Egypt seeking FDI boost with tourism sector investment opportunities
RIYADH: Egypt is intensifying efforts to attract foreign direct investment by opening new opportunities in its tourism and archaeological sectors, Prime Minister Mostafa Madbouly said during a high-level strategy meeting.
The gathering, which took place at the government headquarters in the New Administrative Capital, aimed at following up on the efforts of the Ministries of Tourism and Investment, according to a statement published on the Cabinet's official Facebook page.
This aligns with Egypt's goal of attracting 30 million tourists annually by 2028, aiming for a 25 percent to 30 percent year-over-year increase in inbound tourism as part of the nation's Vision 2030 for sustainable development.
'The government is working to formulate clear plans with specific targets to offer investment opportunities in various sectors, contributing to increasing foreign direct investment,' Madbouly said during the meeting.
During the assembly, Minister of Tourism Sherif Fathy announced the formation of a dedicated unit to monitor investment prospects. The initiative aims to establish an 'investment opportunities bank' that will showcase available projects in the tourism sector, supporting the country's efforts to meet its growth targets.
The statement said: 'In a related context, the Minister explained that 2024 witnessed an increase in hotel capacity of 7,200 additional rooms — 55 percent of which are new capacity, and during the current year 2025, it is expected to add approximately 19,000 new hotel rooms — new projects, expansions of existing projects, and initiatives.'
During the gathering, Fathy also presented the targeted investments in the field of antiquities preservation and restoration, noting that the Supreme Council of Antiquities has implemented an average of 36 projects annually over the past five years.
The minister then outlined the targeted investment distribution for the tourism and antiquities sectors from 2025 to 2031 across various governorates.
The plan includes developing hotel rooms, restaurants, safaris, camps, and amusement parks. It also focuses on investing in the rehabilitation and utilization of archaeological sites, establishing museums in partnership with the private sector, and enhancing services at heritage locations.
During the meeting, Investment and Foreign Trade Minister Hassan El-Khatib noted that the implementation timeline includes holding bilateral coordination meetings between the his department and the relevant ministries to present the strengths of each sector, available investment opportunities, proposed projects, and the challenges facing attracting investment.
He also stated that each ministry will conduct a comprehensive sectoral study, form joint working groups between the Ministry of Investment and Foreign Trade and each relevant ministry, and submit periodic reports to the Cabinet to monitor progress in implementing the sectoral investment strategy and achievement rates.
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