Arab Republic of Egypt Ministry of Investment and Foreign Trade General Organization for Export and Import Control

Eng. Hassan El Khatib, Minister of Investment and Foreign Trade, confirmed in his speech, before the plenary session of the House of Representatives, headed by Dr. Hanfy El-Gebaly, Speaker of the House of Representatives, and attended by the first and second deputies of the House of Representative and Eng. Essam El Naggar, Chairman of the General Organization for Export and Import Control, heads of parliamentary bodies, heads of committees, and the representatives, that the vision of the Ministry of Investment and Foreign Trade is based upon achievement of a group of principal targets within the framework of the State's Public Policy for ensuring achievement of economic and social development.

The Minister added that the Ministry's vision includes clear and transparent policies that motivate the investment and reduce non-tax and procedural financial burdens on the investor, taking into consideration, the necessity of demonstrating the investor's rights and obligations towards the state during the period of investment. It also includes assuming the private sector the principal pivotal role in boosting the economy along with transferring the State's role into the superintendent, regulator and controller for ensuring a fair investment environment.

El Khatib explained that the Ministry's vision also comprises open trade policies that contribute to increasing exports and reducing the trade deficit via encouraging national investments in the field of production and exportation, providing the services entailed by exporters, and increasing the share of local investment companies in the volume of global exports. Ministry's vision also includes strengthening trade relations between Arab Republic of Egypt and countries, international and regional trade organizations and institutions, reviewing all present trade agreements and renegotiating to achieve the maximum possible benefit for the Egyptian economy and opening new horizons for trade cooperation along with focusing upon priority markets.

The Minister noted that the Ministry's vision also includes protection of the Egyptian economy against harmful practices in international trade, and it also includes doubling assets size and investments managed by Egypt's Sovereign Fund to reflect the true value of the Egyptian economy and maximize the benefit and increase the return on  the State's assets that are not optimally exploited, through effectively managing them using innovative strategies and partnerships with the private sector, reviving national brands, building a strong identity and enhancing their competitiveness.

El Khatib showed that Egypt is currently going through a pivotal and transitional phase that enhances the role of the private sector and increases the volume of domestic and foreign investments, indicating that this phase entails concerted efforts among legislative and executive authorities through adopting spirit of joint responsibility, ensuring the provision of an attractive and sustainable investment environment, creating opportunities of new job, in addition to formulating supportive policies and legislations with a focus on the most needy areas and priority sectors in line with the State’s plans of development.

The Minister referred that the stability and clarity of macroeconomic policies, including monetary, financial and trade policies, represent positive messages to the investors regarding the state’s ability to provide sustainability in business.

El Khatib confirmed the Ministry of Investment and Foreign Trade's full commitment to the directions of Egypt's Public Policy consistent with Egypt's Vision 2030, and the government's plan of action "Together We Build a Sustainable Future - 2024/2025 - 2026/2027" that is approved by the esteemed House of Representatives.