How does Egypt attract Arab and foreign investors?

Bandar bin Muhammad Al-Amiri, Chairman of the Egyptian-Saudi Business Council, welcomed the visit of Dr. Mohamed Moait, Minister of Finance, to Riyadh, and his meeting with members of the Council, which includes a group of major Saudi investors in Egypt.

It confirms the Egyptian government's keenness to listen to investors and find radical solutions to the obstacles they may face, and to study their proposals to stimulate investments.

Promising opportunities for investment in Egypt

He added that there is a desire among Saudi investors to increase the volume of their investments in Egypt during the coming period, in light of the promising opportunities for investment in Egypt in many fields.

 Referring to the ongoing negotiations to reach an agreement to prevent double taxation and protect private investments between the two countries, which would achieve a quantum leap in the flow of joint investments.

Dr. Mohamed Maait, Minister of Finance, affirmed that Egypt is opening its doors to Arab and foreign investors, with a supportive political will for investment, a favorable environment for business, and an economy that has become more attractive with promising opportunities for the private sector in various fields.

State ownership policy document

He explained that the "State Ownership Policy Document" paves the way for the strongest start to enable private investment and increase the contributions of the private sector to economic activity, so that it becomes the locomotive of development and growth. In order to provide productive job opportunities.

Golden license

  While the “golden license” is one of the measures taken by the government to facilitate the business community, and it is granted to new projects, in a way that guarantees the start of accelerating productive activity, and the investor obtains it within 20 days only.

  Pointing out that 32 state-owned companies will be offered to strategic investors or public subscription on the stock exchange for a year until the end of the first quarter of 2024.

The Minister of Finance said that we aim to reach net foreign direct flows to $10 billion during the current fiscal year, compared to $8.6 billion last fiscal year.

This contributes to transforming Egypt into a more stimulating center for production and export to Europe and Africa, especially since we have a developed infrastructure capable of meeting all the needs of productive activities. In addition to many tax and customs incentives, and other preferential benefits.

  Enhancing the competitive strength of Egyptian products

  He explained that we aim to reach $100 billion in exports in the medium term, by working to expand the export base and enhance the competitive strength of Egyptian products in global markets.

Green projects

The minister indicated that we aim to convert 50% of public investments into “green projects” in the next fiscal year.

Egypt has signed a number of partnerships with financing institutions and international development partners, within the framework of the "Novi" program to expand investments in energy, water and food.

  In addition to memorandums of understanding for green energy projects in the Suez Canal Economic Zone worth $83 billion.

  In addition to the signing of 9 framework agreements for the development of ammonia and green hydrogen projects and facilities.