Egypt's Minister of Investment and Foreign Trade, Hassan El-Khatib, announced that the government has implemented around 60% of 300 reform measures designed to improve the country's investment climate. He also revealed the creation of a comprehensive database containing more than 380,000 records, regularly updated to monitor performance and boost the efficiency of investor services. Speaking at an event organized by Entrepreneurs' Organization Cairo (EO Cairo), attended by business leaders, innovators, and strategic partners, El-Khatib outlined the state's efforts to strengthen investment and entrepreneurship, while highlighting the importance of international partnerships in advancing economic growth and competitiveness. El-Khatib noted that Egypt has undertaken a large-scale investment programme over the past decade, encompassing new cities, road networks, transport systems, and renewable energy projects. The government, he said, is managing its financial obligations sustainably and working to reduce the debt-to-GDP ratio. He explained that Egypt's economic vision is built on four main pillars — monetary policy, fiscal and trade policy, and the state's role in maintaining growth and stability — with a central focus on empowering the private sector as the primary engine of growth. El-Khatib added that tax reforms have bolstered trust and transparency by simplifying procedures and reducing administrative burdens, resulting in higher revenues and better compliance, while public debt has declined. In foreign trade, customs clearance times have been reduced by 63%, and ports now operate seven days a week, with the aim of cutting average clearance time to two days by the end of the year. The minister also said the government is reassessing state assets, improving governance within public enterprises, and preparing them for greater efficiency and productivity. At the same time, Egypt is digitising business establishment procedures, reducing steps from 34 to just 9. Turning to tourism, El-Khatib stated that Egypt has reached full capacity in several destinations, particularly the North Coast, which has become a major global tourist hub. The government, he said, aims to shorten project approval cycles from two years to just one month. He underscored the importance of industrial expansion and renewable energy, particularly solar power, noting ongoing efforts to strengthen transport and storage networks through public-private partnerships. Egypt, he said, is positioning itself as a regional energy export hub, with plans to expand green hydrogen and ammonia production supported by concessional financing to improve project feasibility. El-Khatib further stressed the need to localise manufacturing across Africa, promoting integrated industries rather than exporting raw materials. He reaffirmed Egypt's commitment to technology transfer and AI readiness, describing artificial intelligence as a transformative opportunity for developing countries that invest in digital infrastructure and human capital. Responding to participants' questions, he confirmed that Egypt currently enjoys a power surplus and is improving delivery systems to enhance efficiency and reduce costs. On solar energy, he noted that local production partnerships with global firms are already underway to achieve self-sufficiency. Concluding, El-Khatib said Egypt stands at a historic moment to consolidate its economic position amid global shifts. The government, he affirmed, is pressing ahead with financial and trade reforms, industrial localisation, and investments in renewable energy and AI, to strengthen Egypt's standing as a regional hub for investment, trade, and technology.
