El-Khatib emphasized that Egypt is entering a new phase of
economic reform and institutional transformation aimed at building a more
competitive economy. The approach is based on transparency and integration
between financial, trade, and digital policies. He noted that stable fiscal and
monetary indicators reflect the government’s success in containing inflation
and boosting investor confidence.
The Minister highlighted a comprehensive program to simplify
procedures and facilitate trade. Customs clearance time has been reduced from
more than 16 days to 5.8 days, with a target of two days by the end of the
year. Customs ports now operate seven days a week through coordination between
the Ministries of Investment and Finance and all relevant authorities. These
reforms position Egypt as one of the most efficient and competitive
destinations in the region.
Digital transformation is central to improving the
investment climate, El-Khatib noted. An integrated digital system includes a
unified licensing platform that is pending full integration with the Economic
Entities Platform, in addition to the Egyptian Trade Platform. The system aims
to consolidate government services and permits, improve transparency,
accelerate processes, and achieve the state’s goal that no investor should need
to approach multiple government entities to obtain licenses or services.
El-Khatib also outlined plans to transition toward a
cashless economy by expanding electronic payment methods. Around 70% of
Egyptians are under 30, representing the main driver of digital transformation.
Mobile payment applications have expanded rapidly, making Egypt one of the
fastest-growing markets globally in this field.
Visa executives praised Egypt’s economic, structural, and
digital reforms. They confirmed that the Egyptian market has become a strategic
hub in the company’s global plan alongside Japan, Germany, Brazil, Mexico,
Saudi Arabia, and South Africa.
The company has quadrupled the number of employees in its
Cairo office to about 120, serving North Africa and the Levant. Visa has also
relocated its regional digital sales hub from Dubai to Cairo, citing Egypt’s
competitive advantages in operational efficiency, cost, and technological
infrastructure.
Visa officials expressed interest in expanding investments
in Egypt to develop new digital solutions in government payments and
e-commerce. The company has allocated over USD 12 billion in recent years to
enhance data security and combat electronic fraud.
El-Khatib concluded that Egypt is steadily advancing toward
becoming a regional hub for financial technology and digital services.
Cooperation with leading global companies such as Visa is a cornerstone for
building an integrated digital economy that supports financial inclusion and
strengthens Egypt’s role as a technological leader in the region.