Planning and Economic Development Minister Ahmed Rostom confirmed that economic reform has enhanced the state’s ability to manage the repercussions of geopolitical tensions in the Middle East and stressed that the government is continuing reforms to achieve macroeconomic stability and development for citizens.
He spoke alongside Investment and Foreign Trade Minister Mohamed Farid Saleh at a high-level roundtable organized by the Atlantic Council in Washington Saturday on the sidelines of the IMF and World Bank spring meetings.
The session moderated by Khalid Azim reviewed Egypt’s macroeconomic outlook including fiscal and monetary policies used to face global challenges and government efforts to attract foreign capital and increase export competitiveness.
Rostom highlighted government efforts to stabilize the economy through effective fiscal and monetary packages.
He explained that these policies along with the Central Bank starting a monetary easing cycle have helped curb inflation despite pressures from the Middle East crisis.
The minister noted government steps to control public debt and improve spending efficiency while governing public investments to make room for private sector involvement.
He stressed that these proactive measures provided the state with the flexibility to manage regional crises and preserve economic gains.
Rostom affirmed that legislative and economic reforms continue under Egypt Vision 2030 to ensure inclusive growth in partnership with the private sector.
Investment and Foreign Trade Minister Mohamed Farid Saleh reviewed promising market opportunities following regulatory reforms aimed at simplifying procedures and reducing costs.
The minister revealed an ambitious plan to expand investment zones and industrial cities while encouraging the localization of industry to transition from assembly to comprehensive manufacturing to maximize export value.
Saleh affirmed the state’s keenness to remove obstacles for investors by reviewing project establishment systems and accelerating digital transformation through interactive platforms.
He added that work is underway to link investment and financial authorities to automate the entire investment lifecycle.
The minister noted that Egypt is adopting a strategy to link foreign direct investment to increased production and export competitiveness especially in renewable energy and technology through TradeTech solutions.
He also highlighted the momentum of the IPO program and the role of the Sovereign Fund of Egypt in building partnerships with the private sector.
The roundtable saw wide interaction from economic experts and international institutions who praised Egypt’s proactive steps toward a more sustainable growth model.
This participation follows a series of meetings aimed at boosting international confidence and attracting foreign investment.
Economic reforms boost ability to handle regional shocks, attract investment Egypt Independent.
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