Egypt, EBRD Discuss Strategies To Boost Investment, Foreign Trade

(MENAFN- Daily News Egypt) Hassan El-Khatib, Egypt's Minister of Investment and Foreign Trade, met with a delegation from the European Bank for Reconstruction and Development (EBRD) to explore ways to strengthen the country's investment climate and review the bank's ongoing support for Egypt's economic development.

The discussions centred on the government's privatisation strategy and improving corporate governance to encourage greater private sector participation. Both parties emphasized efforts to solidify Egypt's standing as a leading destination for foreign investors.

El-Khatib highlighted the intrinsic link between investment and trade as twin pillars driving sustainable economic growth. He also underscored the pivotal role of the Sovereign Fund of Egypt (TSFE) in maximizing economic returns, reflecting the economy's true value, and securing resources for future generations.

Pointing to Egypt's competitive advantages in the industrial sector-such as skilled labour and advanced engineering capabilities-the minister noted the country's appeal for investments in engineering and intermediate industries. These strengths boost the competitiveness of Egyptian products in regional and international markets while attracting sustainable, high-value investments.

The minister further explained that Egypt's foreign direct investment (FDI) strategy is continuously refined through detailed sectoral analysis to pinpoint promising opportunities. This year has seen a marked increase in FDI inflows, with plans to double volumes to support economic growth through clear, stable policies designed to bolster investor confidence.

On trade policy reforms, El-Khatib affirmed Egypt's strategic goal to rank among the top 50 countries in global trade competitiveness. He revealed recent measures that have cut the time for products to enter the local market from 16 days to just 5.8 days, with a target of reducing this to two days by the end of the year.

The minister also emphasized Egypt's effective use of major trade agreements to expand global market access, balancing local industry protection with export promotion in compliance with World Trade Organization rules.

Efforts to improve the business climate were also discussed, with El-Khatib highlighting Egypt's leadership role in developing the new 'Business Ready' report, the successor to the Doing Business index. Many of the identified challenges have been addressed, and legislative reform proposals-most implementable within nine months-have been shared with the private sector.

Digital transformation remains a cornerstone of Egypt's investment facilitation strategy. El-Khatib announced the launch of an electronic platform capable of issuing 389 licences within 20 days, complemented by integrated e-payment services. Additionally, procedures are being re-engineered to reduce bureaucratic steps and processing times, easing the investment journey. Preparations are underway to launch the Economic Entities Platform-a unified digital gateway designed to support investors throughout all project phases.

The EBRD delegation praised Egypt's proactive reforms to enhance the business environment and attract investment. They commended the government's initiatives empowering the private sector as a key driver of economic growth and reaffirmed the bank's commitment to continuing its strategic partnership with Egypt.

MENAFN17092025000153011029ID1110077326