The discussions focused on a multi-pronged approach to bolster Egypt's economic competitiveness and attract foreign direct investments (FDI). According to Ambassador Mohamed El-Shenawy, Presidential Spokesperson, this includes a unified national investment strategy encompassing structural reforms, clear policy frameworks, stimulating financial policies, open trade, ensuring energy supply, promoting the private sector, and advancing digital transformation.
Efforts to alleviate investor burdens were also highlighted,
specifically through simplifying investment procedures, streamlining licensing
via a unified electronic platform, and reducing non-tax financial charges. President
El-Sisi underscored the importance of improving the investment climate and
solidifying Egypt's position as a regional FDI hub.
The meeting also addressed the Sovereign Fund of Egypt for
Investment and Development, focusing on maximizing the value of its affiliated
companies and enhancing returns from state assets through effective management
and private sector partnerships.
Strategies to boost Egyptian exports were thoroughly
reviewed, covering non-petroleum exports, historical contributions to the
economy, and future targets to access new markets and enhance product
competitiveness. Investments in export-supporting infrastructure were also
discussed.
Key infrastructure projects were highlighted, including
developments for a dirty dry bulk station at Abu Qir Naval Port, aiming to
establish Egypt as a global hub for transport and logistics. A study for a
logistics station to handle iron ore and billets in the Adabiya area was also
reviewed, aligning with ambitions to transform Egypt into a global center for
the iron and steel industry.
Finally, the President was briefed on efforts to study, improve, and restructure economic entities, as well as the progress of the National Structural Reform Program and collaborations with the European Union on macroeconomic and budget support. The meeting also saw discussions on the impending launch of the National Narrative for Economic Development, which champions the private sector, manufacturing, exports, structural economic development, macroeconomic stability, FDI, and industrial growth. President El-Sisi urged the swift finalization of this narrative.