Latest news with #MinistryofInvestmentandForeignTrade
CairoScene
10 hours ago
- Business
- CairoScene
Egypt Targets 30M Tourists Annually by 2031 in New Investment Strategy
Egypt has unveiled a national tourism investment strategy aimed at attracting 30 million visitors annually by 2031, with expanded hotel capacity, restoration projects, and public-private initiatives. Jun 22, 2025 The Egyptian government has launched a new investment strategy targeting 30 million tourists per year by 2031. The plan was reviewed during a recent cabinet meeting chaired by Prime Minister Mostafa Madbouly, where sector-specific goals for tourism and antiquities were discussed. The strategy centres on increasing foreign direct investment by identifying clear opportunities within the tourism sector. The Ministry of Tourism and Antiquities will lead efforts to monitor and compile data on available projects through a centralised 'investment opportunities bank.' Expanding hotel capacity is a key component of the plan. In 2024 alone, 7,200 new hotel rooms were added across the country—more than half of which were newly constructed. By the end of 2025, the ministry expects to add another 19,000 rooms. The strategy also allocates funding for the development of tourist-focused amenities such as restaurants, cafés, and heritage sites. Over the past five years, the Supreme Council of Antiquities has completed an average of 36 restoration projects annually, and further investments will support similar initiatives. From 2025 through 2031, new investment areas will include theme parks, desert safari experiences, hotel infrastructure upgrades, and the adaptive reuse of archaeological sites through public-private partnerships. The Ministry of Investment and Foreign Trade will incorporate these tourism projects into Egypt's national investment map, providing supporting data to help guide potential investors.
Daily News Egypt
4 days ago
- Business
- Daily News Egypt
Egypt targets top 50 global business readiness ranking with key reforms
Egypt's government is targeting a position among the world's top 50 economies for business readiness and has set a three-month deadline to implement the required reforms, the country's investment minister said. Minister of Investment and Foreign Trade, Hassan El-Khatib, made the statement during the second meeting of the National Committee for the 'Business Ready' report. The meeting was hosted by the ministry and attended by Cairo Governor Ibrahim Saber and other relevant government bodies. The committee reviewed the findings of the second report issued by its technical secretariat and discussed institutional participation indicators. 'The government is targeting a position among the world's top 50 economies for business readiness,' El-Khatib said, stressing the need to implement the required measures within three months. He emphasised the need for all sectors to participate effectively by completing the report's questionnaires to ensure a realistic and effective assessment of the business environment. He noted that the required procedural reforms are not complex and can be implemented immediately, which would create a significant shift in the country's competitiveness. The minister also stressed the importance of turning current challenges into genuine reform opportunities, pointing toEgypt's existing strengths. He cited the country's advanced infrastructure, including ports and railways, a clear plan for expansion into African markets, a highly skilled workforce and engineering talent, and the availability of renewable energy sources. For his part, Cairo Governor Ibrahim Saber affirmed the governorate's full readiness to cooperate with the Ministry of Investment and Foreign Trade to address any challenges that may hinder the implementation of the targeted reforms. The meetings of the National Committee for the 'Business Ready' report are part of a state-wide effort to enhance the readiness of its institutions to apply international business standards. The initiative aims to coordinate between different government agencies and integrate their roles to build a flexible and effective institutional system capable of keeping pace with global developments and improving Egypt's investment climate.
Zawya
11-04-2025
- Business
- Zawya
Ministry of Investment hosts Egyptian-Hungarian business forum to boost trade, investment ties
Arab Finance: The Ministry of Investment and Foreign Trade hosted the Egyptian-Hungarian Business Forum, attended by Minister of Investment and Foreign Trade Hassan El-Khatib; Hungary's Minister of Foreign Affairs and Trade Péter Szijjártó; and Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat, as per a statement. The forum, which included trade delegations from both countries, focused on exploring investment and trade opportunities between Egypt and Hungary. El-Khatib welcomed Szijjártó, noting that Hungary's high-level trade delegation visit demonstrates Hungary's commitment to strengthening economic ties with Egypt. He praised Al-Mashat for her efforts in bolstering Egypt's global partnerships and international presence. The forum's aim, according to El Khatib, was to explore significant cooperation opportunities between the two nations in sectors such as energy, green economy, industry, technology, digital transformation, and healthcare. El-Khatib emphasized Egypt's ambitious transformation plan to position itself as a leading investment hub in Africa. He highlighted that Egypt attracted $46.6 billion in foreign direct investment (FDI) in 2024 and is targeting $60 billion in FDI and $145 billion in exports by 2030, with 65% of investments coming from the private sector. El-Khatib stressed the potential for Egypt and Hungary to build lasting partnerships, leveraging Egypt's strategic location, young workforce, and growing infrastructure alongside Hungary's expertise in key areas. Szijjártó reaffirmed Hungary's strong relations with Egypt, underscoring the successes in transportation and communications, including the Egyptian Railways Modernization Project and the Egypt-Europe Fiber Optic Cable. He also noted ongoing negotiations to enhance cooperation in energy, agriculture, and water, as well as progress in power plant projects in Egypt. Szijjártó expressed pride in the growing people-to-people ties, citing the rise in Egyptian students in Hungary and the expanded air network between the two nations. Al-Mashat emphasized Egypt's commitment to sustainable development, the Egypt Vision 2030 strategy, and the continued focus on attracting foreign investment and strengthening public-private partnerships. She outlined efforts to accelerate economic reforms, enhance financial sustainability for key projects, and improve citizens' living standards, with a particular emphasis on renewable energy, education, and healthcare. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Al-Ahram Weekly
07-04-2025
- Business
- Al-Ahram Weekly
El-Sisi, Macron highlight strong Egypt-France economic partnership - Foreign Affairs
President Abdel-Fattah El-Sisi and his French counterpart, Emmanuel Macron, reaffirmed their commitment to strengthening bilateral ties, with a focus on economic cooperation and joint investments, during the Egypt-France Business Forum in Cairo on Monday. Both leaders' remarks were made at the forum's closing session, held on the sidelines of the French leader's official visit to Egypt. The forum, titled Testimonies and Visions on the French-Egyptian Partnership, was organized by the Ministry of Investment and Foreign Trade, the General Authority for Investment and Free Zones (GAFI), and the French Embassy in Cairo. Held at the El-Massa Hotel in Nasr City, the event featured Egyptian and French companies specializing in various fields, including health, new energy, green hydrogen, and artificial intelligence, among other areas. During the forum, President El-Sisi praised Macron's efforts to support and develop strategic relations between both countries, stressing Egypt's keenness to benefit from French expertise and companies' capabilities. "I sincerely thank you for the significant efforts you've made in developing relations between our countries. This partnership is one we greatly value," El-Sisi addressed Macron. He noted that investing in Egypt is a favourable opportunity for French businessmen and companies due to the significant efforts made over the past decade in infrastructure and basic services. "We've invested heavily in our infrastructure, including energy, ports, roads, and legislation," El-Sisi stated. He further highlighted the economic reform process and free trade agreements concluded by Egypt within the African and Arab frameworks. "Egypt is a land of opportunity," he said, emphasising the strategic opportunity for French companies to use Egypt as a hub for regional exports. The president also underscored Egypt's enormous potential and workforce, noting that 60 percent of Egypt's population of 107 million is under the age of 40. Additionally, he stressed the importance of establishing partnerships between Egypt and France in various fields, including health, industry, agriculture, education and tourism. The president also emphasized the necessity for industrial localization in Egypt. "It's crucial that we work together to localise industries in Egypt," he added. "This will help reduce the pressure on foreign currency reserves, especially as we import large quantities of essential goods and energy." He stressed the state's commitment to removing any obstacles facing French investors and elevating Egyptian-French ties to broader horizons. For his part, President Macron echoed El-Sisi's sentiments, underscoring France's long-standing commitment to Egypt. He emphasised France's position as Egypt's leading European investor outside the energy sector, with more than €7 billion in private investments and 50,000 jobs created by French companies. He underscored the Egyptian-French cooperation across health, energy, water, education, and infrastructure sectors. Macron also praised El-Sisi's leadership and reaffirmed his belief in Egypt's stability and investment potential. Earlier Monday, El-Sisi and Macron held talks in Cairo, where they witnessed the signing of several agreements and memorandums of understanding (MoUs) between both countries in various fields. Follow us on: Facebook Instagram Whatsapp Short link:
Al-Ahram Weekly
07-04-2025
- Business
- Al-Ahram Weekly
UPDATED: El-Sisi, Macron highlight strong Egypt-France economic partnership - Foreign Affairs
President Abdel-Fattah El-Sisi and his French counterpart, Emmanuel Macron, reaffirmed their commitment to strengthening bilateral ties, with a focus on economic cooperation and joint investments, during the Egypt-France Business Forum in Cairo on Monday. Both leaders' remarks were made at the forum's closing session, held on the sidelines of the French leader's official visit to Egypt. The forum, titled Testimonies and Visions on the French-Egyptian Partnership, was organized by the Ministry of Investment and Foreign Trade, the General Authority for Investment and Free Zones (GAFI), and the French Embassy in Cairo. Held at the El-Massa Hotel in Nasr City, the event featured Egyptian and French companies specializing in various fields, including health, new energy, green hydrogen, and artificial intelligence, among other areas. During the forum, President El-Sisi praised Macron's efforts to support and develop strategic relations between both countries, stressing Egypt's keenness to benefit from French expertise and companies' capabilities. "I sincerely thank you for the significant efforts you've made in developing relations between our countries. This partnership is one we greatly value," El-Sisi addressed Macron. He noted that investing in Egypt is a favourable opportunity for French businessmen and companies due to the significant efforts made over the past decade in infrastructure and basic services. "We've invested heavily in our infrastructure, including energy, ports, roads, and legislation," El-Sisi stated. He further highlighted the economic reform process and free trade agreements concluded by Egypt within the African and Arab frameworks. "Egypt is a land of opportunity," he said, emphasising the strategic opportunity for French companies to use Egypt as a hub for regional exports. The president also underscored Egypt's enormous potential and workforce, noting that 60 percent of Egypt's population of 107 million is under the age of 40. Additionally, he stressed the importance of establishing partnerships between Egypt and France in various fields, including health, industry, agriculture, education and tourism. The president also emphasized the necessity for industrial localization in Egypt. "It's crucial that we work together to localise industries in Egypt," he added. "This will help reduce the pressure on foreign currency reserves, especially as we import large quantities of essential goods and energy." He stressed the state's commitment to removing any obstacles facing French investors and elevating Egyptian-French ties to broader horizons. For his part, President Macron echoed El-Sisi's sentiments, underscoring France's long-standing commitment to Egypt. He emphasised France's position as Egypt's leading European investor outside the energy sector, with more than €7 billion in private investments and 50,000 jobs created by French companies. He underscored the Egyptian-French cooperation across health, energy, water, education, and infrastructure sectors. Macron also praised El-Sisi's leadership and reaffirmed his belief in Egypt's stability and investment potential. Earlier Monday, El-Sisi and Macron held talks in Cairo, where they witnessed the signing of several agreements and memorandums of understanding (MoUs) between both countries in various fields. Follow us on: Facebook Instagram Whatsapp Short link:
