President Abdel Fattah El Sisi on Sunday reviewed ongoing efforts to boost the competitiveness of Egypt's economy and attract more foreign direct investment (FDI) through a unified national investment strategy. The strategy includes structural reforms, clear and stable policies, fiscal incentives, liberal trade policies, reliable energy supply, digital transformation, and support for the private sector. During a high-level meeting in Cairo, President Sisi was briefed on steps to ease investor burdens. These include simplifying procedures and approvals, launching a unified electronic licensing platform, and reducing non-tax financial burdens on companies. Sisi stressed the importance of improving Egypt's investment climate and reinforcing its position as a regional hub for FDI, aligned with national priorities. The meeting also addressed the progress of the Sovereign Fund of Egypt, particularly efforts to enhance the value of state-owned assets through effective management, innovative strategies, and private sector partnerships. Discussions covered efforts to increase Egyptian exports, especially non-oil exports. Officials reviewed export contributions to the economy between 2003 and 2024 and targets to penetrate new markets and improve the competitiveness of Egyptian products. Infrastructure investments supporting exports were also discussed. The meeting also reviewed the dry bulk terminal project at Abu Qir Port, part of Egypt's plan to become a global hub for transport, logistics, and transit trade. Officials presented a feasibility study for a logistics station in Adabiya for handling raw iron and billets, aiming to position Egypt as a global centre for steel production. Sisi was also briefed on restructuring economic authorities and the progress of the national structural reform programme, including coordination with the European Union under the macro-financial assistance mechanism. The meeting also tackled the new national economic development narrative. It aims to support private sector-led growth, promote manufacturing and exports, implement structural reforms, and enhance macro-financial stability and industrial development. Sisi directed officials to finalise the narrative promptly. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
