Egypt's Ministry of Investment and Foreign Trade hosted the 5th session of the Egyptian-Hungarian Business Forum on Thursday, attended by officials and trade delegations from both Egypt and Hungary, as per a Cabinet statement. Minister of Investment and Foreign Trade Hassan El Khatib highlighted the forum's goal of exploring vast opportunities for cooperation between the two countries in investment and trade. He emphasised that the forum aims to foster long-term partnerships that will drive economic growth, innovation, and prosperity for both nations. El Khatib also pointed out that Egypt has embarked on an ambitious transformation to establish itself as a leading investment hub in Africa. Egypt attracted $46.6 billion in foreign direct investment (FDI) in 2024, reflecting growing confidence in the Egyptian economy, he added. The country's targets include attracting $60 billion in FDI, achieving exports worth $145 billion, and ensuring that 65 per cent of investments come from the private sector by 2030. The minister emphasised that these goals form a clear roadmap for future growth and that Hungary, with its rich history of innovation and specialised expertise, is well-positioned to collaborate with Egypt in key sectors such as energy, green economy, industry, technology and digital transformation, and healthcare. Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó confirmed ongoing negotiations to enhance cooperation in energy, agriculture, and water sectors. He also highlighted progress on projects to build new power plants in Egypt. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
