El-Khatib highlights role of Egypt VC Summit in economic growth

Updated 2/4/2025 12:33:00 PM

Arab Finance: Minister of Investment and Foreign Trade Hassan El-Khatib participated in the Egypt VC Summit 2025 held on February 4th and 5th, emphasizing the summit's crucial role in fostering stronger ties between investors and driving sustainable economic growth in Egypt and the broader region, as per a statement.

During his remarks, El-Khatib outlined the transitional phase Egypt is currently undergoing, shifting from state management of the economy over the past decade to empowering the private sector to lead economic development.

He highlighted the government's focus on creating a favorable business environment, involving the private sector in economic decision-making, and enhancing the competitiveness of Egypt’s economy.

The Minister also underscored the state’s efforts to attract more foreign direct investment by improving the business climate, simplifying procedures, and enhancing Egypt's position as a leading investment destination in the Middle East and Africa.

El-Khatib noted Egypt’s robust infrastructure, new cities, and skilled workforce, as well as its strategic location, which connects it to key global markets.

In his speech, the Minister pointed out that the government is working to provide a supportive institutional and legislative environment for investors, including ongoing reforms to streamline financial, monetary, commercial, and procedural policies.

He added that efforts are underway to reduce customs clearance time and logistical costs, which will further improve Egypt's trade competitiveness.

Looking ahead, El-Khatib stated that Egypt aims to improve its position in global trade rankings, with the goal of being among the world’s 50 largest economies.