Over 1,800 US companies operate in Egypt with $47bn invested over two decades: Madbouly

Daily News Egypt

25-05-2025

Egyptian Prime Minister Mostafa Madbouly addressed on Sunday the opening session of the US–Egypt Policy Leaders Forum 2025, underlining the strength of bilateral economic relations and reaffirming Egypt's commitment to private sector-led growth.
Madbouly began by expressing his pleasure in participating in this 'unique and important' forum, thanking the American Chamber of Commerce in Egypt and the United States for organizing the event. He extended a special welcome to Suzanne Clark, President and CEO of the US Chamber of Commerce, and John Christmann, CEO of Apache Corporation and Chairman of the US–Egypt Business Council, commending their leadership and efforts in bringing together top American business leaders.
He also welcomed all representatives of the American business community, noting that many US companies continue to thrive in Egypt. 'Today, more than 1,800 American companies operate in Egypt, with total US investments exceeding $47bn over the past two decades,' Madbouly stated. He emphasized that these companies are active across vital sectors—including energy, industry, information technology, financial services, and healthcare—reflecting the depth and resilience of economic ties between the two countries.
The Prime Minister underscored Egypt's consistent role as a reliable and engaged partner for the United States, particularly in the face of escalating regional challenges. He called for even stronger cooperation, noting that such partnerships are critical to addressing the complex political and security landscape of the Middle East.
Madbouly emphasized that the forum illustrates Egypt's commitment to empowering the private sector as a central pillar of its economic transformation strategy. This vision seeks to foster a competitive, open, and innovation-driven economy capable of generating jobs and ensuring long-term sustainable growth.
A key milestone in this strategy, he noted, is the implementation of the State Ownership Policy Document, which outlines sectors from which the state will reduce or exit its involvement. This policy sends a clear signal to investors regarding the government's shift toward enabling private enterprise.
He highlighted the expansion of public-private partnerships (PPPs) in key areas such as transportation, renewable energy, education, and water infrastructure—sectors where the private sector now plays a leading role in executing strategic national projects.
To support investment, Madbouly pointed to reforms like the launch of the 'Golden License' platform, which enables investors to establish and operate projects with a single Cabinet-issued approval. He added that Egypt has committed to financial and monetary reforms, the digitalization of government services, and the modernization of legal and regulatory frameworks—steps that have enhanced transparency, reduced bureaucracy, and improved the overall investment climate.
Madbouly urged American business leaders to explore Egypt's abundant investment opportunities, noting that Egypt is not only a large domestic market of over 107 million people but also a strategic gateway to Africa, the Middle East, and beyond. Through a vast network of trade agreements, Egypt offers access to more than 1.5 billion consumers.
At the heart of Egypt's economic transformation, the Prime Minister said, lies the development of its most valuable asset: its people. He highlighted the country's young, skilled, and innovative workforce as a driving force for growth and emphasized government investments in education, healthcare, and vocational training to prepare the population for future industries.
He also pointed to digitalization and financial inclusion as key pillars of Egypt's modernization. Through the Digital Egypt Strategy, the country aims to become a regional leader in digital innovation by integrating advanced technologies—including artificial intelligence, blockchain, the Internet of Things (IoT), and big data—into its economic sectors.
'These reforms are just a glimpse of the unprecedented transformation taking place under the leadership of President Abdel Fattah Al-Sisi,' Madbouly said, 'one that is paving the way for a brighter, opportunity-rich future.'
Before concluding his remarks, Madbouly made two significant announcements relevant to the American business community:
Automotive Sector Reform
He revealed that, following extensive discussions with US stakeholders, Egypt had taken steps to ease restrictions on importing fully US-origin vehicles. On May 11, 2025, Decree No. 112 was issued by the Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, canceling the requirement to comply with mandatory Egyptian standards listed in Catalogue No. 44 for engineering goods and products. This regulatory reform opens the Egyptian market to American vehicles without barriers, and the World Trade Organization (WTO) has been officially notified.
Halal Certification for Dairy Products
Madbouly also announced a permanent exemption for dairy products and derivatives from the requirement to obtain a halal certificate upon import. The exemption, officially notified to the WTO on March 12, 2025, under the Agreement on Technical Barriers to Trade, is a major step in boosting US–Egypt trade. Egypt's Ministry of Agriculture is also working to expand and diversify the entities authorized to issue halal certificates and is reviewing the fees associated with conformity assessments for goods requiring certification.
Finally, the Prime Minister revealed that Egypt and the United States are in the final stages of concluding a mutual cooperation agreement between their respective customs administrations—a development that promises to further streamline bilateral trade and enhance regulatory coordination.