Rania Al-Mashat, Minister of Planning , Economic Development and International Cooperation, highlighted that the meeting follows directives from President Abdel Fattah El-Sisi to cooperate with the World Bank in developing a methodology for enhancing foreign direct investment in Egypt.
The Ministry of Planning, Economic Development, and International Cooperation, hosted a consultative meeting with representatives from 17 ministries and national agencies to discuss the draft of the National Foreign Direct Investment (FDI) Strategy. The strategy has been developed in close partnership with the World Bank Group.
Rania Al-Mashat, Minister of Planning , Economic Development and International Cooperation, highlighted that the meeting follows directives from President Abdel Fattah El-Sisi to cooperate with the World Bank in developing a methodology for enhancing foreign direct investment in Egypt.
These efforts align with the instructions given by the Supreme Council for Investment in May 2023, in coordination with the General Authority for Investment and Free Zones, to leverage the World Bank’s expertise in creating a comprehensive and participatory strategy for foreign investment in the country.
Al-Mashat explained that the National FDI Strategy, prepared in collaboration with the World Bank and in coordination with relevant national bodies, aims to bolster the country’s efforts to attract and encourage foreign investments.
She emphasized that partnerships with international organizations result in diagnostic reports and studies, which provide recommendations and action plans that are implemented on the ground across various sectors to drive development efforts.
Other participants included the Central Bank of Egypt, the Information and Decision Support Center, the Central Agency for Public Mobilization and Statistics (CAPMAS), the Financial Regulatory Authority, the General Authority for the Suez Canal Economic Zone, and the Small, Medium, and Micro Enterprise Development Agency.
The Ministry of Planning, in coordination with the Ministry of Investment, the General Authority for Investment and Free Zones, and the World Bank, continues to engage with all relevant stakeholders.
Numerous workshops will be conducted to incorporate all feedback on the new strategy, underscoring the state’s focus on boosting both domestic and foreign investments and empowering the private sector.
