President Abdel Fattah El-Sisi held a meeting with several ministers to discuss strengthening the competitiveness of the Egyptian economy and increasing foreign investments. Ambassador Mohamed El-Shennawy stated that the meeting addressed steps for implementing a national investment strategy that includes structural reforms, setting clear objectives, and applying incentivizing fiscal and trade policies. The discussions also included efforts to ease burdens on investors by simplifying procedures and facilitating licensing through a unified platform.
The recent meeting also reviewed the progress of the Sovereign Fund of Egypt for Investment and Development, with a focus on the operational and legislative framework to maximize the value of the fund’s affiliated companies. Efforts to catalog state-owned enterprises to increase their investment value were also discussed.
The President directed the need to enhance returns from state assets through innovative strategies and partnerships with the private sector. In addition, efforts to boost Egyptian exports were reviewed, including the development of non-oil exports and export targets, with emphasis on improving the competitiveness of Egyptian products in global markets and investing in export-supporting infrastructure.
The meeting also covered the latest developments in the project to establish a dry bulk terminal at Abu Qir Port, as part of Egypt’s plans to transform into a global hub for transport and logistics. A feasibility study for establishing a logistics station to receive raw iron and billets was also presented. The official spokesperson briefed President El-Sisi on efforts to improve and restructure economic authorities, alongside the national program for structural reforms and cooperation with the European Union. Furthermore, the national narrative for economic development was discussed, focusing on supporting the private sector, boosting manufacturing and exports to achieve growth and economic stability.