President Abdel Fattah El-Sisi Focuses on Developing Foreign Trade System
Today, President Abdel Fattah El-Sisi held a meeting with Prime Minister, Dr. Mostafa Madbouly, and Minister of Investment and Foreign Trade, Eng. Hassan El-Khatib. The discussions centered around the development of the foreign trade system, with a particular emphasis on streamlining procedures, reducing costs, and expediting customs clearance.
The Presidency spokesperson highlighted the importance of localizing the industry, protecting domestic production using trade tools and complying with World Trade Organization (WTO) standards. The meeting also addressed leveraging commercial representation offices and improving the collection of fees from investors to enhance the investment climate.
Furthermore, the talks included a review of investments and projects managed by the Sovereign Fund of Egypt. Efforts to attract more investments and maximize returns from the Fund’s assets were discussed, along with its role in various sectors.
President El-Sisi instructed continued efforts to enhance the investment climate and address structural challenges impacting Egypt’s economy. He stressed the need to reduce procedural and non-tax financial burdens to position Egypt as a regional hub for foreign direct investment in line with national priorities.
The President also emphasized the importance of opening new markets for Egyptian exports, increasing the local component in exports, and establishing Egypt as a key hub for global and regional supply chains.
In conclusion, President El-Sisi’s directives aim to strengthen Egypt’s position in the global market and attract more foreign investments, ultimately driving economic growth and development.
This article was distributed by APO Group on behalf of the Presidency of the Arab Republic of Egypt.
