Egypt is focused on attracting increased foreign direct investment by improving the business environment and streamlining procedures, according to Hassan El-Khatib, Minister of Investment and Foreign Trade. El-Khatib made the remarks during a panel discussion organized by the Egyptian Private Equity and Venture Capital Association. The event was attended by Rania Al-Mashat, Minister of Planning and Economic Development and International Cooperation; Ahmed Kojak, Minister of Finance; Ayman Soliman, head of the Egyptian Private Equity and Venture Capital Association; and a number of Egyptian business leaders. El-Khatib outlined the government's efforts to facilitate investment and promote foreign trade. The discussion addressed government initiatives to revise legislation related to improving the investment climate and simplifying procedures, with the goal of enhancing Egypt's appeal to both domestic and foreign investors. El-Khatib emphasised the state's commitment to attracting more foreign direct investment by focusing on improving the business environment and easing procedures. This is intended to strengthen Egypt's competitiveness as a major investment and trade destination in the region. He stated that the ministry is committed to providing sustainable investment opportunities that support economic growth. El-Khatib pointed to Egypt's developed infrastructure, new cities, large consumer market, and qualified workforce, as well as its strategic geographic location that facilitates access to markets in the Middle East, Europe, Africa, and Asia. He stressed that the Egyptian market has attractive investment components, which are reflected in the increasing demand from new companies that have already begun investing in Egypt, taking advantage of growth opportunities and diverse investment incentives. He clarified that the Egyptian market has several competitive advantages, including the availability of renewable energy sources, Egypt's free trade agreements with more than 70 countries, and unique investment incentives that enhance the investment climate. El-Khatib stressed that the ministry is currently working to create a flexible and stable economic environment and to establish an investment climate characterised by transparency and competitiveness. He noted the state's direction towards empowering the private sector as the main driver of economic growth. He added that the state supports the localization of local industry by protecting national products from harmful trade practices. He noted that the state is working to give the private sector a pivotal role in driving the economy, while continuing in its regulatory role to ensure a fair and transparent investment environment.
