"We have significant investment opportunities in Egypt and are working on creating an attractive environment for them. Egypt is a distinguished and attractive market with a population of 120 million including our guests [migrants and refugees], approximately 70 percent of whom are of working age," El-Sisi said during the opening session titled "Presenting the Economic Reform Agenda and the Investment Climate in Egypt."

The session included Hala El-Said, Minister of Planning and Economic Development; Rania El-Mashat, Minister of International Cooperation; Valdis Dombrovskis, Executive Vice President of the European Commission; Oliver Varhelyi, European Commissioner for Neighbourhood and Enlargement; Anna Bjerde, Vice President of Operations at the World Bank Group; and Karim Awad, CEO of EFG Hermes Holding.

President Abdel-Fattah El-Sisi also stated that the Egyptian people are strong and resilient, having endured the consequences of extremely tough challenges.

He highlighted the impacts the COVID-19 pandemic, the Russia-Ukraine war, and the Gaza war have had on the Egyptian economy, adding "I extend my thanks to the people for their endurance. This ability to bear hardship is the greatest assurance for Egyptian and foreign investors."

El-Mashat on Egypt-EU relations
 

During the session, the Minister of International Cooperation Rania El-Mashat discussed the role of economic relations between Egypt and the EU, under the Team Europe initiative, in attracting private sector investments.

El-Mashat emphasized the integration between European institutions, countries, and other development partners in creating a favourable investment climate in Egypt, and provided examples and models achieved in this regard.

She also highlighted how the government's reforms in Egypt have strengthened economic relations with the European side and opened up investment opportunities.

Furthermore, El-Mashat pointed out that economic relations between the European Union and Egypt have significantly developed since 2020 in key areas such as joint projects, funding mechanisms, and investment integration.

Because of this partnership, she explained, the EU provided more than $12.8 billion ($7.3 billion to the government and $5.3 billion to Egyptian and European private sectors) in financing for projects in key sectors such as sustainable infrastructure, renewable energy, electricity, food security, health and education, sustainable transport, water and sanitation networks, small and medium enterprises (SMEs), environmental projects, solid waste management, and women's empowerment.

El-Mashat added that through the EU and European financial institutions, numerous funding mechanisms have become available – including concessional credit lines, equity contributions, and concessional financing for the private sector – at costs significantly lower than those of the local and international market.

She cited the example of the European Investment Bank (EIB), which has provided €790 million in funding over the past five years across 19 local and regional equity funds.

The bank, El-Mashat added, has also offered approximately €3.1 billion in credit lines to local banks such as the National Bank of Egypt, Banque Misr, and Alexandria Bank to support over 13,000 projects and 133 company programs, and create 242,000 jobs.

Additionally, more than 80 percent of the European Bank for Reconstruction and Development's (EBRD) investments in Egypt have been directed to the private sector, she affirmed.

According to El-Mashat, from 2017 to 2023, EBRD investments in Egyptian companies in the EU reached approximately $119 million. These investments focused on agribusiness, manufacturing, and services.

Similarly, from 2014 to 2024, EBRD's investments in European companies in Egypt reached around $456 million.

El-Mashat also highlighted that the EU has provided grants to enhance blended finance and reduce private sector financing risks and costs, citing the example of the “NWFE” national platform.  

This platform, she explained, includes diverse projects implemented by the private sector and funded by European development partners such as the EBRD and EIB. It also involves innovative financing mechanisms like debt-for-climate swaps.

As an example of these projects, El-Mashat cited a €104 million project funded by Germany to support the energy component within the program.

 

El-Said on Egypt’s economic reforms
 

Hala El-Said, Minister of Planning and Economic Development, stated that enhancing the role of the private sector is one of the main pillars of Egypt's national structural reform program.

She stated that the reform programs in Egypt over the past decade have been carried out in partnership and cooperation between the government, the private sector, and civil society.

Furthermore, El-Said explained that the structural reform program aims to transform the trajectory of the Egyptian economy to become a productive economy with competitive capabilities to encourage inclusive growth, create decent and productive job opportunities, diversify and develop production patterns, improve the investment climate and business environment, localize local industries, and increase the competitiveness of Egyptian exports.

She pointed out that the main axis of the structural reform program involves focusing on three priority productive sectors; namely agriculture, industry, and information and communications technology.

According to El-Said, these sectors have been chosen based on several considerations, the most important being their ability to grow fast, create high-added value, provide productive and decent job opportunities, and establish strong interconnections with other sectors.

She also stressed that the government supports startups, small businesses, and entrepreneurship, and is reutilizing unexploited assets in partnership with the private sector, citing projects such as converting the Cosmic Village into an educational complex and the Tahrir Complex into a hotel and multi-purpose building.

El-Said further highlighted that the private sector manages and develops several university buildings.

The Minister of Planning and Economic Development also spoke about Egypt's Sovereign Fund as one of the state's investment arms and a mechanism for partnership between the government and the private sector to diversify funding sources.

She said the fund has implemented 17 projects over the past four years, with local investments totalling EGP 52 billion and foreign investments amounting to $5.1 billion, stressing that the development and planning ministry has collaborated with several other ministries, state institutions, and the Suez Canal Economic Zone to transform Egypt into a regional hub for new and renewable energy.

Moreover, El-Said emphasized that "Egypt has a competitive advantage in becoming a regional centre for new and renewable energy and for localizing industries related to such projects."

She concluded by noting that Egypt is working on localizing industries for electric cars and trains, pointing out that investing in public transportation is crucial to providing decent transportation for Egyptian citizens.