Cairo: Prime Minister Mostafa Madbouly announced that Egypt's exports rose by 19% during the first ten months of 2025 compared with the same period last year. In addition, the country's trade deficit fell by more than 16%, indicating progress in economic growth and industrial production.
According to State Information Service Egypt, Madbouly spoke at a weekly press conference following a Cabinet meeting in the New Administrative Capital. He emphasized the role of strong domestic manufacturing and controlled import growth in driving these positive trends.
Madbouly reviewed Egypt's recent diplomatic and economic engagements, mentioning the visit of President Lee Jae-myung of South Korea. This visit marked 30 years of bilateral relations between the two countries, with discussions focusing on expanding Korean investment in sectors such as consumer electronics, mobile phones, shipbuilding, and mass transportation. Additionally, strategies to boost trade between Egypt and Korea were discussed.
On the international front, Madbouly represented President Abdel Fattah El Sisi at the G20 Summit in Johannesburg, South Africa and the seventh African Union-European Union summit in Angola. Discussions at these summits centered on global economic and geopolitical challenges, international trade, and Africa's development potential, particularly highlighting the importance of infrastructure and investment for continental growth.
Madbouly shared positive impressions of Egypt from world leaders, who appreciated Cairo's role in facilitating Gaza ceasefire efforts. They also congratulated Egypt on the inauguration of the Grand Egyptian Museum and recognized the country's urban development and economic transformation over the past decade.
Furthermore, Madbouly discussed strengthened relations with China and Algeria. A visit by the Chinese National People's Congress vice chairman focused on expanding investments in Egypt's TEDA region. Meanwhile, the ninth session of the Egypt-Algeria Joint High Committee resulted in multiple agreements and plans for regular progress reviews.
On the economic front, Madbouly highlighted a meeting between President Sisi and Eni CEO, with the Italian energy firm committing $8 billion in new investments in Egypt over the next three years, including further drilling at the Zohr gas field. He also noted the revival of the state-owned Nasr Automotive Company, which has returned to profitability.
In human capital development, Egypt and Italy signed agreements to establish 89 new applied technology schools with Italian accreditation, allowing graduates to work across Europe. Madbouly stressed the importance of the private sector in managing these schools.
Regarding healthcare, Madbouly reported the completion of the first phase of the national health insurance system and the rollout of the second phase, covering 18 million Egyptians and potentially expanding to Alexandria. This initiative is linked to the 'Decent Life' program for rural development, aiming to provide comprehensive medical services nationwide, though further progress is still needed.