Egypt's Prime Minister Mostafa Madbouly recently reviewed the main pillars of the country's foreign direct investment (FDI) strategy for 2027-2030. The meeting was attended by senior investment officials, including Mohamed Farid, Minister of Investment and Foreign Trade, and Mohamed Awad, CEO of the General Authority for Investment and Free Zones (GAFI). Madbouly emphasized that attracting FDI is a key pillar of the government's programme and an essential component of its economic reform and sustainable development efforts.
The strategy aims to support industrial localisation, technology transfer, higher production and export capacity, and greater resilience of the Egyptian economy. Madbouly stated that Egypt is working to strengthen a competitive and attractive investment environment based on developed infrastructure, incentives and facilitation measures, and greater private-sector participation as a key driver of economic growth. This approach is expected to drive economic growth and development in the country.
The FDI strategy was prepared in line with directives from the Supreme Council for Investment, chaired by President Abdel Fattah El-Sisi. The council's goal is to strengthen the role and investments of the private sector and attract additional FDI flows. Farid stated that the strategy was developed through a participatory approach involving consultations with government institutions and agencies, as well as direct discussions with private-sector representatives.
The consultations included industry federations, professional associations, business organisations, investment companies, and other private-sector stakeholders, alongside specialised interviews with industry experts. The process also drew on sector specialists and experts from the World Bank and the International Finance Corporation (IFC) in Egypt. This collaborative approach ensured that the strategy is comprehensive and effective.
The FDI strategy's main pillars include an assessment of Egypt's investment environment, an analysis of global investment trends and promising sectors, and the identification of priority sectors for investment promotion and capital attraction. The strategy also sets clear targets for increasing private-sector investment and FDI flows through 2030. This will help Egypt achieve its economic goals and become a more attractive destination for investors.
The strategy includes a more targeted approach to identifying and promoting investment opportunities, implementing proposed reforms, and fully digitising services provided to investors to streamline procedures and reduce the time and effort required to complete them. This will improve the business environment and make it easier for investors to operate in Egypt.
The implementation of the FDI strategy is expected to have a positive impact on Egypt's economy. The government aims to increase private-sector investment and FDI flows, which will drive economic growth and development. The strategy's success will depend on effective implementation and collaboration between government agencies and private-sector stakeholders.
Key points
- The strategy aims to support industrial localisation, technology transfer, and higher production and export capacity.
- The FDI strategy was developed through a participatory approach involving consultations with government institutions and agencies, as well as direct discussions with private-sector representatives.
- The strategy sets clear targets for increasing private-sector investment and FDI flows through 2030.
