Friday 17/October/2025 – 02:03 PM
Engineer Hassan Al-Khatib contract, Minister of Investment and Foreign Trade, held an expanded meeting with Ben Black, the new CEO of the US Development Finance Corporation (DFC), to discuss opportunities for joint cooperation in supporting economic reforms and financing development and investment projects in Egypt, within the framework of the annual meetings of the International Monetary Fund and the World Bank.
At the beginning of the meeting, the Minister congratulated the CEO on assuming his new position, stressing the Egyptian government’s aspiration to expand cooperation with the institution in light of the new direction adopted by the state to empower the private sector and enhance partnership with international institutions, as it is an essential lever for sustainable economic growth.
During the meeting, Al-Khatib reviewed the radical transformation in Egyptian economic policies, noting that the government has succeeded in achieving tangible progress in controlling public finances, stabilizing macroeconomic indicators, and adopting a flexible monetary policy aimed at controlling inflation as a main priority for building confidence and achieving a balance between stability and growth.
The Minister confirmed that the state is working to implement a comprehensive structural reform program aimed at raising the efficiency of public asset management and restructuring state-owned companies through a new central unit that works in integration with the Sovereign Fund of Egypt, to ensure optimal use of assets and maximize investment returns.
He pointed out that the government adopts an institutional approach based on efficiency and transparency, and relies on strategic partnerships with the local and international private sector.
Al-Khatib also reviewed the reform agenda in the business environment, explaining that the state is working to remove bureaucratic barriers through the complete digital transformation of the investment system, through a unified system for providing services to investors electronically, ensuring a reduction in time and cost, and raising the efficiency of government performance.
He added that the government is working to develop the system of fees and charges to become clearer and more consistent, in a way that reduces burdens on the business community and enhances confidence in the regulatory environment.
Regarding the trade system, the minister indicated that Egypt has succeeded in reducing the customs clearance time in an unprecedented manner, with the aim of reaching only two days before the end of the year, which reflects on the cost of trade and competitiveness.
He explained that Egypt is also working to modernize its trade policy to become more open and flexible, which enhances access to global markets and opens new horizons for maximizing the benefit of the distinguished trade agreements to which Egypt has joined, and linking new investments with export capabilities.
The meeting also discussed the priorities of cooperation between the Egyptian government and the DFC in the next stage, especially in financing infrastructure projects, digital transformation and clean energy, supporting small and medium-sized companies, and encouraging investments directed towards manufacturing and export.
The minister stressed that Egypt today has a clear competitive advantage in the cost of production and the availability of labor and engineering personnel, in addition to its strategic location linking Europe, Africa and Asia, which makes it an ideal base for international companies to resettle their industries within regional supply chains. He pointed out that the government is working to benefit from this momentum by implementing an integrated plan to attract qualitative investments in priority sectors such as energy, manufacturing, Technology and tourism.
For his part, Mr. Ben Black praised the serious steps taken by the Egyptian government in economic reform, stressing that Egypt represents a distinguished model in institutional transformation and enhancing governance, noting that the DFC Foundation sees the Egyptian market as one of the most important and promising markets in the region, and that it looks forward to expanding the scope of cooperation with the Egyptian government in financing projects with a sustainable development impact, and supporting partnerships with the private sector in the productive and service sectors.
The meeting concluded by emphasizing the importance of continuing institutional coordination between the two sides to maximize cooperation opportunities during the next stage, in a way that achieves common interests and contributes to supporting the path of economic growth in Egypt.
