El-Khatib underscored the importance of linking investment and trade as fundamental pillars of economic development. He also highlighted the role of the Sovereign Fund of Egypt in maximizing returns, reflecting the economy's true value and ensuring resource sustainability for future generations.
He noted that Egypt's industrial sector offers promising
opportunities, benefiting from a strong competitive advantage in skilled labor
and advanced engineering. The high efficiency of its engineers and skilled
workforce makes Egypt an attractive destination for investments in engineering
and intermediate industries, which enhances the competitiveness of Egyptian
products in regional and international markets and attracts sustainable,
high-quality investments.
The Minister added that Egypt's foreign direct investment
strategy is undergoing continuous development, with in-depth analysis of
various sectors to identify promising opportunities. He noted that Egypt has
seen a remarkable increase in foreign investment this year, with plans to
double it to support economic growth through clear and stable policies that
enhance investor confidence.
He also addressed reforms in trade policy, stating that
Egypt has a strategic goal of ranking among the top 50 countries in global
trade competitiveness indicators. He explained that these efforts have reduced
the time for products to enter the local market from 16 to 5.8 days, with a
target of two days before the end of the year. He added that Egypt is
leveraging trade agreements with major economic blocs to enhance access to
global markets, while balancing the protection of local industries with the
promotion of exports in line with World Trade Organization rules.
El-Khatib highlighted efforts to improve the business
environment, explaining that Egypt is leading work on the new “Business Ready”
report, which replaces the "Doing Business" report. The country has
addressed major challenges and submitted proposed reforms to the private
sector, most of which are legislative and can be implemented within nine
months.
The Minister pointed out that digital transformation is a
key pillar for enhancing investment. He said an electronic platform has been
launched to issue 389 licenses within 20 days with e-payment availability. He
stressed that work is underway to re-engineer procedures to reduce steps, time,
and bureaucracy, which will make things easier for investors and enhance the
investment climate.
El-Khatib affirmed that efforts are ongoing to launch the
"Economic Entities Platform," which will be a unified digital
interface for dealing with investors at all project stages.
The EBRD delegation expressed its appreciation for the Egyptian government's efforts to enhance the business environment and attract investments. They praised the initiatives and reforms that have been implemented, which have enabled the private sector to contribute effectively to economic development. The delegation affirmed their commitment to continuing the strategic partnership between the bank and the Egyptian government.