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Egypt positioned to attract increased American investment, says Minister Plenipotentiary
via Egypt Today2 min read
Egypt offers favorable opportunities to attract more American investments, particularly in sectors like renewable energy, information technology, agricultural manufacturing, mining, and financial and logistical services, according to Yahya Al-Wathiq Billah, the Minister Plenipotentiary for Economic and Commercial Affairs in Washington, D.C. He noted that the United States is a significant trading partner for Egypt, with trade exchange increasing by approximately 40 percent last year. Egypt is working to enhance its competitiveness to boost exports to international markets, especially the American market, while considering global developments affecting supply chains. The Egyptian market provides an opportunity for major companies to mitigate disruptions in international supply chains, with a focus on localizing industry and increasing local components in the automotive sector. The Minister of Investment and Foreign Trade, Dr. Mohamed Farid Saleh, recently reviewed incentives and structural reforms at a U.S. Chamber of Commerce roundtable. He also held discussions with the Secretary-General of the International Fund for Agricultural Development and the Director-General of the European Investment Bank to enhance cooperation and development financing, particularly for industrial development and investment zones. Egypt is committed to removing investor obstacles and encouraging the private sector.
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