Dr. Mohamed Farid:
- Implementing further economic reforms and policies to increase investments and exports.
- Developing government services and simplifying procedures for the business community, especially small and medium-sized investors.
- Integrating investment, trade, and industry portfolios to achieve tangible results for investors.
- Strengthening communication strategies with the business community and holding regular meetings between Export Councils and Chambers of Commerce.
Dr. Mohamed Farid, Minister of Investment and Foreign Trade (MIFT Minister), affirmed that the government is working to boost investments and exports through continuous and gradual integrated economic, structural and institutional reforms, where some of the effects of these reforms appear in the short term, while efforts will continue to ensure the sustainability of reform, strengthen investor confidence, and improve the business and investment climate.
This came during his participation in a ministerial panel discussion at the annual suhoor event hosted by Dcode Economic and Financial Consulting (Dcode EFC), with the participation of Mr. Ahmed Kouchouk, Minister of Finance; Dr. Ahmed Rostom, Minister of Planning and Economic Development; and Eng. Khaled Hashem, Minister of Industry. The session was moderated by Eng. Aly El-Sherei, Vice Chairman and Managing Director of DCODE EFC.
Dr. Mohamed Farid pointed out that the effectiveness of implemented policies and procedures is not measured solely by their ability to attract major investments, but also by their capacity to create a more efficient and competitive environment for all investors, especially small and medium-sized enterprises (SMEs), which represent the largest segment of the business community. Therefore, we are working to develop government services and simplify investment procedures through a clear plan and vision, enabling investors to access services without any complications.
MIFT Minister stated that several measures are being implemented to improve the investment climate and overcome some of the challenges facing the business community, including the prompt export Rebate Program. He explained that continuing the digital transformation of services provided to investors and reducing reliance on human intervention will contribute to achieving these goals and enable investors to complete their transactions more quickly.
In this regard, Dr. Mohamed Farid emphasized the importance of ongoing coordination and integration among ministries and relevant entities concerned with investment, trade, and industry. This coordination aims to implement consistent procedures and a comprehensive vision for economic policies and reform measures, while also prioritizing objectives to expedite decision-making and achieve tangible results for investors and the business community.
He also highlighted the need to strengthen communication with the business community and the private sector through continuous meetings between export councils and chambers of commerce, aiming at unifying messaging and addressing challenges.
Furthermore, the Minister discussed the government's efforts to develop the entrepreneurship ecosystem, noting that enhancing the effectiveness of financing is one of the most important tools for supporting the growth of start-ups and enabling their expansion in the Egyptian market.
He also addressed the rapid global technological and economic transformations that are clearly impacting the labour market, noting that the ongoing transformation will undoubtedly lead to the disappearance of some jobs and the emergence of new ones with new requirements. This underscores the necessity of being fully prepared for this transformation, developing skills, and advancing education and training to meet its demands.
