Egypt Discusses with World Bank Developing FDI Strategy 2025/30

Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, and Hassan Al-Khatib, Minister of Investment and Foreign Trade, met, Friday, with the World Bank mission headed by Stefan Gimbert, World Bank Regional Director for Sustainable Development for Egypt, Yemen and Djibouti and the accompanying delegation.

The meeting aimed at discussing the status of the development of the Foreign Direct Investment (FDI) Strategy in Egypt (2025 -2030), which is being prepared in cooperation with the World Bank Group, one of Egypt's main development partners.

At the beginning of the meeting, Al-Mashat stressed the importance of the new Foreign Direct Investment Strategy and the Industrial Development Strategy (IDTES) as one of the main strategic objectives that the Egyptian government aims to achieve in order to improve the investment environment in Egypt.

She pointed out the state's efforts to raise the efficiency of managing and monitoring public investments and setting a specific ceiling for investments with the aim of reducing inflation rates and creating more opportunities for the private sector, noting that technical cooperation with the World Bank uses this approach when developing the foreign direct investment strategy and implementing the guidelines as well. 

"The Supreme Council for Investment has developed a clear vision for FDI in Egypt and has enhanced the state's efforts to attract and encourage foreign investment in Egypt within the framework of the government program's objectives to build a competitive economy that attracts investments and major companies to benefit from the components of the Egyptian economy, with a focus on relations with partners, resulting in many reports and diagnostic studies that provide recommendations and axes that are implemented on the ground in many areas to advance development efforts."

Al-Mashat stressed that the new FDI strategy in Egypt will set an ambitious and achievable investment vision for the country and present a coherent strategy for investment growth and diversification that contributes to achieving the goals of comprehensive economic growth and economic diversification, adding that the essence of this strategy is to increase the country's investment competitiveness in order to increase the attractiveness of sustainable foreign direct investment.

On his part, Al-Khatib confirmed that the ministry is doing its utmost to create an attractive and stable investment climate, with the aim of achieving great leaps in growth in line with the aspirations of the Egyptian economy. 

The minister indicated that the preparation of the strategic investment plan will be completed during the coming period, which includes a strategy to attract FDI, with a focus on improving the business environment and simplifying procedures. 

Al-Khatib pointed out that the state enjoys an advanced infrastructure and new and developed cities, and the Egyptian market is characterized by an educated and skilled workforce.

 He pointed out that Egypt is a large consumer market and enjoys a strategic geographical location in the middle of the world's continents, which facilitates access to Europe, the Middle East, Africa and Asia. 

"Egypt also has significant resources, including renewable energy sources from solar energy and wind energy, in addition to its association with various trade agreements, such as free trade agreements with more than 70 countries, and also providing a range of investment incentives, including public and private special incentives," he concluded.