Egypt aims to cut customs clearance time by 75%: El-Khatib

Updated 9/24/2025 11:17:00 AM

Arab Finance: Egypt's trade policy is seeking to reduce customs clearance time by 75%, Minister of Investment and Foreign Trade Hassan El-Khatib revealed during a meeting with a delegation from the Shafik Gabr Foundation.

The state is also adopting several economic reforms, including monetary policy focusing on inflation and fiscal policy targeting cutting duties and taxes, added El-Khatib.

The minister stressed that the country is implementing this package of reforms to create an attractive investment climate for local and foreign investors.

He also highlighted the promising investment opportunities in the Egyptian market, particularly in tourism, healthcare, communication and information technology, automotive, and renewable energy.

Moreover, he pointed out that Egypt enjoys a strategic location that allows approximately 70% of data traffic between Asia and Europe to pass through, reinforcing its potential to become a major hub for trade and digital services.

The minister indicated that the country also seeks to leverage the wind speeds along the Red Sea to expand clean energy projects and generate electricity from renewable sources.

Furthermore, he emphasized the state's commitment to attracting investments in labor-intensive industries and engineering industries, including the automotive, chemicals, and renewable energy sectors.

Egypt aims to double foreign direct investment (FDI) through a strict and innovative reform agenda, El-Khatib stated.

His remarks came within the framework of the cultural and economic cooperation initiatives launched under the title "The Gabr Fellowship Initiative for East-West: Promoting Dialogue and Building Bridges for Mutual Understanding and Sustainable Development."