Egypt's Prime Minister Moustafa Madbouly held a meeting to review investment opportunities in the tourism and antiquities sectors, in a bid to enhance foreign direct investment (FDI), according to a Cabinet statement. Madbouly stressed that the government is working on setting clear plans with specific targets to present investment prospects across various sectors, with tourism being among the top priorities due to its economic potential. Tourism Minister Sherif Fathy announced the establishment of a unit to oversee and gather investment opportunities, creating an "investment opportunity bank" to encourage increased involvement from the private sector and foreign investors. Fathy presented an investment map for the tourism and antiquities sectors, noting the country aims to welcome 30 million tourists annually by 2031. This target is closely linked to the growth in available hotel capacity, he said. He noted that 2024 saw the addition of 7,200 hotel rooms — 55 per cent of which were new capacity — while 2025 is expected to witness the addition of around 19,000 rooms through new projects, expansions, and government-led initiatives. Hassan El-Khatib, Investment and Foreign Trade Minister, affirmed that tourism and antiquities represent critical areas of investment given Egypt's ambitious targets to increase inbound tourism. He noted that related opportunities will be made available on the national investment map along with all relevant data for prospective investors. El-Khatib added that the strategy's methodology includes thorough sectoral diagnostics, priority identification, reform and legislative proposals, and the preparation of a comprehensive investment map with ready-to-implement projects. The implementation timeline, he explained, involves holding bilateral meetings between the Investment Ministry and relevant ministries to highlight sector strengths, investment prospects, and existing challenges. Attribution: Amwal Al Ghad English
