Dr. Mohamed Farid:
- The IPO program aims to maximize asset value, not merely generate liquidity
- A unified system linking four key entities to position Egypt among leading nations in ease of doing business
- Advancing non-oil exports through the integration of modern technologies and artificial intelligence
Amine Mati, Assistant Director, Middle East and Central Asia Department, IMF:
- We commend the seriousness and transparency of Egypt’s structural reforms
- Ongoing coordination to ensure the achievement of the Economic Reform Program targets
During a high-level meeting at the headquarters of the International Monetary Fund (IMF) in Washington, Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade (MIFT Minister), met with Mr. Amine Mati, Assistant Director of the Middle East and Central Asia Department, in the presence of Mr. Yasser Sobhi, Deputy Minister of Finance, and a delegation of IMF experts. The discussions focused on the latest developments in Egypt's Initial Public Offering (IPO) program, capital market advancement, and key reforms in the foreign trade sector.
During the meeting, MIFT Minister emphasized that Egypt’s IPO strategy has evolved beyond the objective of “liquidity generation” toward a more strategic goal of maximizing the market value of state-owned assets and ensuring fair investment returns.
He also reviewed the current progress of Misr Life Insurance Company, indicating that its offering is expected between May and June 2026, reflecting the government’s strong commitment to announced timelines.
In a major step toward eliminating procedural bureaucracy, Dr. Farid announced a comprehensive plan to digitally integrate key entities—including the General Authority for Investment and Free Zones (GAFI), the Financial Regulatory Authority (FRA), the Commercial Register, and Misr for Central Clearing, Depository and Registry (MCDR)—through a unified system. This initiative is set to reduce the time required for capital increase procedures from several months to just a few working days, positioning Egypt among advanced economies in ease of doing business.
Dr. Farid further outlined MIFT’s strategy to leverage advanced technologies for trade data analysis, empowering exporters and innovative youth while driving growth in non-oil exports and enhancing the competitiveness of Egyptian products.
On his part, Mr. Amine Mati and the IMF experts team praised the Egyptian government’s structural reform efforts, expressing appreciation for the transparency demonstrated in presenting the progress of the IPO program.
The meeting concluded with an agreement to maintain close coordination to ensure alignment between outcomes and the economic objectives set under Egypt’s Economic Reform Program.
The IMF is an international institution comprising 190 member countries, dedicated to promoting global financial stability and monetary cooperation. It is currently supporting Egypt in implementing a comprehensive structural and economic reform program.
