Minister of Investment and Foreign Trade Dr. Mohamed Farid Saleh, during his official visit to the British capital, London, participated in the main session on “Digital Egypt: Infrastructure, Innovation, and Investment Opportunities,” as part of the ministerial mission organized by the Egyptian British Business Association (BEBA), with the participation of several leaders from the technology, investment, and financial services sectors.
The session was attended by CEO of Vodafone Egypt and Regional Head of International Markets at Vodafone Group Mohamed Abdallah, and CEO and Vice Chairman of HSBC Egypt Todd Wilcox and moderated by Vice Chairman of the Egyptian British Business Council Ian Gray.
The Minister emphasized that digital transformation is a key pillar of the Egyptian government's vision to enhance economic competitiveness and improve the investment climate. Mohamed Farid Saleh noted that the government views digitalization as a tool for redesigning government services and procedures and increasing the efficiency of services provided to investors and companies.
Farid Saleh explained that the success of any economic or investment reform is now linked to leveraging technology and digital transformation. The minister Mohamed Farid Saleh pointed out that the Ministry is currently working on digitizing the investor lifecycle, from company establishment and licensing to operation and expansion.
The Minister Saleh pointed out that the rapid developments in the digital economy are opening new opportunities for Egypt to attract investments in technology, digital services, and data centers, leveraging its geographic location, telecommunications infrastructure, and qualified human resources.
Farid Saleh also reviewed the government's efforts in developing digital government services and electronically linking various entities, thereby reducing administrative burdens on investors and minimizing the duplication of documents and procedures. Mohamed Farid Saleh explained that the Ministry is currently working on a comprehensive project to re-engineer and digitize business start-up and operating licenses in coordination with relevant government agencies.
Mohamed Farid Saleh affirmed that the state is adopting an approach based on utilizing technology and artificial intelligence to develop government services, improve the efficiency of foreign trade, and increase exports. Saleh noted the work being done to make data available and develop sandboxes that enable startups and entrepreneurs to create new digital solutions for trade, logistics, and export.
The Minister stressed the importance of partnership between the government and the private sector in leading the digital transformation, emphasizing that the government's role is to provide the appropriate regulatory environment and infrastructure, while the private sector leads the innovation, investment, and technological development processes.