Egypt and International Leaders Discuss Investment Opportunities and Sustainable Growth

CAIRO - 22 September 2024: Engineer Hassan El-Khatib, Minister of Investment and Foreign Trade, participated in a high-level roundtable meeting with key Egyptian and international officials to discuss crucial economic and investment topics.

The meeting was attended by Ahmed Kouchouk, Minister of Finance, Rami Abu El Naga, Deputy Governor of the Central Bank, and Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority, along with senior executives from Goldman Sachs and representatives from major global financial and development institutions.

Key discussion points included global financial challenges and their impacts on emerging markets, with a particular focus on investment opportunities in Egypt. The meeting highlighted promising areas for attracting foreign direct investment, especially in sustainable finance and renewable energy, two pillars of Egypt's strategy for sustainable economic development. The government’s efforts to advance these critical sectors were also emphasized.

Minister El-Khatib underscored the importance of international cooperation to address global economic challenges and create a conducive environment for foreign capital in Egypt. He highlighted Egypt's significant opportunities in infrastructure and renewable energy sectors, noting that the country has invested $300 billion in infrastructure over the past decade and aims for economic growth of 6-7%.

He further emphasized the vital role of public-private partnerships in driving sustainable development, calling for improved transparency and clearer economic policies to attract more investment. Egypt's capacity to develop 100 gigawatts of clean energy positions it as a future regional energy hub, the minister noted.

The meeting is part of the Egyptian government’s efforts to open new avenues for investment and support international investors entering the Egyptian market. It also reaffirmed the need to strengthen public-private partnerships to achieve sustainable economic growth and align with global economic trends.

The event began with welcome remarks from Hani Kablawi, Chairman of BNY Mellon, Ambassador Sherif Kamel, Egypt's Ambassador to the UK, Khaled Nosseir, Chairman of the British Egyptian Business Association (BEBA), and Gareth Bayley, the British Ambassador to Egypt. The meeting was also attended by Yahya El Wathik Bellah, Head of Egypt’s Commercial Representation, and Tamer Mostafa, Head of the Commercial Office in London.