CAIRO – 21 November 2024: Minister of Investment and Foreign Trade, Hassan El-Khatib, announced during a press conference that he has engaged with approximately 350 investors in recent months to understand the challenges they face and explore new opportunities in the investment sector.
He reaffirmed the government’s dedication to addressing these issues and finding solutions through the economic group.
El-Khatib unveiled the revamped Export Burden Rebate Program, which is designed to reimburse exporters within 90 days and settle overdue payments from the past two years.
The minister also highlighted plans to update the investment map and enhance the promotion of investment opportunities abroad through Egypt’s network of 43 commercial representation offices.
He noted that the new export rebate program will be tailored to the specific needs of each export sector, and the condition requiring exporters to surrender 50% of their dollar revenues will not be uniformly applied across all industries.
El-Khatib praised Saudi Arabia as Egypt’s largest historical investor, with investments amounting to $25 billion.
He also reported significant progress in resolving investor disputes, stating that 75-80% of longstanding issues, some exceeding two decades, have been successfully addressed.
Additionally, the minister announced plans to expand the Golden License initiative, aiming to simplify and streamline the licensing process for all investors.
His ultimate goal is to create a business-friendly environment where licensing is as efficient and straightforward as the Golden License, further encouraging investment and economic growth.
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