Facilitations and legislative reforms... Great Egyptian efforts to attract investments

All economies worldwide have been affected by wars and epidemics, during the past few years, which affected the economic identity of countries.

Therefore, the Egyptian state has developed various plans and strategies to support various investments in Egypt, through 6 sectors, most notably the energy sector and renewable energy, specifically investment in green hydrogen, where 23 memorandums of understanding were signed.

Investment plans

The investment plans include "the health sectors and the pharmaceutical industry", as the state aims to double the size of the industry in relation to the national product.

  There are different strategies that have been put in place, most notably the automobile industry strategy through the Supreme Council for the Automotive Industry, and there is a support fund for this sector.

Also, the spinning and weaving industries and the electrical appliances industries. There are international companies in regional centers in Egypt, and international centers, and some of them have reached the local components for more than 70%.

The state focuses on important and necessary small, medium and micro projects, especially since half of the US economy is based on them, which amounts to 40%, and therefore it must be the focus of attention and huge facilities.

The state focuses on attracting investment in a number of priority sectors, including those that involve technology transfer and localization in activities such as health, education, payments, and transportation.

The Egyptian constitution spoke about the basic elements of Egyptian society in Article 27 and identified them with objectives, which included targeting:

• sustainable development

• Raise the standard of living

• Poverty eradication

• Raise work rates

• Reliance on economic, service and information activities

state efforts

The state has made great efforts over the past years to support investment, in exceptional circumstances aimed at promoting economic growth, providing job opportunities, and broadcasting a message of reassurance to the local and foreign investor in the capabilities of the Egyptian state. The state's efforts are represented in:

• Create multiple projects

• Expansion of infrastructure rehabilitation

• Create new cities

• Interest in developing airports and ports

Private sector support

The state has taken measures to stimulate the private sector, the most important of which are:

• Launching the state ownership policy document to reassure the investor about the sectors that are available for investment and the state begins to exit from them, and it includes 32 companies in various sectors.

• It also established Egypt's Sovereign Fund as one of the mechanisms to strengthen partnership with the local and foreign private sector.

• The Supreme Investment Council, headed by President El-Sisi, was established to overcome any obstacles facing investors.

• Taking more than 22 measures to facilitate investment for the private sector.