Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, participated in the session "The National Program for Economic Transformation" during the Egypt 2026 Forum, in the presence of Dr. Moustafa Madbouly, Prime Minister, to review the Ministry's vision and executive plans to enhance investment and boost exports, emphasizing that the upcoming phase is built upon facilitating business procedures, empowering the private sector, accelerating digital transformation, and enhancing the Egyptian economy's ability to attract domestic and foreign investments.
Greater Ambition to Attract Foreign Investment and Empower the Private Sector
The Minister affirmed that Egypt has led Africa in attracting Foreign Direct Investment (FDI) over the past ten years, stressing that the ambition extends beyond maintaining this status to increasing investment inflows and expanding private sector participation in economic activity.
He explained that achieving these targets requires full commitment to implementing institutional and procedural reforms, creating a more competitive business environment that enables investors to expand, produce, and export, alongside simplifying procedures and reducing the time required to obtain licenses and approvals.
A Digital Platform to Streamline Procedures
Dr. Mohamed Farid noted that work is underway to launch the Economic Entities Platform to re-engineer governmental licensing and approval procedures by interconnecting 90 government entities and covering 468 economic activities, contributing to simplifying procedures and accelerating the commencement of investment activities.
He explained that the platform aims to provide investors with a clear vision regarding required procedures and expected timeframes, while reducing red tape and paper-based transactions, thereby boosting confidence in the business environment and assisting investors in planning and expansion.
The Minister emphasized that the Ministry is racing against time alongside investors to enable them to focus on production and export, in parallel with digitizing investment and foreign trade services and developing mechanisms for delivering government services.
Easier Services for Investors.. and Multilingual Digital Care
The Minister highlighted the launch of the Investor Care System and the Multilingual Smart Assistant, contributing to improving communication with investors, facilitating their access to information and services, and enhancing the speed of response to their inquiries and complaints.
He added that the Ministry is close to launching the Capital Increase Platform, which aims to connect relevant authorities and streamline procedures related to corporate capital increases, supporting expansion plans and enhancing the efficiency of services provided to the business community.
He also pointed to ongoing efforts to digitize foreign trade services, develop tools for promoting exhibitions, conferences, and export development programs, and address the limited participation of the public business sector in such events, thereby expanding promotion opportunities for Egyptian products and opening new markets for companies.
9 New Investment Zones.. Job Opportunities for Local Governorates
Dr. Mohamed Farid stressed the importance of expanding the establishment of investment zones across the Republic's governorates, considering them a crucial tool for employment and creating job opportunities for local residents, as well as their role in localizing economic development and expanding the base of productive activity.
He explained that the Ministry aims to launch 9 new investment zones, prioritizing lower-income regions with the greatest need for job opportunities, enhancing local communities' benefit from new investments and supporting balanced development.
He noted that investment zones contribute to facilitating necessary approvals for economic activities, helping investors overcome procedural challenges in parallel with completing the development of integrated digital systems.
Upcoming Launch of Strategy to Attract and Stimulate FDI in Cooperation with the World Bank
He affirmed that the strategy to attract and stimulate foreign investment aims to identify attractive, ready, and priority sectors for promotion, accompanied by actionable global and local promotional plans. The strategy aims to direct promotional efforts toward sectors with promising investment opportunities, while simultaneously addressing challenges hindering growth in other sectors, thereby boosting foreign investment inflows and supporting production and exports.
Legislative Amendments to Facilitate Company Incorporation and Expansion
Dr. Mohamed Farid pointed out ongoing work to introduce legislative amendments to the Executive Regulations of the Companies Law, aiming to ease the business environment, enhance its attractiveness to investors, and resolve procedural challenges faced by companies during incorporation and expansion phases.
He explained that developing legislative and procedural frameworks constitutes a key pillar in driving investment growth, providing more flexible tools for corporate expansion, and attracting financing, in alignment with the needs of the business community and international best practices.
"Egypt Sets Off by Exporting".. Opening Global Markets for Egyptian Companies
The Minister highlighted that the "Egypt Sets Off by Exporting" initiative aims to integrate Egyptian companies into global markets, broaden the exporter base, and familiarize businesses with services provided by the Ministry's affiliates and other relevant authorities, facilitating their utilization of export support and external promotion programs.
He stressed the importance of diversifying export markets and enhancing companies' ability to navigate global challenges, including geopolitical tensions, trade wars, and rising shipping and insurance costs, explaining that expanding into new markets requires developing export services and information and making them accessible to companies across various governorates.
Regulatory Sandbox for Foreign Trade Technology.. Supporting Innovation
Dr. Mohamed Farid explained the significance of developing technological solutions in foreign trade through the Regulatory Sandbox for Foreign Trade Technology, supporting the testing and development of innovative solutions that simplify procedures and enhance the efficiency of services provided to exporters and investors.
He emphasized that leveraging technology and artificial intelligence in governmental and commercial services helps reduce administrative burdens, improve service quality, and promote governance and equal opportunities among companies.
Exporting Services.. New Opportunities to Boost Foreign Currency Resources
The Minister noted the Ministry's drive to promote service exports as a vital avenue for diversifying exports and increasing foreign exchange resources through developing institutional frameworks supporting service sectors, including technology, medical tourism, and other high-value-added activities for the Egyptian economy.
Dr. Mohamed Farid concluded by emphasizing that achieving investment and foreign trade targets requires continuous institutional coordination among ministries and relevant entities, alongside accelerating the pace of procedural and legislative reforms to enhance the competitiveness of the Egyptian economy, increase investments, generate job opportunities, and support export growth amidst global economic challenges.
