Egyptian PM directs government to prepare investment package for US firms
In a meeting with his Cabinet ministers, Mostafa Madbouly stated that several opportunities are available, particularly given the significant advantages offered by the country's government to foreign investors, according to Egypt's State Information Service.
Egypt is intensifying efforts to attract foreign direct investment as part of its broader economic reform agenda and Vision 2030 strategy for sustainable development.
Amid global headwinds and domestic economic challenges, the Egyptian government has launched several initiatives to deepen economic partnerships with major international players, notably the US.
One key milestone in this effort was the US–Egypt Policy Leaders Forum 2025, held in May, at which Madbouly announced that over 1,800 US companies are currently operating in the country, generating $47 billion in investments over the past two decades.
Discussing the latest Cabinet meeting, the Egyptian State Information Service reported that Madbouly 'highlighted the government's interest in supporting Egyptian-US relations in light of the strategic and historical ties between the two sides, noting the many opportunities for cooperation that could be exploited to support joint collaboration.'
The Egyptian prime minister added that his government is keen to remove all obstacles to joint cooperation, as well as to propose specific projects that will be discussed for collaboration in the upcoming period.
During the gathering, Egypt's Minister of Industry and Transport, Kamel Al-Wazir, reviewed investment opportunities presented to US companies in sectors such as ports, maritime transport, and industrial zones.
Minister of Planning, Economic Development, and International Cooperation Rania El-Mashat outlined Egypt's development cooperation efforts with the US, highlighting successful collaborative programs that contribute to the country's development and further strengthen relations between the two sides.
At the conclusion of the meeting, Madbouly instructed all relevant authorities to coordinate on preparing a set of promising investment opportunities and to ensure they are presented to US companies, to boost foreign direct investment in Egypt.
Egypt, Germany in talks for €100m debt swap deal
International Cooperation Minister Rania Al-Mashat spoke at a joint press conference in Cairo with Foreign Minister Badr Abdelatty and Germany's Minister for Economic Cooperation and Development Reem Alabali-Radovan. State Information Service
In another major development, Al-Mashat announced that the country is in talks with Germany over a new debt swap agreement worth €100 million ($116.48 million), to be disbursed in two tranches.
The first tranche is expected in December 2025 and the second in June 2026, according to the north African country's State Information Service.
'These negotiations reflect the strength of Egyptian-German development cooperation and shared priorities in supporting sustainable development projects,' said Al-Mashat.
According to Egypt's Ministry of International Cooperation, the total value of debt swaps between Egypt and Germany would reach €340 million with this new agreement.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arab News
10 hours ago
- Arab News
Top Pakistani general meets Egyptian president, leadership to discuss military, counterterrorism cooperation
ISLAMABAD: A Pakistani top general met Egyptian President Abdel Fattah El-Sisi and the country's senior civil and defense leadership on Thursday to discuss regional situation, military and counterterrorism cooperation, the Pakistani military's media wing said. General Sahir Shamshad Mirza, who is Pakistan's chairman joint chiefs of staff committee (CJCSC), is in Egypt for the third round of defense and security talks between the two countries. During the visit, he met senior Egyptian officials such as El-Sisi, General Abdel Mageed Ahmed Abdel Mageed Saqr, minister of defense and military production and commander-in-chief of the Egyptian Armed Forces, Admiral Osama Mounier Mohamed Rabie. He also met the chairman and managing director of the Suez Canal Authority, as well as Professor Dr. Ahmed Mohamed Ahmed El-Tayeb, the grand imam of the Al-Azhar institute, the Inter-Services Public Relations (ISPR), the Pakistani military's media wing, said. 'Discussions focused on bilateral military cooperation, security, counterterrorism and prevailing regional situation,' the ISPR said. 'Dignitaries from both sides emphasized upon the shared interest in further strengthening and expanding existing military-to-military relationship in the domains of training, joint military exercises and defense cooperation.' Speaking to El-Tayeb, Mirza highlighted the importance of religious and inter-faith harmony to promote tolerance, inclusivity and address the underlying causes of 'terrorism,' the military's media wing said. 'Egyptian dignitaries lauded the professionalism of Pakistan Armed Forces and acknowledged their sacrifices in the fight against terrorism,' the ISPR said. Mirza was presented a guard of honor by an Egyptian Armed Forces contingent upon his arrival at the Ministry of Defense, the military's media wing said. Pakistan and Egypt have cordial ties and both countries have resolved in recent years to facilitate businessmen with visas, exchange trade-related information and promote private-sector contacts. Earlier this month, senior officials of Pakistan and Egypt discussed enhancing bilateral cooperation in agriculture, food security and farming, with Islamabad expressing interest in learning from Cairo's successful experiences in these areas.
Leaders
10 hours ago
- Leaders
Saudi Arabia, Russia Review Progress of Joint Intergovernmental Commission
Saudi Arabia and Russia have explored the progress achieved within the framework of Joint Saudi-Russian Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation. As the co-chairs of the Commission, the Saudi Energy Minister, Prince Abdulaziz bin Salman, and the Russian Deputy Prime Minister, Alexander Novak, met in Riyadh, according to the Saudi Press Agency (SPA). During their meeting, both officials reviewed aspects of bilateral cooperation within the Commission's mandate. They also followed up on the progress achieved since the 8th session. This included the recently-announced operation of direct flights between Saudi Arabia and Russia and the signing of multiple memoranda of understanding (MoUs) across various fields, such as industry, education, media, and Hajj and Umrah. Furthermore, the two officials explored avenues for strengthening trade turnover and expanding cooperation in key economic sectors of mutual interest. They also discussed the ongoing preparations for the 9th session of the Joint Saudi-Russian Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation, scheduled for November 6, 2025 in Riyadh. Moreover, the discussions touched upon the latest developments in the oil market and the collaboration between Saudi Arabia and Russia within the framework of OPEC+. 'Another topic of discussion was the situation on the oil market and the prospects for cooperation between the two countries within OPEC+,' reported Russian news agency TASS. Short link : Post Views: 15
Asharq Al-Awsat
10 hours ago
- Asharq Al-Awsat
Hezbollah Chief Rejects Disarmament as Pressure on Lebanon Grows
Lebanon's Hezbollah leader Sheikh Naim Qassem said on Wednesday that calls for the Iran-aligned militant group's disarmament served only Israel, as the United States ramps up pressure for steps to remove its arsenal. "Those who call for submitting arms practically demand submitting them to Israel ... We will not submit to Israel," Qassem said in a televised address. Hezbollah emerged badly damaged from a war with Israel last year that eliminated most of the group's leadership, killed thousands of its fighters and left tens of thousands of its supporters displaced from their destroyed homes. The US is now pushing Lebanon to issue a formal cabinet decision committing to disarm Hezbollah before talks can resume on a halt to Israeli military operations in the country, five sources familiar with the matter told Reuters. Hezbollah has publicly refused to hand over its arsenal in full, but has privately weighed scaling it back. "Those who call for disarmament on a domestic, global or Arab level serve the Israeli project," Qassem said. He also said the US was demanding a removal of Hezbollah's missiles and drones because they "scare" Israel, accusing US special envoy Thomas Barrack of calling for disarmament for the sake of Israel and not Lebanon's own security. "Israel will not be able to defeat us and it will not be able to take Lebanon hostage," he added. In early July, Barrack met Lebanese officials in Beirut to discuss the disarmament proposal. It would see Hezbollah fully disarmed within four months in exchange for the withdrawal of Israeli troops occupying several posts in south Lebanon and a halt to Israeli air strikes. Hezbollah has been under pressure in recent months both within Lebanon and from Washington to completely relinquish its weaponry.
