H.E. Dr. Rania Al-Mashat and Minister of Investment and Foreign Trade Follow Up with the World Bank on the National Foreign Direct Investment Strategy and Egypt’s Narrative for Economic Development: Reforms for Growth, Jobs & Resilience

In the Framework of Coordination and Integration Among the Economic Ministries

 

H.E. Dr. Rania Al-Mashat and Minister of Investment and Foreign Trade Follow Up with the World Bank on the National Foreign Direct Investment Strategy and Egypt’s Narrative for Economic Development: Reforms for Growth, Jobs & Resilience

 

H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, and Eng. Hassan Al-Khatib, Minister of Investment and Foreign Trade, held a meeting with a World Bank delegation to discuss the progress of Egypt’s National Foreign Direct Investment (FDI) Strategy and the main pillars of Egypt’s Narrative for Economic Development: Reforms for Growth, Jobs & Resilience, which aims to transform Egypt’s economic model toward production-oriented, high value-added sectors.

 

During the meeting, World Bank officials presented the final draft of the National FDI Strategy and outlined the next steps regarding the targeted sectors, aligned with Egypt’s national priorities and implementation mechanisms. They also reviewed the global context of foreign direct investment and the opportunities available to the Egyptian economy in light of its substantial potential and comparative advantages.

 

H.E. Dr. Rania Al-Mashat, who also serves as Egypt’s Governor at the World Bank, emphasized that the National FDI Strategy forms part of Egypt’s ongoing efforts to diversify sources of economic growth and shift toward higher-productivity sectors. She highlighted the alignment between sectoral strategies, particularly in FDI and industrial development, to focus on sectors with comparative advantages, boost development rates, and generate employment opportunities.

 

H.E. Dr. Al-Mashat also noted the government’s efforts to enhance the efficiency of public investment management, improve governance, and set clear investment ceilings to limit inflation while creating more opportunities for the private sector. She added that technical cooperation with the World Bank in preparing the FDI strategy supports this approach and implements directives from the Supreme Investment Council to establish a clear vision for foreign investment in Egypt, further strengthening efforts to attract and encourage foreign investment within Egypt’s Narrative for Economic Development: Reforms for Growth, Jobs & Resilience.

 

For his part, Eng. Hassan Al-Khatib stressed that the next phase will focus on activating and implementing the National FDI Strategy by concentrating on priority sectors in which Egypt has clear competitive advantages. This approach aims to attract higher-quality investments that contribute to economic growth, create decent employment opportunities, and expand local value chains in strategic sectors. He noted that the ministry is coordinating with relevant ministers to develop and structure investment opportunities that support Egypt’s promotion as an attractive investment destination in these sectors.

 

The minister further explained that strengthening the integration between the FDI strategy and foreign trade policies will be a key focus in the upcoming period. The ministry seeks to link investment attraction plans with export opportunities in regional and international markets, aiming to support priority sectors in transitioning toward export-oriented production, enhancing competitiveness, and creating broader opportunities for high-value-added foreign investments.

 

He added that, in preparation for Egypt’s inclusion in the World Bank’s “Business Ready” report, the ministry is coordinating with other ministries and relevant authorities to enhance the readiness of Egypt’s investment ecosystem. This will boost the country’s ability to achieve tangible improvements in the report’s indicators. He emphasized that ongoing reforms will have a significant impact on improving the business environment and attracting more local and foreign investments. These reforms are based on enhancing the legislative and regulatory framework, expanding digital transformation, ensuring data availability and transparency, and increasing operational efficiency by reducing time, costs, and procedures across the project lifecycle.

 

The Minister concluded that focusing on this comprehensive reform framework strengthens investor confidence and supports Egypt’s pursuit of its sustainable economic development goals in line with Vision 2030.

 

During the meeting, the ministers reviewed the final draft of the strategy and discussed its implementation on the ground, focusing on 13 strategic sectors: automotive and auto parts, electronics, pharmaceuticals and medical supplies, chemicals, textiles and ready-made garments, agriculture and food processing, renewable energy (solar and wind), green hydrogen, logistics and transportation, hospitals and medical centers, hotels and tourist resorts, outsourcing and communications services, and data centers. Of these, eight sectors are ready for promotion, while five sectors are undergoing multiple reforms.

 

The meeting also addressed promoting Egypt’s business and investment environment and preparing the Business Ready report, which aims to enhance the investment climate and attract foreign direct investment through a wide range of reforms, legislation, and improved investor services within the framework of Egypt’s Narrative for Economic Development: Reforms for Growth, Jobs & Resilience.