The International Monetary Fund (IMF) mission, currently in Cairo to conduct the fifth and sixth reviews of Egypt's Extended Fund Facility programme, has commended the substantial progress achieved in the country's investment and trade reform files. The mission affirmed that Egypt's economic vision has become "clearer and more coherent", noting that recent measures demonstrate the state's seriousness and commitment to restoring confidence and attracting high value-added investments. This came during a meeting between the mission and Minister of Investment and Foreign Trade Hassan El-Khatib to discuss key economic developments, alongside ongoing financial, institutional and trade reforms. El-Khatib expressed optimism about the review process, stressing that the economy "continues to move in the right direction" and that many indicators are performing better than anticipated under the IMF-supported programme. This performance, he said, reflects the strength of recent government measures and their ability to deliver tangible results. He added that the government is advancing a clear and disciplined reform agenda designed to uphold macroeconomic stability while expanding the role of the private sector. Central to this approach, he noted, is the drive to improve the investment climate and enhance the efficiency of the trade system as a key pillar of sustainable growth. The Minister highlighted Egypt's adoption of a more open and effective trade policy aimed at boosting productive capacity, expanding market access, and deepening integration between trade and investment. This, he said, will support Egypt's ambition to position itself as a regional hub for exports and supply chains, reduce the trade deficit, and increase the value added of locally produced goods. El-Khatib also outlined progress in digital transformation as a core element of improving the business environment, including the rollout of digital platforms for licensing and economic activities—initiatives that streamline procedures for investors and strengthen transparency and administrative efficiency. He reiterated the government's commitment to reforms that simplify procedures, reduce non-tax burdens and enhance transparency, thereby creating a more stable and attractive environment for investment and providing businesses with greater clarity for future planning. IMF officials said discussions are progressing positively, expressing strong appreciation for the pace of reform and the ongoing improvements in the business climate—developments that, they noted, support optimistic expectations regarding the outcome of the current reviews.
