Egypt's Foreign Minister Badr Abdel-Atty called German companies to expand their investments in Egypt during a business forum in Berlin on Monday, spotlighting reforms aimed at improving the business climate and deepening economic ties between the two countries. Abdel-Atty met senior executives from leading German firms at an event jointly organised by the German Chamber of Commerce and Industry (DIHK) and the Federation of German Industries (BDI), the Foreign Ministry said in a statement. He told participants that Cairo is committed to strengthening its economic partnership with Berlin and elevating the role of the private sector in driving growth. He outlined ongoing efforts to streamline regulations, improve the legal and tax framework, and roll out the first phase of tax-relief measures. Egypt is "pressing ahead with wide-ranging reforms" to stimulate economic activity, upgrade infrastructure and attract foreign investment, the ministry quoted him as saying. Abdel-Atty also pointed to government moves to support small, medium-sized enterprises (SME) as well as start-ups and to offer new incentives in clean energy, industry localisation, ICT, pharmaceuticals and digital transformation. He highlighted opportunities in the Suez Canal Economic Zone (SCZONE), describing it as a strategic platform for global manufacturers thanks to its location and access to regional and international markets. Recent reforms, he said, have helped stabilise the exchange rate, boost foreign-currency reserves and bring inflation down sharply, setting growth back on a positive path. A broad discussion followed on expanding bilateral trade and investment and exploring new areas of cooperation as both sides look to unlock untapped economic potential, the ministry added. Attribution: Amwal Al Ghad English
