Egypt unveils new financial reform strategy to boost investments and trade

Egypt has introduced a strategy to enhance its business environment, aiming to attract local and foreign investments while strengthening trade.

This vision was outlined by Hassan El Khatib, Minister of Investment and Foreign Trade, during a parliamentary session, as reported by Daily News Egypt, a partner of TV BRICS.

The new approach reflects the government’s commitment to fostering a business-friendly climate by integrating investment and foreign trade into a unified ministry.

The Minister highlighted plans to simplify procedures, ensure transparency, and provide institutional and legislative support to empower the private sector as a key development partner.

El Khatib emphasised the need to expand exports, optimise trade policies, and promote value-added industries to bolster Egypt’s global competitiveness. He acknowledged the challenges posed by global economic shifts, reaffirming the government’s resolve to position Egypt as a regional and international hub for trade and investment.

Key initiatives include a two-phase financial reform plan, reducing customs clearance times to two days by 2025, and addressing logistical barriers to streamline trade processes. These efforts aim to improve Egypt’s standing in global trade indices, attract foreign direct investment (FDI), and create a stable economic framework.

Strategic participation in free trade agreements further enhances the nation’s appeal to investors, the source claims. The government’s focus on strengthening public-private partnerships is expected to drive innovation, job creation, and sustainable economic growth.

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