Minister of Investment and Foreign Trade Mohamed Farid said the Egyptian government is implementing a comprehensive package of structural reforms to enhance the competitiveness of the national economy, deepen the industrial base, increase exports, and improve the business environment, as part of efforts to attract domestic and foreign investment and achieve sustainable economic growth.
The minister made the remarks during a high-level ministerial dialogue held on the sidelines of a reception hosted by the Egyptian Embassy in London as part of the "Egypt's Future: Investment Opportunities and Sustainable Economic Reform" conference. The event was attended by a large number of investors and business leaders from Egypt and the UK, as well as members of the Egyptian government delegation.
The minister said achieving the State's target of increasing Egyptian merchandise exports to dlrs 100 billion requires expanding the localization of high value-added industries and products, deepening local manufacturing, and coordinating with relevant authorities to identify priority sectors and provide the necessary resources to boost production and exports.
Farid said managing the foreign trade portfolio requires a long-term strategic vision based on thorough studies of markets and economic needs, stressing that export growth is not solely linked to industrial production, but also depends on an integrated system that includes logistics services, banking, financing and digital transformation.
He added that the government has identified numerous promising export and investment opportunities across various markets, especially in Eastern Europe, noting that efforts are underway, in coordination with relevant authorities, to address operational challenges related to banking services and fund transfers to support business activities and investors.
The minister also said the Ministry of Investment and Foreign Trade is focused on removing procedural obstacles facing the business community and is currently reviewing and simplifying a number of procedures related to company establishment, capital increases and share issuance.
Farid pointed out that the involvement of multiple entities in some transactions can prolong processing times, an issue that the government is addressing through electronic integration and the modernization of institutional workflows. He also revealed plans to launch a unified central platform for investment opportunities and land allocation, enabling investors to access a wide range of available opportunities through a single portal.
The minister further said the ultimate objective of the reform process is to establish an advanced investment environment in which investors do not need to communicate directly with ministers or government officials to resolve problems. Farid also said investment reform is a continuous, cumulative process that requires the ongoing development of procedures and legislation, adding that the results of these efforts are gradually reflected in an improved business environment, increased investor confidence, higher investment rates, a stronger role for the private sector, and more sustainable economic growth.
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