Cairo:Prime Minister Mostafa Madbouly highlighted the importance of attracting foreign direct investment (FDI) as a central aspect of Egypt's governmental program aimed at economic reform and achieving sustainable development goals, following directives from President Abdel Fattah El Sisi.
According to State Information Service Egypt, Madbouly's remarks came during a meeting about Egypt's Foreign Direct Investment Strategy for 2027-2030. The meeting was attended by Investment and Foreign Trade Minister Mohamed Farid, General Authority for Investment and Free Zones (GAFI) CEO Mohamed Awad, and other ministry officials.
Madbouly emphasized the state's ongoing efforts to create a competitive investment environment. This includes developing advanced infrastructure, offering incentives and facilitation packages, and empowering the private sector to drive growth. The strategy aims to boost local manufacturing, facilitate technology transfer, enhance production and export capacity, and strengthen the national economy's resilience.
Farid stated that the strategy was developed under the Supreme Council for Investment, led by President El Sisi. Its aim is to enhance the role and investments of the private sector and increase FDI inflows. The strategy's development involved consultations with various state institutions and agencies and dialogues with private-sector representatives through sector-specific workshops.
These workshops involved industry federations, unions, professional associations, and investment companies, as well as discussions with industry experts and participation from the World Bank and International Finance Corporation experts in Egypt.
Farid explained the strategy's main pillars, which include an assessment of Egypt's investment environment, analysis of global investment trends, and identification of priority sectors to attract capital. It sets clear targets for increasing private-sector investment and FDI through 2030. The strategy also focuses on identifying investment opportunities, implementing reforms, and digitalizing services to streamline procedures for investors.