Bangkok:The Minister of Foreign Affairs, International Cooperation, and Egyptian Expatriates, Badr Abdelatty, highlighted the crucial role of the partnership with the Multilateral Investment Guarantee Agency (MIGA) in enhancing investor confidence and supporting investments in strategic sectors. He emphasized that this partnership reflects growing confidence in the opportunities within the Egyptian economy and supports the state's efforts to expand private-sector involvement in driving development. This statement was made during a meeting with MIGA's Managing Director, Tsutomu Yamamoto, on the sidelines of the annual meetings of the International Monetary Fund (IMF) and the World Bank Group, attended by Minister of Planning and Economic Development Ahmed Rostom.
According to State Information Service Egypt, the foreign minister stressed that empowering the private sector is essential for achieving sustainable economic growth. He affirmed the Egyptian government's commitment to improving the business environment, making it more competitive and attractive through comprehensive reforms. These reforms include tax and customs incentives, streamlined procedures via digital transformation, and updated legislative frameworks to promote transparency and equal opportunities for investors.
The meeting also focused on strengthening the Egyptian economy's resilience to regional and international changes, considering recent developments and their economic impacts. Abdelatty discussed the government's proactive measures to secure energy supply, support food security, and maintain fiscal discipline, which are crucial for containing economic challenges, preserving stability, and enhancing the national economy's capacity for sustained growth.
Minister Rostom reiterated the Egyptian government's dedication to continuing its economic reform program, improving financial and economic resource management efficiency, and stimulating investment. Yamamoto expressed MIGA's interest in expanding cooperation to improve the investment climate further, strengthen international investor confidence, and attract investments that contribute to Egypt's economic development.