Photo courtesy of Ministry of Trade and Industry
Al-Wazir made his call during a meeting on Tuesday with US Deputy Secretary of State Christopher Landau.
The talks focused on ways to strengthen Egyptian-American cooperation by drawing on US expertise, including encouraging US companies to establish factories in Egypt. Priority sectors include industry, renewable energy, automotive manufacturing, airport infrastructure and technology.
Minister Al-Wazir emphasized high-potential investment opportunities across Egypt’s maritime sector, specifically highlighting development projects at the ports of Berenice, Ain Sokhna, Safaga, Alexandria, and Gargoub.
The meeting comes as Egypt targets economic growth of 7.5 percent by 2030, driven by private investment, exports and human capital development.
The government’s development strategy places a strong emphasis on industrial expansion, domestic and foreign investment, foreign trade, the green transition and labour market efficiency. By 2030, Egypt aims to attract $24.6 billion in annual foreign direct investment (FDI) and raise total exports to $145 billion.
The US was Egypt’s second-largest source of FDI in FY 2023/2024, with inflows of about $3 billion, accounting for 5.3 percent of total inflows.
Bilateral trade reached $8.6 billion in 2024, making Egypt the US’s fifth-largest trading partner in the region.
Egypt recently signed its first production license agreement for a Sustainable Aviation Fuel (SAF) project with US firm Honeywell UOP, establishing a facility in Alexandria, to convert used cooking oil into aviation fuel with an annual production capacity of up to 120,000 tons.
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