Egypt will launch a unified online licensing platform next month, offering 389 services to investors as part of a broader push to streamline bureaucracy and drive private-sector growth, Investment and Foreign Trade Minister Hassan El-Khatib said Monday. Speaking at an American Chamber of Commerce conference in Cairo, Minister El-Khatib said the digital platform aims to simplify regulatory processes, enhance transparency, and reduce friction for local and foreign investors. The move comes as Egypt ramps up efforts to double its GDP and raise exports to $145 billion annually by 2030. The government is also accelerating economic reforms across monetary, fiscal, and trade policy to attract capital and spur production. These include a shift toward a more flexible monetary framework to contain inflation, efforts to lighten the regulatory burden on investors, and plans to cut customs clearance times from 14 days to just two. Amid growing global protectionism, Minister El-Khatib said Egypt is committed to open trade policies aligned with World Trade Organisation rules, while also protecting local industries from harmful practices. The country will maintain its push to increase the value of exports as a share of GDP from 10 per cent to as much as 30 per cent. As part of its divestment strategy, Egypt is moving forward with its State Ownership Policy to reduce the government's direct role in economic activity. The Sovereign Fund of Egypt (TSFE) will oversee state assets with a long-term goal of building generational wealth, Minister El-Khatib said. Exporters will also benefit from a revamped subsidy programme starting in fiscal year 2024/25. Back payments for export support will be made within 90 days of shipment documentation, while a new, higher-budget rebate scheme will prioritise high value-added industries. Attribution: Amwal Al Ghad English
