Egyptian ministers, World Bank discuss foreign investment strategy implementation

Cairo, Egypt – Six Egyptian ministers convened with a high-level delegation from the World Bank to deliberate on the executive plan for the nation's foreign direct investment (FDI) strategy. This high-profile meeting underscores Egypt's commitment to transitioning from strategic planning to integrated, effective implementation.

The gathering, held at the Ministry of Investment and International Cooperation, was attended by the ministers of Investment and International Cooperation, Industry, Finance, Planning and Economic Development, Manpower, and Tourism and Antiquities. The objective was to strengthen coordination among economic and sectoral policies to align with sustainable development goals and enhance the competitiveness of the Egyptian economy.

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the strategy itself represents a comprehensive framework that reflects the harvest of extended work over the past period with the participation of various ministries and concerned authorities.

Minister of Investment and International Cooperation, Dr. Mohamed Farid Saleh, welcomed the attendees, highlighting the strategy as a comprehensive framework resulting from extensive work involving various ministries and stakeholders. He emphasized the current phase's need for government coordination to identify key sectors for promotion, refine FDI attraction policies, and shift from theoretical concepts to practical execution through clear monitoring and evaluation mechanisms.

Representatives from the World Bank presented the strategy's executive plan, detailing its integrated methodology. This approach combines economic data analysis, FDI indicators, and global value chain studies, alongside broad consultations with the government, private sector, and international entities. The plan is built on three main pillars: defining strategic objectives, establishing measurable executive axes, and identifying priority sectors based on sector attractiveness, competitive feasibility, and alignment with national development goals.

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the current phase requires government coordination and integration to identify the sectors that should be promoted first, improve policies for attracting foreign direct investment, and move from the theoretical framework to practical implementation.