Egypt's Minister of Investment Hassan El-Khatib said the country has witnessed an unprecedented infrastructure transformation worth more than $500 billion over the past decade. El-Khatib made the remarks during the Egypt–EU Summit held Wednesday at the European Commission headquarters in Brussels, attended by senior Egyptian officials including Foreign Minister Badr Abdel-Atty and Minister of International Cooperation Rania Al-Mashat, alongside EU leaders and representatives of international financial institutions. The summit marked a "historic milestone" in relations between Egypt and the European Union, the ministry said, aiming to deepen cooperation in investment, industrial transformation, and sustainable development. El-Khatib highlighted Egypt's ambitious infrastructure drive, citing megaprojects such as the New Administrative Capital, New Alamein, and Galala City, as well as the National Road Project, which includes over 7,000 km of new roads, and expansions in metro, rail, and electric train networks. Egypt seeks to position itself as a regional investment hub linking Europe, Africa, and the Middle East. He said the government's economic reform programme is built on four pillars — monetary stability, fiscal discipline, trade openness, and redefining the state's role as a regulator rather than an operator. Egypt's inflation rate fell to 11.6 per cent in the second quarter of 2025, down from 28.5 per cent a year earlier, following the central bank's shift to an inflation-targeting regime, El-Khatib said. He added that ongoing tax and customs reforms have improved efficiency, with customs clearance times cut from 16 days in mid-2024 to 5.8 days in mid-2025, saving significant foreign currency. The minister also underlined Egypt's digital transformation, including the launch of a unified licensing platform offering 460 government services, and its commitment to implementing the World Bank's B-READY business readiness standards by 2026. El-Khatib stressed that Egypt's strategic location and diversified economy make it a vital link in global supply chains and a growing destination for European investment, as the country seeks to boost exports and strengthen private-sector participation in line with the State Ownership Policy. "Egypt's vision is to build an open, globally competitive economy that attracts international investment and delivers sustainable growth," he said, inviting European partners to expand their investments in priority sectors such as renewable energy, manufacturing, logistics, tourism, and ICT. Attribution: Amwal Al Ghad English
