He said the ranking reflects Egypt’s improving macroeconomic stability, a more confident investment climate, and a significant expansion in private-sector activity.
Guyett's visit, which concludes on Wednesday, included high-level discussions with senior government officials and key private-sector partners in Egypt.
The visit underscores Egypt’s position as one of the EBRD’s strongest and most strategically important economies across its regions.
Guyett was joined by a senior delegation from the bank, including Matteo Patrone, EBRD vice president for banking; Mark Davis, managing director for the Southern and Eastern Mediterranean (SEMED); and Reem El Saady, deputy head of Egypt.
Guyett, who has been in his post for four months, chose Egypt as one of the first major countries to visit, given its weight within the bank’s portfolio.
“Egypt is absolutely in the top tier for the EBRD,” Guyett stated, noting that the bank sees the country as a central hub for its operations and plans to expand the Cairo office further soon.
He told Ahram Online that the delegation held meetings with Prime Minister Mostafa Madbouly, Minister of Industry and Transport Kamel Al-Wazir, Minister of Planning, Economic Development, and International Cooperation and EBRD Governor Rania Al-Mashat, and Minister of Petroleum and Mineral Resources Karim Badawi.
According to Guyett, the talks focused on Egypt’s macroeconomic reforms, investment priorities, and expanding opportunities for private-sector-led growth.
“Egypt remained the top recipient of EBRD investment in the SEMED region in 2025, receiving approximately 1.5 billion euros, with 80 percent directed to the private sector," he said.
He explained that half of the portfolio supported green projects, reflecting the Bank’s growing commitment to Egypt’s climate and energy-transition agenda.
Guyett added that EBRD’s work in Egypt is centred on promoting an inclusive economy, accelerating the green transition, and enhancing competitiveness by strengthening governance and expanding private-sector participation.
Since launching operations in Egypt in 2012, the bank has invested more than 13.8 billion euros across 209 projects, making Egypt one of its most significant portfolios globally.
Egypt’s macro path ‘much more encouraging’
Reflecting on developments since his previous visit in 2023, Guyett described Egypt’s macroeconomic trajectory as “much more encouraging,” pointing to stronger foreign investor appetite, stabilizing foreign exchange conditions, and improved public-debt management.
He praised the government’s engagement with the International Monetary Fund (IMF) and the Central Bank of Egypt’s “credible and independent” approach to monetary policy.
He acknowledged that challenges remain, particularly in preserving fiscal discipline and advancing state-owned enterprise reform, but said the trajectory is clearly positive.
The surge in foreign direct investment, including major Gulf-led developments on the northern coast, and the stronger participation of non-residents in local debt markets reflect growing international confidence in Egypt’s reform programme, he said.
EBRD investments set to grow in 2025
According to Guyett, the bank expects its 2024 investments in Egypt to close at around 1.4 billion euros. He said he would be “very disappointed” if that figure does not grow in 2025, provided the macroeconomic outlook continues to stabilize.
He added that EBRD’s increasing staffing in Cairo reflects its plan to solidify Egypt’s role as a regional operational centre.
Concerning the private sector regaining appetite for long-term investment, Guyett told Ahram Online that nearly 80 percent of EBRD’s activity in Egypt is directed to the private sector.
He added that he was encouraged to find a renewed willingness among companies to commit to long-term capital investment, something that had been constrained in recent years by economic uncertainty.
“Energy, agriculture, and manufacturing are now emerging as the strongest candidates for scaled-up private investment. Egypt is well placed to attract export-oriented manufacturing due to its competitive cost base and geographic proximity to Europe and the Gulf," Guyett explained.
He cited growing interest in automotive production, industrial components, and agriculture, particularly for Mediterranean and European markets.
Moreover, technology and innovation represent a growing frontier for Guyett. He said Egypt needs more early-stage risk capital and more investment in digital infrastructure, including data centres, and that the EBRD intends to play a role in developing this ecosystem.
Tourism, energy exports could accelerate growth
Asked about Egypt’s ambition to raise GDP growth to seven percent by 2030 under its new economic narrative, Guyett said the target is achievable if the country sustains momentum in its key growth sectors.
Tourism, he stressed, is “an obvious pillar,” noting that Egypt has the potential to evolve from a once-in-a-lifetime destination to a repeat global destination.
His visit to the Grand Egyptian Museum left him “extremely impressed,” and he welcomed the emerging plans for expanded hospitality and cultural infrastructure around Giza and beyond.
Guyett also highlighted the potential for energy exports, particularly through regional power interconnections with Europe and Saudi Arabia, which could provide Egypt with significant long-term revenue.
Manufacturing and agriculture, he added, will continue to offer substantial opportunities, especially as global supply chains shift and reconstruction needs grow in neighbouring regions once stability returns.
Supporting green transition
On Egypt’s shift toward a greener economy, Guyett said, “We are focused on helping build the energy system of the future.”
He stated that a large share of the bank’s future investments will support renewable energy, grid modernisation, industrial decarbonisation, and, where necessary, blended finance for storage technologies and other emerging areas.
Looking ahead to 2026 and 2030, Guyett said the EBRD’s regional priorities will focus on sustainable infrastructure, private-sector competitiveness, and regional energy integration, with efficiency central to achieving a low-carbon economy.
As his visit concluded, Guyett reiterated Egypt’s growing importance within the EBRD. “We see enormous potential here,” he said. “Egypt is one of the pillars of our work, now and in the years to come.”
On Tuesday, Prime Minister Mostafa Madbouly witnessed the signing of six agreements and memoranda of understanding between the Egyptian government and the EBRD to strengthen development cooperation and support the state’s initiatives in investment, energy, and sustainable development.
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