central role in attracting long-term investment and supporting job creation.
The investment push comes as Egypt seeks to strengthen its international economic ties and enhance its appeal as a regional hub for trade and manufacturing. In a related development, Egypt and Tajikistan have recently signed a memorandum of understanding to simplify visa procedures, a move seen as part of broader efforts to facilitate cross-border business and mobility.
Taken together, the reforms signal an attempt by Egyptian authorities to reposition the economy around investment-led growth, reduce bureaucratic friction, and restore investor confidence amid challenging global economic conditions.
