Egypt could attract up to $15 billion in additional industrial investments over the next two to three years as global manufacturers seek alternatives to high-cost markets, a senior trade official said on Tuesday. Yahya Elwathik Bellah, head of Egypt's Commercial Representation Authority, said Egypt's current industrial investment averages around $10 billion annually, but the country has a "golden opportunity" to double that figure amid shifting global trade dynamics. "We're facing a historic moment," Elwathik Bellah said during a virtual seminar hosted by the Egyptian Centre for Economic Studies (ECES). "Rising tariffs, especially on Chinese goods, and escalating production costs in countries like Turkey and China are driving manufacturers to look elsewhere. Egypt offers competitive labour costs, strategic trade agreements, and access to key markets, particularly the US." Products manufactured in Egypt that qualify for local origin status can benefit from reduced tariffs—often around 10 per cent—when exported to the United States under agreements such as the Qualified Industrial Zones (QIZ). "This allows foreign firms to base their operations in Egypt while preserving access to the American market," he said. He emphasised the need for urgency in government action. "If we move swiftly—cutting red tape and fast-tracking investment processes—we could see an influx of up to $15 billion in new industrial investments within just a few years." Elwathik Bellah pointed to upcoming visits by Chinese business delegations throughout April and May, indicating serious interest from foreign investors. He also noted that economic conditions in Turkey—where interest rates hover between 45–50 per cent and basic labour costs have climbed to as high as $1,000 per month—have made Egypt an increasingly attractive alternative. "In contrast, Egypt offers significantly lower operating costs. That gives us a strong competitive edge," he said. Beyond the US, Elwathik Bellah also sees opportunity in re-exporting US-branded products made in Egypt to Europe and other regions, capitalising on Egypt's growing export infrastructure. "If we act decisively, we can reposition Egypt as a key industrial hub for the region," he said. "This is not just about replacing lost trade flows, but about transforming Egypt into a global production platform." Attribution: Amwal Al Ghad English Subediting: M. S. Salama
