Latest news with #Mostafa Madbouly
Arab News
a day ago
- Business
- Arab News
Egyptian PM directs government to prepare investment package for US firms
RIYADH: Egypt's prime minister has instructed his government to prepare a package of investment opportunities for US firms, aiming to strengthen bilateral relations. 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.
Zawya
a day ago
- Business
- Zawya
Madbouly, key ministers discuss boosting Egyptian-American economic cooperation
Arab Finance: Prime Minister Mostafa Madbouly held a ministerial meeting to follow up on efforts to enhance Egyptian-American economic cooperation, according to a statement. Madbouly emphasized the government's keenness to propose specific projects for discussion during the coming period, highlighting several promising opportunities available to American companies, especially in light of the Egyptian incentives offered to foreign investors. On his part, Minister of Foreign Affairs Badr Abdel Aty reviewed the communications and exerted efforts to support Egyptian-American relations, both bilaterally and regarding issues in the Middle East. Meanwhile, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El-Wazir highlighted the investment opportunities presented to US-based companies under consultation, whether in the ports and maritime transport sectors or industrial zones. During the meeting, Minister of Planning and Economic Development, and International Cooperation Rania Al-Mashat highlighted development cooperation efforts with the US through a number of successful cooperation programs that serve development efforts in Egypt and support relations between the two sides. Al-Mashat reviewed the features of the Egypt-US economic cooperation program, as well as the latest developments of projects funded by the United States Agency for International Development (USAID) in Egypt. Finally, Minister of Investment and Foreign Trade Hassan El-Khatib explained the ministry's efforts to support trade exchange between the two sides and support American investments in Egypt. At the conclusion of the meeting, the Prime Minister directed coordination between all relevant authorities to prepare a set of promising investment opportunities and follow up on their presentation to American companies within the framework of promoting foreign investments in Egypt. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
a day ago
- Business
- Zawya
Egypt to prepare investment package for U.S. companies, says PM
Egyptian Prime Minister Mostafa Madbouly has directed his government to prepare a package of investment opportunities to be presented to U.S. companies, as part of efforts to strengthen economic cooperation between the two countries. The directive came during a meeting on Sunday to follow up on efforts to enhance Egypt-U.S. economic ties, according to a cabinet statement. Madbouly stressed the government's interest in bolstering the strategic and historical ties between the two nations and its keenness to overcome any obstacles to joint cooperation. He noted that there are many promising opportunities available for American companies, given the significant incentives the Egyptian government offers to foreign investors. The meeting was attended by the ministers of planning, foreign affairs, and investment, while the minister of industry and transport participated via video conference. Minister of Industry and Transport, Kamel al-Wazir, reviewed investment opportunities that have been presented to U.S. companies in sectors including ports, maritime transport, and industrial zones. Minister of Planning and Economic Cooperation, Rania Al-Mashat, discussed development cooperation with the United States, including projects funded through the U.S. Agency for International Development (USAID). Foreign Minister Badr Abdel-Aty and Minister of Investment and Foreign Trade Hassan El-Khatib also reviewed their respective ministries' efforts to support bilateral ties, trade, and U.S. investment in Egypt. At the conclusion of the meeting, Madbouly instructed all relevant authorities to coordinate on preparing the set of promising investment opportunities and to follow up on presenting them to American companies to enhance U.S. investments in Egypt.
