Minister of Investment and Foreign Trade (MIFT Minister), Dr. Mohamed Farid Saleh, met with the United Kingdom’s Special Representative for Climate, Dr. Rachel Kyte, in an extended meeting that addressed avenues for strengthening cooperation in sustainable investment and clean energy. The meeting also reviewed Egypt’s efforts toward transitioning to a green economy, in preparation for the ministerial launch of “Green Growth: Egypt–UK” partnership next May.
The discussions underscored the importance of establishing clear and stable regulatory frameworks and government policies, enabling both governments and international investors to effectively assess and integrate investment opportunities into their business models. On his part, MIFT Minister, emphasized that markets possess inherent mechanisms for correction and growth when supported by an appropriate legislative and regulatory environment, stressing the need for alignment between fiscal, monetary, and investment policies to build confidence and attract foreign direct investment (FDI) flows, alongside empowering capital markets as a key driver of sustainable finance.
Both sides also examined mechanisms for activating Egypt’s first voluntary carbon market, as well as ways to connect the domestic market with global financial centers, in addition to reviewing the renewable energy certificates (RECs) framework.
Dr. Farid highlighted Egypt’s efforts to establish a unified national register for climate-related projects, which would support the development of environmental credit systems, including carbon credits and International Renewable Energy Certificates (I-RECs), while contributing to reducing operational costs for companies.
The meeting further addressed the importance of establishing fair and transparent standards for measuring the carbon footprint of energy-intensive products, ensuring alignment with international standards and safeguarding the competitiveness of the Egyptian exports—particularly those that comply with the EU’s Carbon Border Adjustment Mechanism (CBAM).
In support of the investment climate, discussions also covered ways to address challenges facing project developers, including the importance of establishing centralized databases for developers, strengthening technical capacity-building programs, and enhancing project evaluation mechanisms, alongside showcasing investment opportunities in promising sectors.
The two sides also explored avenues for mobilizing concessional financing to support industrial transformation toward the adoption of green hydrogen and clean technologies. In this context, MIFT Minister affirmed that ongoing structural reforms include enhancing the efficiency of the Government institutions and advancing the digitalization of services, while also addressing the social dimension through workforce upskilling and training for green economy jobs—thereby enabling inclusive and sustainable economic growth.
At the conclusion of the meeting, Dr. Kyte reaffirmed UK’s commitment to supporting Egypt’s green growth agenda, commending the country’s strong potential to serve as a regional hub for energy and investment.
In response, Dr. Farid reiterated the Government of Egypt’s continued efforts to foster an attractive investment environment through a range of incentives, including the “Golden License,” further positioning Egypt as a leading destination for sustainable investment.
