Hassan El-Khatib, Minister of Investment and Foreign Trade, presented the Ministry's new strategic vision during a session of the House of Representatives. This marks a significant moment following the integration of the investment and foreign trade portfolios into a single ministry, reflecting the government's commitment to fostering synergies between investment and trade for sustainable economic growth. The session, chaired by Speaker Hanafi El-Gebali, was attended by parliamentary leaders, committee heads, and members of Parliament. El-Khatib praised the House of Representatives for its critical role in performing legislative and supervisory duties, highlighting the House's legacy as one of the oldest and most esteemed parliaments in the world. The Minister outlined the Ministry's strategy to enhance Egypt's competitiveness by creating an attractive investment climate for both local and foreign investors. He emphasized the importance of transparency, simplifying procedures, and providing institutional and legislative support to foster a business-friendly environment. A key focus is empowering the private sector as a pivotal partner in Egypt's development. The strategy also seeks to bolster Egyptian exports, improve trade policies, and promote value-added national industries to increase global competitiveness. El-Khatib acknowledged the challenges posed by recent geopolitical and economic shifts, stressing that the Ministry's vision aims to reinforce Egypt's standing as a regional and global investment and trade hub. In his address, El-Khatib emphasized the government's ongoing efforts to improve the business environment through fiscal, monetary, and procedural reforms. These reforms will establish a stable economic framework, simplify processes, and remove barriers to investment, providing confidence to both local and international investors. El-Khatib further discussed his participation in a session welcoming Stanford University MBA students, who visited Cairo to explore Egypt's business climate. The meeting covered topics such as economic transformation, entrepreneurship, and energy initiatives. Also present were prominent figures like Ahmed Heikal, Chairperson of Qalaa Holdings; Omar El-Hamamsy, CEO of Orascom Development Holding; and Ahmed El-Naggar, CEO of Daltex Corporation. The Minister shared details of a two-phase financial reform plan aimed at addressing company deductions and adjusting the solidarity contribution tax calculation. The second phase will involve sector-specific analysis in collaboration with key stakeholders. El-Khatib also outlined the government's plan to reduce customs clearance times to two days by 2025, which would lower logistical costs, enhance trade competitiveness, and streamline Egypt's foreign trade processes. These reforms are expected to improve Egypt's position in global trade indices, attract foreign direct investment (FDI), and create a more favorable business environment. El-Khatib also noted that Egypt's skilled workforce, industrial capabilities, energy resources, and strategic participation in free trade agreements enhance the country's global competitiveness. The Minister reaffirmed the government's commitment to boosting the role of the private sector in driving innovation, economic growth, and sustainable development. Strengthening public-private partnerships will be crucial in achieving these goals, generating jobs, and fostering long-term economic prosperity.
