Cairo: Egypt will launch a unified online licensing platform next month, offering 389 services to investors as part of a broader push to streamline bureaucracy and drive private-sector growth, Investment and Foreign Trade Minister Hassan El-Khatib said Monday. Speaking at an American Chamber of Commerce conference in Cairo, Minister El-Khatib stated that the digital platform aims to simplify regulatory processes, enhance transparency, and reduce friction for local and foreign investors. The move is part of Egypt's efforts to double its GDP and raise exports to $145 billion annually by 2030.

According to State Information Service Egypt, the government is accelerating economic reforms across monetary, fiscal, and trade policy to attract capital and boost production. These reforms include adopting a more flexible monetary framework to contain inflation, efforts to lighten the regulatory burden on investors, and plans to cut customs clearance times from 14 days to just two.

Amid growing global protectionism, Minister El-Khatib emphasized that Egypt remains committed to open trade policies that align with World Trade Organisation rules while also protecting local industries from harmful practices. The country aims to increase the value of exports as a share of GDP from 10 percent to as much as 30 percent.

As part of its divestment strategy, Egypt is advancing its State Ownership Policy to reduce the government's direct role in economic activity. The Sovereign Fund of Egypt (TSFE) will manage state assets with the long-term goal of building generational wealth, Minister El-Khatib noted.

Exporters will also gain from a revamped subsidy program starting in fiscal year 2024/25. Back payments for export support will be made within 90 days of shipment documentation, while a new, higher-budget rebate scheme will prioritize high value-added industries.