Egyptian measures to attract foreign investment

The Egyptian government is finally intensifying its efforts with the aim of revitalizing and returning foreign investments to the market, after the measures it recently took regarding saving dollars in banks and adopting a flexible exchange rate.

In view of the global and local economic challenges that the world is currently going through, we also find challenges in attracting more foreign investments, but the opportunity is great in Egypt, especially with the government's plan for structural reform of the Egyptian economy, as well as the state ownership policy document.

Dr. Mohamed Maait, Minister of Finance, said that Egypt has become more attractive to foreign investments.

ownership policy document and the golden licence

  He added that Egypt has promising and attractive opportunities, a developed infrastructure capable of meeting the needs of investment and production activities, a legislative environment, and tax and customs incentives.

He referred to the government's stimulus efforts to empower the private sector, including the state ownership policy document and the golden licence.

Maait added that the Ministry of Finance is looking forward to increasing the investments of Korean companies, in a way that maximizes Egyptian production and export capabilities, and strengthens the partnership between the two countries.

Korean corporate investments

The investments of Korean companies are a pioneering model in the electronics industry in the Egyptian market, and they play a pivotal role in deepening the national industry, increasing the proportions of the technological component in the industry, and providing new job opportunities.

Importance of the new program to support exports

The minister added that the new program to support exports is more stimulating for the productive and export sectors.

He added that EGP 28.1 billion has been allocated in the new budget to support exporting companies, with the government intending, starting from the next fiscal year, to disburse “export support” in the same year of export. In a way that helps provide the necessary cash liquidity to encourage production.

The minister indicated that a memorandum of understanding will be signed between the Egyptian and South Korean customs authorities at the end of this month, to enhance customs cooperation and facilitate trade movement.

Korean companies

South Korean Ambassador to Cairo, Hong Jin Wook, said that Korean companies are interested in investing in Egypt, pointing out that the investments of existing companies in Egypt are a successful model for attracting more Korean investors and companies to the Egyptian market.

 He also expressed his appreciation for the efforts of the Ministry of Finance in encouraging investment and promoting trade traffic.

Memorandum of understanding

Dr. Mohamed Maait, Minister of Finance, had said that a memorandum of understanding would be signed between the Egyptian and South Korean customs authorities at the end of this month. To enhance customs cooperation and facilitate trade movement