Egyptian President Sisi gives instructions to increase investment rates

CAIRO – 8 September 2024: President Abdel Fattah El Sisi gave directives to provide the necessary facilities to increase investment rates, encourage both the Egyptian and foreign private sectors, said Presidential Spokesman Ahmed Fahmy in a statement.

President Abdel Fattah El-Sisi met, on Sunday, with Prime Minister Mostafa Madbouly, and Minister of Investment and Foreign Trade Engineer Hassan El-Khatib to review the strategic axes for advancing the investment and trade sector in the coming period, in alignment with Egypt Vision 2030.

This strategy has been developed through partnership and dialogue among the various stakeholders in Egypt's investment and trade sectors. It includes a main goal of achieving significant and broad progress in investment and export files through expanded plans to attract major global investment entities to invest in Egypt across several sectors, particularly the industrial sector as the engine of the country’s economic growth.

The strategy seeks to enhance investor confidence in the Egyptian economy by relying on stable monetary and financial policies and reinforcing the commitment to the state ownership policy document, which aims to strengthen the role of the private sector in economic activities. This is in addition to providing a conducive and attractive economic environment for investments, and opening new export markets in cooperation and coordination with export councils and joint business councils.

The President gave instructions to build on the recent growth in foreign direct investment rates, and continue expanding the issuance of “Golden Licenses” to investors in key priority sectors for Egypt, including industry, green energy, transportation, information and communications technology, agriculture, and healthcare. This shall take place in a manner that fulfills the state's comprehensive development goals.