Investment Minister: Only 50 companies account for 45% of Egypt's exports, and this is a reality we will change
Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, launched the “Egypt Launches for Export” initiative at Tanta University in the Gharbia Governorate. The launch took place during a major event held under the patronage of Prime Minister Dr. Mustafa Madbouly, with broad participation from representatives of government entities, agencies affiliated with the ministry, and the business, industrial, and commercial communities.
Farid emphasized that the state has succeeded in achieving growing export rates, but noted that the real challenge lies in expanding the base of exporting companies. He pointed out that only 50 companies account for approximately 45% of total Egyptian exports, a reality the ministry is working to change by reaching out to companies across various governorates and preparing them to access foreign markets.
He clarified that only 730 companies have benefited so far from the services of the Export Development System. The ministry aims to reach thousands of companies in all governorates, informing them of the services, programs, and incentives offered by its affiliated agencies, thereby contributing to an increase in the number of exporters and enhancing the competitiveness of Egyptian products.
Farid added that the “Egypt Launches for Export” initiative represents a new approach in the work of the Ministry of Investment and Foreign Trade, focusing on bringing government services directly to companies within governorates and industrial clusters, rather than waiting for companies to approach government entities. He stressed that increasing exports is no longer the responsibility of a single entity, but has become a national partnership involving the government, the private sector, governorates, universities, and all supporting bodies.
Farid noted that the ministry adopts the principle of “Your Right to Know” to inform the business community about the services provided by the Export Development Authority, the Export Development Fund, the General Authority for Investment and Free Zones, the General Authority for Exhibitions and Conferences, and the Commercial Representation Agency. He explained that the initiative includes specialized workshops that practically demonstrate all the services and programs supporting companies on their journey toward exporting.
The Minister of Investment clarified that the value of exports from Gharbia Governorate reached approximately $2.1 billion over the past five years. He affirmed that the governorate possesses a strong industrial and productive base that qualifies it to increase its contribution to exports, and that the ministry looks forward to fostering positive competition among governorates to improve their standing on the Egyptian export map.
He also announced that the ministry is considering launching competitions and awards for companies that have made the most progress in increasing their exports, aiming to encourage competition and motivate companies to expand into foreign markets.
For his part, Dr. Mohamed Hussein, President of Tanta University, affirmed that small, medium, and micro-enterprises represent one of the main drivers of economic growth. He noted that they contribute to expanding the productive base, deepening local manufacturing, and increasing the added value of Egyptian products, in addition to their role in providing employment opportunities and boosting export rates. He pointed out that Tanta University plays a pivotal role in supporting the innovation and entrepreneurship ecosystem through innovation centers, business incubators, and vocational training and qualification programs. These efforts contribute to preparing cadres capable of transforming research ideas into productive projects and startups that support the national economy and align with the objectives of “Egypt Vision 2030.”
