Egypt is opening its doors to increased investment inflows, supported by strong competitive advantages and an enabling, attractive business environment, Minister of Finance Ahmed Kouchouk said. Speaking at a meeting of the Council of the Union of Arab Chambers of Commerce, Industry and Agriculture, Kouchouk said that the government's tax and customs facilitation initiatives are designed to build trust and foster partnership with the business community, while delivering rapid and tangible results on the ground. The Minister stressed that the Egyptian and Arab private sector has the capacity to drive a major leap in regional economies, adding that the government's role is to provide maximum support to unlock this potential. Kouchouk said Egypt is working to position itself as a regional hub for manufacturing and exports to Africa, Europe and Asia, within the framework of broader economic policies aimed at enhancing competitiveness and attracting foreign direct investment. He noted that Egypt's fiscal and economic priorities place greater emphasis on the private sector's role in investing for the future, in a way that serves both economic growth and citizens' interests. He added that intra-regional investments have increased significantly, while considerable opportunities remain for deeper trade integration. The Minister also highlighted improvements in the banking sector's net foreign assets and growth in foreign exchange reserves, reflecting increased financial stability. On public finances, Kouchouk said the debt ratio of budgetary entities to GDP declined from 96% to 86% over the past two years, with further reductions targeted this year. He added that Egypt has reduced the external debt of budgetary entities by around $2 billion, underscoring that the country is "repaying more than it is borrowing." Kouchouk pointed to strong investment momentum in the economic zones, which have attracted a wide range of companies focused on production and export. He noted that the 73% increase in private investment during the last fiscal year demonstrates the private sector's ability to lead Egypt's economic growth. He also announced that, in coordination with the Minister of Investment and Foreign Trade, a major package of customs facilitation measures will soon be unveiled to boost foreign trade and significantly reduce customs clearance times.
