The meeting reviewed the progress made in implementing economic reforms aimed at attracting more investment, empowering the private sector, and preparing for the upcoming investment conference.
Egypt and the United Kingdom are set to convene an investment conference in December to showcase cooperation prospects and highlight Egypt’s recent economic reforms.
During a meeting between Hassan El-Khatib, Minister of Investment and Foreign Trade, and Mark Bryson-Richardson, the British Ambassador to Cairo, both sides discussed ways to strengthen the strategic partnership between the two countries.
The meeting reviewed the progress made in implementing economic reforms aimed at attracting more investment, empowering the private sector, and preparing for the upcoming investment conference.
Minister El-Khatib emphasized that over the past 15 months, the Egyptian government has achieved a major transformation in macroeconomic policy, encompassing monetary, fiscal, and trade frameworks, as well as a redefinition of the state’s role in the economy.
Regarding inflation, he noted that it has declined to around 12%, reflecting the success of current policies in maintaining price stability despite global challenges.
He added that the government continues to pursue carefully designed structural reforms in the subsidy system to ensure fiscal sustainability and direct resources efficiently to those most in need.
The minister stated that Egypt aims to rank among the world’s top 50 economies in trade competitiveness indices.
Efforts have already reduced customs clearance time by 63% within one year, from 16 days to about 5.8 days, as part of a broader plan to remove non-tariff barriers and enhance the efficiency of external trade operations.
He revealed that a new comprehensive trade policy is being prepared, focusing on openness, competitiveness, and stronger regional partnerships—particularly with African nations.
He stressed the government’s commitment not to raise customs tariffs, in order to avoid additional inflationary pressures and to reaffirm Egypt’s support for global trade rules and the free movement of goods and services.
El-Khatib added that the trade deficit has fallen to its lowest level since 2010, reaching about $30 billion, down from $50 billion—an achievement that underscores the effectiveness of Egypt’s industrial and trade reforms.
He highlighted that Egypt now faces a “golden opportunity”: its strategic location and advanced infrastructure position it as a prime regional hub for manufacturing and exports.
The government, he said, aims to double foreign direct investment (FDI) in a short period through comprehensive legislative and procedural reforms.
The minister also noted that digital transformation is at the core of improving the business climate, with the ministry having launched over 460 digital services and permits through a unified platform, reducing the time to obtain licenses to just 20 days.
Additionally, 96 government entities have been integrated into a unified digital system, allowing investors to complete financial procedures electronically with the Ministry of Finance.
He affirmed Egypt’s determination to build deeper economic partnerships with friendly nations, especially the United Kingdom.
The upcoming Egypt–UK Investment Conference, scheduled for December, will serve as a key platform to review reform achievements, ongoing initiatives, and promising investment opportunities across sectors.
For his part, Ambassador Bryson-Richardson praised Egypt’s progress in implementing economic and structural reforms, saying they reflect a strong commitment to stability and improving the business environment.
He emphasized the need to raise awareness among the British business community about Egypt’s recent positive developments.
The ambassador noted that the investment conference on December 8 will be an important opportunity to highlight these reforms, reaffirming the UK’s readiness to expand technical and institutional cooperation—particularly in customs, fintech, and renewable energy—in alignment with Egypt’s development priorities.
He concluded that the United Kingdom remains a strategic partner to Egypt and will continue supporting its efforts to enhance competitiveness and attract investment.
He also pointed to promising opportunities for British export financing through the UK Export Finance program, alongside new joint projects in agriculture and trade, expected to double bilateral trade volumes in the coming period.
