Sisi urges enhancing Egypt's position as regional hub for foreign investment

Egypt Independent

3 days ago

President Abdel Fattah al-Sisi on Sunday, June 1st, 2025, emphasized the importance of continuing efforts to improve the investment climate and to bolster Egypt's position as a regional hub for attracting foreign direct investment in line with national priorities.
Sisi met with Prime Minister Mostafa Madbouly, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel el Wazir, Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat, Minister of Finance Ahmed Kouchouk, and Minister of Investment and Foreign Trade Hassan al-Khatib, Presidential Spokesman Mohamed.
The President was briefed on executive steps taken to enhance the competitiveness of the Egyptian economy and increase foreign direct investment through a unified national investment strategy.
The strategy includes carrying out the necessary structural reforms, setting clear goals, implementing clear and stable policies, adopting incentive-based fiscal policies, embracing open trade policies, ensuring the availability of the energy required for investment, encouraging the private sector, and continuing digital transformation efforts as a cornerstone of development.
The meeting also addressed efforts to alleviate any burdens on investors, particularly in terms of simplifying and facilitating investment-related procedures and approvals in Egypt, streamlining licensing procedures through the launch of a unified platform providing electronic licensing services for investors, and reducing non-tax financial burdens imposed on investors and companies.
Sisi, also, reviewed the progress of the work related to the Sovereign Fund of Egypt, including the operational and legislative framework for maximizing the value of its affiliated firms, as well as efforts to inventory and monitor state-owned companies to ensure increased investment value and maximize their returns.
He directed to continue working on maximizing the returns from state assets and achieving added value for the Egyptian economy by managing them effectively through innovative strategies and partnerships with the private sector.
The meeting also addressed efforts to increase Egyptian exports, including the development of non-oil Egyptian exports.
It reviewed the contribution of Egyptian exports to the national economy from 2003 to 2024 and set export targets that include entering new export sectors, enhancing the competitiveness and attractiveness of Egyptian products in global markets, and investing in infrastructure to support exports.
The meeting also covered updates on the project to establish a dry bulk terminal at Abu Qir Port as part of efforts to transform Egypt into a global hub for transport, logistics, and transit trade.
In addition, the President reviewed a study on establishing a logistics station for receiving and handling iron ore and billet in the Adabeya area, within the framework of transforming Egypt into a global hub for the iron and steel industry.
The national structural reform program was reviewed, along with ongoing efforts with the European Union related to the macroeconomic support and general budget assistance mechanism.
The meeting also tackled the launch of the national narrative for economic development and its various pillars, which include supportive policies for the private sector to be the main driver of growth and employment, focusing the economy on manufacturing and exports, achieving structural development of the Egyptian economy, implementing the necessary structural reforms to drive the economy, enhancing macroeconomic and financial stability, boosting foreign direct investment, and fostering industrial development.
In this regard, President Sisi directed that the narrative be completed promptly.