Egypt holds consultative meeting to discuss national foreign direct investment strategy
Egypt's Ministry of Planning, Economic Development and International Cooperation hosted a consultative meeting on Tuesday to discuss the draft of the National Foreign Direct Investment (FDI) Strategy, prepared in collaboration with the World Bank Group.
The meeting, attended by representatives from 17 ministries, authorities and national entities, was held in accordance with the directives of President Abdel Fattah Al-Sisi to cooperate with the World Bank and study methodologies for enhancing FDI in Egypt. It also follows the directives of the Supreme Council for Investment, issued in May 2023, to develop a participatory and strategic vision for foreign investment in Egypt in coordination with the General Authority of Investment and Free Zones (GAFI).Minister of Planning, Economic Development and International Cooperation, Rania Al-Mashat, emphasized the importance of the meeting, noting that the development of the National Foreign Direct Investment Strategy, with the World Bank and relevant national entities, strengthens government efforts to attract and encourage foreign investments. She stated that the strategy aligns with the government's program objectives to build a competitive economy that attracts investments and leverages the significant components of the Egyptian economy.The meeting was attended by representatives from the Ministries of Planning, Economic Development and International Cooperation, Investment and Foreign Trade, GAFI, the Ministries of Finance, Industry and Transport, Communications and Information Technology, Agriculture and Land Reclamation, Tourism and Antiquities, Environment, Electricity and Renewable Energy, Housing, Utilities and Urban Communities, Supply and Internal Trade (MSIT), Justice, the Central Bank of Egypt (CBE), the Information and Decision Support Center (IDSC), the Central Agency for Public Mobilization and Statistics (CAPMAS), the General Financial Supervision Authority, the General Authority for the Suez Canal Economic Zone (SCZone), and the Micro, Small and Medium Enterprises Development Agency (MSMEDA).The Ministry of Planning, Economic Development and International Cooperation, in coordination with the Ministry of Investment, GAFI, and the World Bank Group, will continue to hold workshops and consultations with various stakeholders to gather feedback and incorporate observations into the new strategy. The government is committed to promoting and increasing both domestic and foreign investments and empowering the private sector.
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