Minister Dr. Mohamed Farid:
- Studying the establishment of a specialized investment entity to provide support and assistance to Egyptian investments in Africa.
- Investing in priority development sectors, including the agricultural sector in Africa, opens the door to broad partnerships.
- The Ministry is working to provide a supportive environment for investors by facilitating procedures and accelerating the pace of digitalization.
Minister Alaa Farouk:
- The combined efforts of government agencies and financial institutions contribute to the establishment of major regional projects and accelerate agricultural development.
- Directing Egyptian investments towards the African continent strengthens sustainable supply chains for crops and basic commodities.
Within the framework of the state’s strategy aimed at consolidating investment and trade presence on the continent, in a way that delivers a positive developmental return and aligns with Egypt’s development priorities, Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade (MIFT Minister), and Mr. Alaa Farouk, Minister of Agriculture and Land Reclamation, held a high-level coordination meeting with the participation of representatives from sovereign, economic and diplomatic bodies.
The meeting aimed to explore mechanisms for enhancing investment and trade presence in Africa, in line with the requirements of the Egyptian market and the aspirations of the Egyptian private sector. The two ministers also discussed the feasibility of establishing a specialized investment entity for the African market, intended to provide support and assistance to Egyptian investors across various sectors. This would ensure the expansion of business in strategic sectors related to food security, as well as other productive sectors.
The meeting was attended by Counsellor Mohamed Aba zeid, Legal Advisor to the Chairperson of the Sovereign Fund of Egypt (TSFE), Ambassador Mohamed Abu Bakr, Deputy foreign Minister, Ambassador Mohamed Karim Sherif, Assistant Foreign Minister, Eng. Sherif El-Gebaly, Head of the African Affairs Committee in Egypt’s House of Representatives, Mohamed Ayad, MIFT Advisor, and Abed Mehran, Assistant Minister.
Dr. Mohamed Farid Saleh, MIFT Minister, affirmed that expanding trade and investment in African markets aligns with the Egyptian government's development priorities and is consistent with the political leadership's directives to enhance continental economic integration.
He pointed out that vital sectors related to food security and agricultural development offer promising investment opportunities capable of creating partnerships that generate real added value for both African economies and Egyptian investors.
Dr. Farid revealed a feasibility study for establishing a specialized investment entity to invest in Africa. This entity would provide various forms of support to Egyptian companies wishing to invest in African countries. He affirmed that the work will be carried out on a sector-specific basis and in partnership with the Egyptian private sector, which has a thorough understanding of the African business environment and how to build business models that support Egypt's productive capacities in various priority sectors. This demonstrates the Ministry's commitment to providing support that enhances the competitiveness of Egyptian companies and their sustainable presence in African markets.
Dr. Farid explained that the support and assistance include streamlining procedures and coordinating government efforts at both the technical and financial levels. He emphasized that the government will play a supportive and motivating role for all partners in this proposed entity, ensuring the sustainability of investment activities and transforming them into opportunities to support economic development in Egypt.
On his part, Mr. Alaa Farouk, Minister of Agriculture and Land Reclamation, affirmed that this strategic direction represents a fundamental pillar for supporting agricultural production and enhancing food security across the African continent. He pointed out that Egypt possesses a wealth of accumulated experience in executive planning and the technical management of large-scale projects.
He explained that the integration of efforts between government entities, investment funds, and financial institutions will contribute to establishing major regional projects, accelerating the pace of agricultural development in Africa and simultaneously strengthening Egypt's position as a leading regional hub for innovation and agriculture-related industries.
He further stressed that directing Egyptian investments towards the African continent will contribute to securing sustainable supply chains for strategic crops and basic commodities, which will reduce the import bill and enhance the ability of the continent’s countries to face global crises, stressing that investment in the agricultural sector is the primary driver of comprehensive development due to its high capacity to create job opportunities and develop rural communities throughout the continent.
