During an open video-conference dialogue with 250 senior Turkish investors participating in the meeting of the Egyptian and Turkish Chambers of Commerce in New Alamein City, the minister explained that relations between the two countries are distinguished, and the private sector on both sides is capable of expanding joint investments—particularly in food industries, engineering industries, apparel, and home appliances.
He also added that the recent memoranda of understanding between the chambers of commerce represent an important step toward strengthening economic integration.
The minister highlighted that the Egyptian economy is witnessing great improvement, with private sector investments increasing by 73% over the past year.
He also pointed to the growth in non-oil merchandise and service exports, along with diversified and increasing foreign direct investment inflows, as part of Egypt’s efforts to become a regional hub for production and export to neighboring markets and Africa.
The minister emphasized that first-quarter indicators of the current fiscal year show continued improvement in economic performance led by the private sector, while maintaining a path of fiscal discipline aimed at reducing public debt.
This discipline, he said, provides additional fiscal space that can be directed toward increasing spending on human development and social protection for the most vulnerable groups.
He also underlined that the government's commitment to continuing to simplify procedures, stimulate private sector growth, and provide fiscal policies that support industrial, productive, and export activities, in addition to ongoing tax and customs facilitations to enhance trust with the business community.
For his part, Ahmed El-Wakil, President of the Federation of Egyptian Chambers of Commerce, underscored the importance of hosting the meeting with the Turkish Union of Chambers, highlighting efforts to promote industrial zones in Alamein, Gargoub, and Borg El Arab, and to deepen regional economic partnerships in support of sustainable development.