Minister of Foreign Affairs, International Cooperation and Egyptian Expatriates Badr Abdelatty called for establishing an Egyptian investment body to coordinate the country's investments across Africa, as Cairo seeks to expand the presence of Egyptian companies on the continent.
Abdelatty made the remarks during a meeting with Minister of Investment and Foreign Trade Mohamed Farid, where the two ministers discussed efforts to attract foreign direct investment and support Egyptian companies operating in African markets. The proposed entity would bring together government institutions, the banking sector, and private companies to coordinate investment activities.
Abdelatty also called for the creation of a comprehensive database of priority investment opportunities and projects across Africa to help Egyptian firms identify and pursue opportunities more effectively. He said the Foreign Ministry would continue working with African governments and institutions to help Egyptian companies overcome regulatory and administrative obstacles and improve their access to African markets.
Abdelatty also outlined Egypt's initiatives to support development in African countries, including a financing mechanism for feasibility studies and implementation of development and infrastructure projects, as well as the establishment of the Export Credit Guarantee Company of Egypt to provide risk-mitigation guarantees for Egyptian companies investing in Africa.
He said closer cooperation between the government and the private sector was essential to strengthening Egypt's economic presence on the continent in line with the country's Vision 2030 development strategy. For his part, Investment Minister Farid said the private sector was a key pillar for strengthening Egypt's economic ties with African countries, increasing trade, attracting joint investments, and deepening commercial and investment partnerships.
He said Egyptian companies had built a strong reputation for delivering major development projects across African markets and that the government would seek to build on that record through new mechanisms focused on priority sectors. Farid added that the Ministry of Investment and Foreign Trade was working through its affiliated agencies to deepen trade and investment integration with African countries by leveraging existing trade agreements that provide preferential market access for Egyptian exports, while offering support to help Egyptian companies expand their operations across the continent.
The Inauguration of the State Strategic Command Headquarters “The Octagon” in the New Capital President Sisi inaugurates 'Octagon' Strategic Command headquarters in New Capital