Egypt will soon unveil a foreign direct investment (FDI) strategy developed with the World Bank that focuses on 16 priority sectors, Minister of Investment and Foreign Trade Mohamed Farid said.
What happened
Farid announced the plan to a gathering of 57 journalists from 27 international and Arab outlets. The strategy shifts from broad promotion to direct targeting of investors and aims to move from “strategy to implementation” by streamlining business procedures.
Why it matters
The ministry says the new approach will boost the competitiveness of the Egyptian economy and increase private‑sector participation. It is linked to recent macro‑economic gains, with GDP growth rising to 5.1% from 4.4% and official targets of 5.5%‑6%.
Background
The investment ecosystem will be built on four pillars: facilitating business practice, localising development while supporting SMEs, targeted promotion of opportunities, and risk mitigation with capital mobilisation. Under the latter, the Sovereign Fund of Egypt may take minority stakes of 10%‑20% in priority projects, and a dedicated industrial investment fund is being set up.