Minister of Investment and Foreign Trade Mohamed Farid met on Saturday with officials from TheCityUK, the industry body representing the United Kingdom’s financial and related professional services sector. The two sides discussed ways to strengthen co-operation and benefit from British expertise in developing Egypt’s financial and professional services framework.
The discussions focused on enhancing Egypt’s regulatory and legislative environment for financial and professional services, as well as supporting efforts to attract international financial institutions and boost the country’s competitiveness as a regional financial hub.
Farid said improving the competitiveness of Egypt’s financial and professional services sector is a key component of the government’s broader strategy to enhance the business climate and attract investment.
“The UK model in financial and professional services offers valuable lessons that can support the development of the Egyptian market,” he said, noting that Egypt is working to enhance its financial services ecosystem and attract leading international institutions.
For their part, TheCityUK representatives outlined the organisation’s role in representing the UK’s financial and professional services industry, including banks, asset managers, insurance companies, law firms, and accountancy and auditing firms.
The meeting also explored opportunities for future co-operation, including knowledge-sharing initiatives, co-ordination with relevant British institutions, and the adoption of international best practices in developing financial and professional services related to business and commercial law.
The two sides reaffirmed their commitment to maintaining close communication and advancing technical and institutional co-operation in support of Egypt’s efforts to modernise its business environment and enhance the attractiveness of its financial and professional services sector.
