President Abdel Fattah al-Sisi directed efforts to continue improving the investment climate and addressing structural challenges affecting the Egyptian economy.
Meeting with Prime Minister Mostafa Madbouly and Minister of Investment and Foreign Trade Hassan al-Khatib Saturday 23/11/2024, Sisi emphasized reducing non-tax procedural and financial burdens to enhance Egypt’s position as a regional hub for attracting foreign direct investment, aligning with national priorities.
The President also called for opening new markets for Egyptian exports, increasing the local content in all exports, and positioning Egypt as a hub for global and regional supply chains, Presidential Spokesperson Mohamed al-Shenawy said in a statement following the meeting.
The meeting addressed key topics, including the development of the foreign trade system by streamlining procedures, reducing costs, and minimizing customs clearance times.
Discussions also covered localizing industries, protecting domestic industries through trade tools aligned with World Trade Organization standards, and maximizing the benefits of the commercial representation offices and system.
The meeting also reviewed the financial non-tax burdens on investors, with a focus on unifying the entities involved and simplifying fee collection.
Additionally, the status of investments and projects under Egypt’s Sovereign Fund was discussed, highlighting efforts to attract more investments, optimize the management of assets, and expand the fund’s role across various sectors.
