Egypt's Minister of Investment and Foreign Trade, Hassan El-Khatib met on Tuesday with a delegation from Moody's as part of the periodic review of Egypt's credit rating. The meeting, attended by representatives from key government agencies, centered around the country's ongoing efforts to enhance its investment climate and boost foreign trade. Minister El-Khatib stressed the importance of creating innovative strategies that focus on empowering the private sector, developing economic infrastructure, and fostering an investor-friendly environment. He highlighted the government's push to expedite reforms aimed at improving economic efficiency and strengthening investor confidence. The private sector must play a pivotal role in driving economic growth, said Minister El-Khatib noted, underscoring Egypt's commitment to sustainable development through active collaboration with global partners. The minister also outlined ongoing efforts to attract both local and foreign investments by implementing financial, monetary, and procedural reforms aimed at reducing investor burdens and increasing transparency. He also highlighted Egypt's numerous free trade and preferential trade agreements, emphasising their role in enhancing Egyptian exports and competitiveness in global markets. Additionally, Minister El-Khatib spotlighted the promising renewable energy sector, anticipating significant growth and reaffirming Egypt's drive to attract more investments into this crucial field. The banking sector's role in facilitating investment through accessible financing options was also discussed. The minister emphasised that Egypt's collaboration with global institutions like Moody's is vital for bolstering international confidence in the country's economy. The Moody's delegation expressed their readiness to offer technical support and recommendations that would further elevate Egypt's long-term credit rating. Attribution: Amwal Al Ghad English
