Egypt Daily News – President El-Sisi has underscored the importance of continuing efforts to improve Egypt’s investment climate and enhance its position as a regional hub for attracting foreign direct investment, in line with national priorities. He also directed the government to focus on maximizing returns from state assets and generating added value for the Egyptian economy through effective management, innovative strategies, and partnerships with the private sector.
These directives were issued during a high-level meeting attended by Prime Minister Dr. Mostafa Madbouly, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Lieutenant General Kamel El-Wazir, Minister of Planning and Economic Development Dr. Rania Al-Mashat, Minister of Finance Ahmed Kouchouk, and Minister of Investment and Foreign Trade Eng. Hassan El-Khatib.
The meeting focused on launching Egypt’s National Economic Development Narrative, which includes various policy pillars aimed at enabling the private sector to lead growth and job creation. The narrative emphasizes industrialization, export orientation, structural economic transformation, the implementation of essential structural reforms, macroeconomic and financial stability, and an increase in foreign direct investment and industrial development. President El-Sisi instructed officials to finalize the narrative promptly.
According to the official spokesperson for the Presidency, the President was briefed on current measures aimed at enhancing Egypt’s economic competitiveness and boosting foreign direct investment. These include the development of a unified national investment strategy built on structural reforms, clear and stable policies, incentivizing fiscal frameworks, open trade policies, ensuring energy availability for investors, encouraging private sector participation, and accelerating digital transformation as a cornerstone of development.
The discussions also addressed efforts to ease the burdens on investors, particularly by simplifying and streamlining investment approvals and licensing procedures. A new unified digital platform for electronic licensing is being developed to facilitate these processes. Additionally, the government is working on reducing non-tax financial burdens on investors and businesses.
The meeting also reviewed the activities of Egypt’s Sovereign Fund for Investment and Development. Discussions focused on the fund’s operational and legislative frameworks, strategies to enhance the value of affiliated companies, and efforts to assess and manage state-owned enterprises to ensure higher investment returns and increased internal revenue.
Further discussions covered the development of Egyptian exports, especially non-oil exports. The meeting examined export performance between 2003 and 2024, as well as future export targets. These include expanding into new sectors and markets, improving the global competitiveness of Egyptian products, and investing in export-supporting infrastructure.
Moreover, the meeting addressed the progress of strategic projects such as the establishment of a dry bulk terminal at Abu Qir Port, part of Egypt’s broader plan to become a global hub for transport, logistics, and transit trade. Also under review was a feasibility study for a logistics station in Adabiya to handle and store raw iron and billets, in line with efforts to position Egypt as a regional leader in the iron and steel industry.
Finally, President El-Sisi was briefed on ongoing efforts to review and restructure economic authorities, highlighting key steps taken to improve their performance. The meeting also included updates on the national structural reform program and cooperation with the European Union, particularly regarding the Macroeconomic Support Mechanism and general budget assistance agreement.
