Minister of Investment and Foreign Trade Hassan El-Khatib announced that Egypt aims to increase foreign direct investment (FDI) inflows by 20–30% this year, targeting around $12bn by the end of 2025. El-Khatib said Egypt's annual FDI inflows currently range between $8bn and $10bn, noting that the present period represents a strong opportunity to attract more investments despite global economic headwinds and declining capital flows. He stressed that the government is focused on enhancing the competitiveness of Egypt's investment climate through accelerated structural reforms and the adoption of more flexible and stable economic policies. Speaking at the EnterpriseAM Egypt Forum on Tuesday, El-Khatib underlined the importance of establishing a clear roadmap for promising sectors capable of attracting an additional $30bn in investments by 2030 to sustain growth rates of 6–7%. He highlighted digital transformation as a cornerstone of Egypt's strategy to improve the business environment, revealing that more than 96 government entities previously interacted with investors through multiple systems and fees. A comprehensive plan has been launched to streamline this process, consolidating them into just five systems in its initial phase. In June, the ministry rolled out a temporary unified digital platform connecting 41 government bodies and offering over 460 online services for investors. El-Khatib said a new integrated platform will soon be introduced to cover all stages of company establishment, licensing, and approvals—simplifying procedures, reducing time and costs, and aligning with global best practices. The minister added that Egypt is pursuing balanced trade relations, noting that the upcoming Egypt–EU Summit will feature new agreements aimed at expanding trade, investment, and industrial localisation. He underscored Europe's growing interest in Egypt as a regional hub, citing its competitive costs, strong infrastructure, and skilled labour force. On China, El-Khatib emphasised Egypt's focus on balanced partnerships that prioritise local manufacturing and technology transfer, welcoming investments that contribute to industrial localisation. He also pointed out that, with support from the World Bank, Egypt has identified key FDI priority sectors—tourism, information technology, automotive components, agriculture, and textiles—which have already attracted increasing interest from Turkey, China, and other markets. He noted that the government is implementing targeted programmes to boost production and exports, including the Automotive Industry Development Programme, which has so far attracted four companies, with another major manufacturer expected to establish a regional hub in Egypt soon. While tourism remains a key pillar of the economy, El-Khatib said the government's current focus is on building strong national companies in promising sectors to ensure sustainable growth and strengthen Egypt's role as a regional trade and investment centre. The minister also highlighted progress in reducing customs clearance times from 14 to 5.8 days, with a goal of reaching two days by the end of the year, thanks to new risk management reforms and electronic integration across 27 government entities. He noted that the government has adopted a new operational model that doubles annual working hours to 4,000 and introduces weekly performance reviews to enhance efficiency. El-Khatib concluded by stressing that Egypt is developing an integrated economic system linking key sectors—transport, utilities, and services—to improve competitiveness and double export growth within three years through a sustainable, investment-driven expansion of GDP.
