Hassan El-Khatib, Egypt's Minister of Investment and Foreign Trade, has reaffirmed the country's continued commitment to implementing a broad package of economic reforms aimed at creating a more attractive and competitive investment climate for both domestic and international investors. "If we want to attract more foreign direct investment, our economy must become more competitive," he stated. El-Khatib made these remarks during a meeting with a delegation from the Shafik Gabr Foundation, which included 20 fellows from Egypt and the United States. The meeting took place as part of the foundation's Gabr Fellowship East–West initiative, which promotes dialogue, mutual understanding, and sustainable development through cultural and economic cooperation. The Minister highlighted Egypt's pivotal geographic role in connecting East and West and emphasized the country's growing potential as a regional investment hub. He outlined the significant economic transformation Egypt has undergone over the past decade, marked by substantial infrastructure investments that have improved the business environment and laid the foundation for long-term growth. El-Khatib discussed the state's ongoing economic reform agenda, which includes monetary policy measures aimed at curbing inflation, fiscal reforms focused on reducing fees and taxes, and trade policies designed to streamline customs procedures—reducing clearance times by up to 75%. These reforms, he noted, are essential for improving Egypt's global competitiveness and attracting sustained investment. He also pointed to a wide range of promising investment opportunities in Egypt's market, particularly in tourism, healthcare, information and communications technology, the automotive industry, and renewable energy. He stressed that renewable energy remains one of the most dynamic and strategic sectors for investment, as Egypt looks to expand clean energy projects and generate electricity from wind and solar sources, especially along the Red Sea coast. El-Khatib emphasized Egypt's strategic advantage as a digital and logistical hub, with approximately 70% of internet data traffic between Asia and Europe passing through the country. This unique positioning, he said, enhances Egypt's ability to become a key center for both global trade and digital services. He concluded by affirming the government's commitment to supporting labour-intensive and high-value engineering industries, including automotive, chemical, and green energy sectors. The state's goal, he added, is to double foreign direct investment through a focused, ambitious, and innovation-led reform program.
