The Minister of Investment and Foreign Trade reviews the plan of developing the foreign trade and boosting exports in front of the “Economic Committee of the House of Representatives”
The Minister of Investment and Foreign Trade reviews the plan of developing the foreign trade and boosting exports in front of the “Economic Committee of the House of Representatives".
Mohamed Farid: "We are working to build a more efficient and transparent business environment to support the competitiveness of Egyptian economy and increase exports".
Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, participated in the meeting of Economic Committee of the House of Representatives, chaired by Representative Tarek Shoukry, and attended by Major General Engineer Essam El-Naggar, President of the GOEIC in the framework of enhancing the coordination between the government and the legislative power to discuss the State's objectives for improving the investment climate, developing the foreign trade system, increasing Egyptian exports, and stimulating sustainable economic growth.
The minister confirmed that the ministry’s plan of action stems from the directives of the political leadership and the government’s program. The plan focuses on implementing realistic and implementable policies aimed at improving the investor's experience, raising the efficiency of the business environment, and enhancing Egypt’s position as a regional center for investment and trade contributing to attracting added-value productive investments and supporting the competitiveness of the national economy.
Dr. Mohamed Farid demonstrated that the ministry is working on building an integrated digital model for the company’s lifecycle, starting from launching the startup through operation and until the exit, in such way that enhances the efficiency, governance and speed of service delivery, in addition to updating the legislations related to digital transformation, including electronic signature services, digital accreditation and electronic archiving, and removing regulatory obstacles facing the digitization.
With respect to the foreign trade file, the minister affirmed that the State implements an integrated vision to facilitate trade, reduce cusyoms release time, and diminish transactions costs, that will positively affect the competitiveness of Egyptian exports and enhance their access to global markets.
He indicated that the ministry promotes the innovation in foreign trade through providing a flexible regulatory environment for developing and testing modern technological solutions, in addition to relying on proactive mechanisms for analyzing data and monitoring risks and global indicators to protect Egyptian exports and expand their opportunities to access new markets.
He also demonstrated that the GOEIC, headed by Major General Engineer Essam El-Naggar, plays a pivotal role in developing the quality infrastructure and raising the efficiency of technical and regulatory laboratories, in order to ensure that Egyptian products conform to international standards and enhance the confidence of foreign markets in the quality of Egyptian exports.
The minister confirmed the importance of expanding the use of electronic systems to simplify procedures and improve services provided to the business community, in addition to implementing media and promotional campaigns to introduce investment systems, incentives and problem-solving mechanisms, which will contribute to attracting more local and foreign investments.
He pointed out that the State works to increase the local savings rates to finance the investment and reduce dependence on external financing, as well as redirecting the investments to different parts of the Republic to achieve balanced spatial development, and maximize the role of the capital market as a key tool for financing the economy and supporting the Private Sector.
At the conclusion of the meeting, Dr. Mohamed Farid affirmed that the State is proceeding to implement a comprehensive economic and institutional reform program based on the integration of investment, trade and industry policies, in such way that supports the growth of exports, improving the competitiveness of the Egyptian economy, and consolidating Egypt’s position as a regional center for trade, investment and logistics services.
© All rights reserved to General Organization for Export and Import Control 2026