Dr. Mohamed Farid Saleh:
- Comprehensive digitalization of investment procedures and expansion of investment zones to localize industry and increase exports.
- A “Regulatory Sandbox for Foreign Trade” to empower exporters through AI and data.
- Deepening capital markets is key to attracting FDI.
Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade (MIFT Minister), and Dr. Hussein Eissa, Deputy Prime Minister for Economic Affairs, participated in a high-level roundtable hosted by the U.S. Chamber of Commerce in Washington. The meeting was attended by Mr. Yasser Sobhi, Deputy Minister of Finance for Fiscal Policies, along with representatives of major American multinational companies.
In his remarks, MIFT Minister reviewed a package of incentives and structural reforms aimed at improving the business environment, emphasizing the ongoing digitalization of all investment procedures to reduce company incorporation timelines and increase capital inflows—from months to just a few days.
In addition, Dr. Farid highlighted the expansion of investment zones to localize industry, focusing on export-oriented sectors, and the launch of initiatives supporting Trade-Tech to help exporters access global markets using artificial intelligence and data.
MIFT Minister addressed the government IPO program, particularly the upcoming offering of Misr Life Insurance Company, noting that deepening capital markets is a fundamental pillar for attracting FDI.
The session included extensive discussions with representatives of American companies on investment opportunities in Egypt, with the Egyptian side reaffirming its commitment to removing obstacles facing foreign investments and emphasizing that Egypt remains one of the most stable and attractive markets in the region.
Eventually, PepsiCo praised the ongoing tax reforms in Egypt and expressed interest in developing the “sugar tax” framework. Meanwhile, Boeing, the global aerospace manufacturer, reaffirmed the depth of its strategic partnership with Egypt, while Chevron, the global energy company, confirmed the continuation of its investments in Egypt’s natural gas sector in line with its expansion plans in the Egyptian market.
