ALEXANDRIA, Egypt, April 6 (Reuters) – Egyptian Minister of Investment and Foreign Trade, Hassan El-Khatib, met with members of the Alexandria Chamber of Commerce and representatives of the city's business and investment community during a visit to Alexandria. The meetings aimed to bolster cooperation with the private sector, improve the business environment, promote exports, and attract investment. During the visit, El-Khatib emphasised the importance of the chambers of commerce. "The chambers of commerce are of pivotal importance as a strategic partner in economic development," he said, praising the Alexandria chamber's role in supporting businesses and fostering growth. Alexandria Governor Ahmed Khaled echoed this sentiment, highlighting the role of chambers of commerce in attracting investment and promoting exports. El-Khatib, accompanied by Governor Khaled, inspected the Alexandria Chamber of Commerce building, including its solar energy unit and logistics centre, which provides services to chamber members. In a statement released by the Ministry of Investment and Foreign Trade, the Minister outlined Egypt's investment landscape and future plans for improving the business environment. "The government aims to create an attractive and stimulating investment climate for the private sector through clear and long-term policies," El-Khatib said, adding that this was intended to empower the private sector to lead economic development. He explained that the state is implementing financial, monetary, and trade policy reforms and adopting measures to reduce customs clearance times and lower logistics costs, thereby improving foreign trade efficiency and enhancing the competitiveness of the Egyptian economy. El-Khatib highlighted Egypt's modern infrastructure, new cities, large consumer market, skilled workforce, and strategic geographic location connecting it to three continents. He also pointed to free trade and preferential agreements with over 70 countries, making Egypt a key gateway for investment and trade in the region. The Minister noted the Ministry's efforts to double the assets and investments managed by the Sovereign Fund of Egypt and maximise returns on state assets through public-private partnerships. He affirmed that the current period represents a transition from state management of the economy to empowering the private sector to lead development. During the meeting, El-Khatib listened to the views and proposals of business representatives on improving the investment and trade environment. He also addressed the challenges facing investors in various sectors, promising to study these issues and task specialised teams with developing practical and rapid solutions. He emphasised the government's commitment to removing obstacles and providing a more efficient and stable business environment. In response to inquiries about export support, El-Khatib announced that the new export subsidy programme would be launched during April, with increased financial allocations. "The programme will see an increase in its financial allocations, reflecting the state's commitment to supporting exporters, stimulating export growth, and enhancing the presence of Egyptian products in international markets," he stated. Regarding the promotion of Egyptian exports to African markets, El-Khatib said that this was a national priority. The Ministry is coordinating with relevant entities to implement measures, including activating Egyptian logistics centres in African countries to facilitate exports and strengthen the presence of Egyptian products in those markets. Governor Khaled welcomed El-Khatib and the Alexandria business community, calling AlexandriaEgypt's premier commercial city and commending the Ministry's efforts to increase investment opportunities. "Improving the investment and trade climate is at the top of Alexandria's work agenda, to contribute to raising the standard of living of the Alexandrian citizen in general, through the creation of more projects and job opportunities, as well as stimulating the business performance climate and attracting investments," Khaled said. Khaled stated that Alexandria possesses numerous investment opportunities across the tourism and industrial sectors, accounting for approximately 60% of Egypt's trade volume and contributing nearly 40% of the country's total industrial output, making it a major industrial and commercial hub. He added that the state aims to place Alexandria on the global economic map by adopting an economic and developmental approach that supports investors in expanding their activities and promotes public-private partnerships and innovation.
