Egypt’s Ministry of Investment and Foreign Trade has held an expanded ministerial meeting to review implementation plans for the country’s Foreign Direct Investment (FDI) Strategy, with the participation of several cabinet ministers and a high-level delegation from the World Bank.
The meeting was attended by Minister of Investment and Foreign Trade, Mohamed Farid Saleh, Minister of Industry, Khaled Hashem, Minister of Finance, Ahmed Kouchouk, Minister of Planning and Economic Development, Ahmed Rustum, , Minister of Labour, Hassan Raddad, Minister of Tourism and Antiquities, Sherif Fathy.
The coming phase will focus on turning the strategy into practical action by identifying priority sectors and establishing clear monitoring and evaluation mechanisms, Minister Farid told the meeting.
The government is continuing to work with the World Bank to finalise an implementation document that can be effectively applied, he added.
For their part, the WB delegation presented the main features of the plan, which is based on economic data analysis, global value chain studies, and identifying sectors with strong investment potential that align with Egypt’s development goals. Discussions with the Egyptian government will continue before the final list of target sectors is approved.
Minister of Industry Khaled Hashem stressed the importance of aligning industrial and investment policies and directing investments toward productive and high-value technology sectors. He noted that these efforts support Egypt’s goal of increasing industrial exports to $100 billion by 2030.
Finance Minister Ahmed Kouchouk highlighted the need to improve the quality of economic data, strengthen financial disclosure systems, and enhance data collection mechanisms to support more accurate investment indicators and better decision-making.
Meanwhile, Planning and Economic Development Minister Ahmed Rostom called for improving data collection and analysis systems and integrating risk management into the strategy to support the most competitive and resilient sectors.
Labour Minister Hassan Raddad emphasised linking the investment strategy with the national employment strategy, which aims to create 1.4 million jobs annually until 2030 by developing youth skills and encouraging investment in labour-intensive sectors. Tourism and Antiquities Minister Sherif Fathy also stressed the importance of strengthening data systems and expanding hotel capacity to help Egypt achieve its goal of attracting 30 million tourists annually by 2030.
The participants agreed on the need for stronger coordination among government entities to turn the FDI strategy into an effective implementation plan that will boost investment inflows and improve the competitiveness of the Egyptian economy.
