Investment Minister: Economic reforms have enhanced Egypt's competitiveness and attractiveness to foreign investment
Cairo. Nadeh Imad
As part of the state’s commitment to strengthening economic ties with the United States of America, Dr. Mohamed Farid, Minister of Investment and Foreign Trade, held a meeting with Steven Hines, Assistant Secretary of Commerce for Industry and Analysis, attended by Ambassador Khaled Azmy, Assistant Minister of Foreign Affairs for Egyptian Expatriates and the Americas, and Robert Silverman, Chargé d’Affaires of the U.S. Embassy in Cairo, along with the accompanying delegation, to discuss ways to expand economic, investment, and trade cooperation between the two countries.
He emphasized that the United States is a strategic economic and investment partner for Egypt, noting that the Egyptian government continues to implement a comprehensive economic reform program aimed at improving the investment climate. This contributes to building a more efficient and stable business environment, enhances investor confidence, and supports increased U.S. investments in the Egyptian market.
Farid clarified that the Egyptian economy is characterized by diversity across promising sectors, including industry, tourism, and information and communications technology, alongside other sectors capable of attracting further domestic and foreign investments.
He outlined Egypt’s investment frameworks, which include investment zones, free zones, and industrial zones, along with incentives provided under the law. He stressed the importance of the Qualified Industrial Zones (QIZ) scheme as a key preferential mechanism to support Egyptian exports to the U.S. market, enhance the competitiveness of Egyptian products, and attract more export-oriented industrial investments.
Farid pointed to the state’s direction toward developing investment clusters as an integrated model that serves as a mechanism to motivate and encourage investors by providing fully serviced units that support investors in establishment, operation, and expansion, thereby meeting local market needs and contributing to increased exports.
He highlighted the expansion in the creation and development of investment zones, the implementation of infrastructure projects, road networks, utilities, and logistics services, as well as the Financial and Business District in the New Administrative Capital, which represents one of the most important strategic projects aimed at transforming Egypt into a regional hub for business and financial services.
The Minister of Investment also discussed efforts to develop the foreign direct investment data system by establishing an accurate and comprehensive database in coordination with the General Authority for Investment and Free Zones and relevant authorities, to enhance the reliability of economic data and support decision-makers.
Farid also reviewed the state’s efforts to support the entrepreneurship and startup ecosystem, and to strengthen the role of the private sector as the main driver of economic growth.
