Prime Minister Mostafa Madbouly has met with Minister of Investment and Foreign Trade Hassan El-Khatib to discuss strategies aimed at opening new markets and attracting foreign investments.
The Prime Minister highlighted the importance of the role of the Ministry of Investment and Foreign Trade in this critical stage.
The Egyptian government intensified its efforts to attract more foreign direct investments and encourage the private sector, maximizing its capabilities across various sectors, as outlined in the State Ownership Policy Document.
Madbouly said that last year witnessed an increase in foreign direct investment rates, attributed to initiatives under the government’s programs and projects like the Ras El Hekma deal, stressing the importance of continuing to achieve these investment rates.
The prime minister pointed out that integrating the file of foreign trade into the Ministry of Investment aligns with the objectives of enhancing coordination and achieving targets related to opening new export markets and attracting more foreign investments.
Madbouly emphasized the importance of cooperation and coordination with export councils and joint business councils to achieve the state’s objectives in this sector.
During the meeting, El-Khatib explained the role of the ministry and its vision for the upcoming period, emphasizing the significance of integrating investment with foreign trade due to their significant interdependence.
He underscored Egypt’s need to make leaps in both investment and export sectors, stressing the necessity of clear messages to investors, including policy stability in monetary and fiscal aspects, and the state’s commitment to implementing the state policy document. Moreover, he highlighted the importance of having specific targets that are actively pursued.
The Minister added that he will begin meeting with all stakeholders to formulate a clear strategy for investment and foreign trade. He emphasized the importance of targeting major investment entities globally to attract investment into Egypt, particularly in targeted sectors, with industry being a top priority.
The minister emphasized that Egypt needs to achieve leaps in both investment and export sectors. Therefore, messages directed to investors must be clear, focusing particularly on the stability of monetary and financial policies, and the government’s commitment to implementing the state policy agenda. Specific targets are also crucial and efforts are underway to achieve them.
He further stated that he would begin meeting with all stakeholders to formulate a clear strategy for investment and foreign trade. He highlighted the importance of targeting major international investment entities to attract investment to Egypt, especially in targeted sectors, with a focus on the industrial sector.
