Ministry of Investment hosts Egyptian-Hungarian business forum to boost trade, investment ties
Updated 4/10/2025 2:51:00 PM
Arab Finance: The Ministry of Investment and Foreign Trade hosted the Egyptian-Hungarian Business Forum, attended by Minister of Investment and Foreign Trade Hassan El-Khatib; Hungary's Minister of Foreign Affairs and Trade Péter Szijjártó; and Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat, as per a statement.
The forum, which included trade delegations from both countries, focused on exploring investment and trade opportunities between Egypt and Hungary.
El-Khatib welcomed Szijjártó, noting that Hungary’s high-level trade delegation visit demonstrates Hungary's commitment to strengthening economic ties with Egypt.
He praised Al-Mashat for her efforts in bolstering Egypt’s global partnerships and international presence.
The forum's aim, according to El Khatib, was to explore significant cooperation opportunities between the two nations in sectors such as energy, green economy, industry, technology, digital transformation, and healthcare.
El-Khatib emphasized Egypt’s ambitious transformation plan to position itself as a leading investment hub in Africa.
He highlighted that Egypt attracted $46.6 billion in foreign direct investment (FDI) in 2024 and is targeting $60 billion in FDI and $145 billion in exports by 2030, with 65% of investments coming from the private sector.
El-Khatib stressed the potential for Egypt and Hungary to build lasting partnerships, leveraging Egypt's strategic location, young workforce, and growing infrastructure alongside Hungary’s expertise in key areas.
Szijjártó reaffirmed Hungary's strong relations with Egypt, underscoring the successes in transportation and communications, including the Egyptian Railways Modernization Project and the Egypt-Europe Fiber Optic Cable.
He also noted ongoing negotiations to enhance cooperation in energy, agriculture, and water, as well as progress in power plant projects in Egypt.
Szijjártó expressed pride in the growing people-to-people ties, citing the rise in Egyptian students in Hungary and the expanded air network between the two nations.
Al-Mashat emphasized Egypt’s commitment to sustainable development, the Egypt Vision 2030 strategy, and the continued focus on attracting foreign investment and strengthening public-private partnerships.
She outlined efforts to accelerate economic reforms, enhance financial sustainability for key projects, and improve citizens' living standards, with a particular emphasis on renewable energy, education, and healthcare.
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