Egyptian Foreign Minister Dr. Badr Abdelatty emphasized the government’s commitment to expanding the private sector’s role in driving economic growth and advancing the State Ownership Policy document, which aims to boost private investment.
This came during his participation on Monday in a business forum in Germany, co-organized by the German Chambers of Industry and Commerce (DIHK) and the Federation of German Industries (BDI), attended by top executives from leading German companies. The discussions focused on enhancing bilateral economic and trade cooperation between Egypt and Germany.
Foreign Ministry spokesperson Ambassador Temim Khalaf stated that Minister Abdelatty highlighted the importance of deepening economic partnership with Germany, underscoring the private sector’s critical function in elevating investment and economic collaboration. He outlined ongoing efforts to empower private enterprises and improve the investment climate.
Abdelatty noted that Egypt continues implementing broad reforms to stimulate economic activity, upgrade infrastructure, and create favorable conditions for attracting foreign capital. He pointed to expanded private-sector involvement in key sectors as part of this strategy.
The minister affirmed that Egypt is taking concrete steps to streamline administrative procedures and enhance its legal and tax frameworks, including launching the first phase of tax incentives. Support for small and medium enterprises (SMEs) and startups is also being prioritized, alongside active promotion of investment in clean energy, industrial localization, digital transformation, pharmaceuticals, and information and communications technology, all supported by targeted incentives.
He highlighted investment opportunities in the Suez Canal Economic Zone, a strategic platform for global firms due to its prime location and direct access to regional and international markets. He also cited reforms that have stabilized the foreign exchange market, increased foreign currency reserves, significantly reduced inflation, and returned economic growth to a positive trajectory.
The meeting included extensive dialogue on expanding bilateral economic ties, promoting mutual investment, and achieving sustainable growth. Both sides explored new avenues for cooperation based on available opportunities, aiming to fully leverage the potential between the two friendly nations.
— news from اليوم السابع