The General Authority for Investment and Free Zones hosted a series of intensive meetings in cooperation with the World Bank and the Ministry of Planning, Economic Development and International Cooperation. This came within the framework of preparing a comprehensive national strategy for foreign direct investment for the period 2025-2030. The meetings were attended by senior World Bank experts, including Mark Ahern, senior Economists at the World Bank’s country office in Egypt, Tom Face, head of the World Bank’s task force and specialist in private sector development, and Harald Jedlica, specialist in mechanisms for improving the investment environment at the World Bank, in addition to representatives of The private sector and government agencies related to the investment file.
Hossam Heiba, CEO of the General Authority for Investment and Free Zones, confirmed that the preparation of this strategy comes in implementation of the presidential directives and decisions of the Supreme Investment Council, by benefiting from the experiences of the World Bank Group in developing a participatory vision and a clear strategy for investment in Egypt. He pointed out that the formulation of this strategy depends on an analysis of… Comprehensive investment opportunities and challenges based on private sector insights, with a focus on achieving an effective partnership between the government and investors to lead economic development efforts.
The CEO of the Authority indicated that the strategy relies on the World Bank’s methodology for surveying sectors, whereby the targeted sectors to attract investment will be divided into two parts:
1. Sectors ready for promotion: These are sectors that provide economic and developmental benefits to the state, and contribute effectively to creating job opportunities and increasing exports, in line with development goals. These sectors also achieve high returns for investors, due to the competitive advantages they enjoy, such as the large market size, Low production costs, availability of appropriate infrastructure, and supporting legislation and procedures.
2. Ambitious sectors: These are the sectors that require implementing reforms to enhance their competitiveness and increase their attractiveness for investments, enabling them to achieve the highest returns and exploit all available potentials.
Dr. Dalia Al-Hawari, Executive Vice President of the General Authority for Investment and Free Zones, explained that the preparation of the foreign direct investment strategy for Egypt went through several basic stages, which began with analyzing and studying foreign investment flows, and assessing the attractiveness of the investment climate in the country, and then moved to the stage of consultation with concerned parties from Government agencies and the private sector, with the aim of ensuring that the strategy is compatible with the needs and aspirations of all parties.
Al-Hawari added that it is expected during the coming months to complete the formulation of the strategy and develop detailed work plans, provided that the proposed programs will be implemented during the period (2025-2030), with performance carefully monitored using clear and specific measurement indicators, to ensure that the desired goals are achieved efficiently and effectively.
The Executive Vice President of the Authority indicated that the strategy is based on a set of basic axes, most notably the creation of cluster links with complementary industries and activities, and working to improve the business climate, in addition to the effective promotion of investment, with a focus on strategic sectors that contribute to supporting sustainable development efforts and promoting growth. Economic.
