Cairo: Prime Minister Mostafa Madbouli announced that an international report highlighted Egypt's significant advancement in attracting foreign direct investments (FDIs), ranking 9th globally in 2024, a leap from its previous position of 35th.

According to State Information Service Egypt, this development represents a strategic shift for the nation. The prime minister underscored the government's commitment to enhancing the investment landscape by expediting licensing processes and providing additional facilities to support both foreign and local investors. This initiative is part of a broader effort to cultivate a conducive environment for investments.

Madbouli also addressed the economic stability of Egypt, assuring citizens that the country's foreign currency resources in May were sufficient to match state expenditures for the fourth consecutive month. He further noted Egypt's ability to meet its financial needs independently, without relying on short-term speculative capital, as local resources adequately cover the nation's consumption and requirements.