Investment minister Mohamed Farid participated in an open dialogue with CitiBank and met up with Global rating agency Moody’s executives separately to discuss ways to improve cooperation on boosting foreign investments, consultations on how to finance infrastructure projects and industrial and export companies and expand CitiBank’s presence in the Egyptian market through sukuk and bonds.
These meetings align with Egypt’s plan to allocate more funds, digitize and attract investments into to the private sector, to boost competitiveness, expand production, and tackle structural problems in the manufacturing sector to support sustainable economic growth.
Farid also shared updates on the government’s plan to push a private sector-led economy, which is expected to show results in the second quarter of 2026.
This is alongside reviewing Egypt’s strategy to increase foreign direct investments, expand local manufacturing, industrial zones and industrial growth rates while supporting macroeconomic sustainability and stability.
The share of private investments now makes up 58 percent of total investments in Egypt, rising from 42 percent, this is on the back of growth rates of between 9 and 12 percent from the industrial sector, according to the minister.
Egypt eyes private sector, green economy expansions
Farid sat with HSCB Bank and the Bank for International Settlements (BIS) to find ways to improve financial supervision, digital transformation and capacity building in non-banking financial sectors. As well as digitization of the investments system and their contracts to enhance private sector and Resilience of Egypt’s economy.
He also met with US government’s development investment arm, the International Development Finance Corporation (DFC), to deepen partnerships and cooperation to provide financing and development aid in Egypt’s private sector.
The DFC also expressed interest in expanding in Egypt’s mining, telecommunications and development projects sectors.
He also met up with the African Continental Free Trade Area (AfCFTA) to improve economic integration, strengthen Africa’s position in international trade policies, exchanging technical and legal expertise to bolster Africa’s negotiations on trade issues.
Egypt looks into fintech expansions
Moreover, the minister met representatives of US-based digital financial solutions firm Accion and fintech-focused venture capital firm Quona Capital and investment banking firm Jefferies Group to discuss investments in financial technology and fintech solutions for international trade, Egypt’s economic reforms and developments in IPO program.
Steps to IPO Misr Life Insurance company and Banque du Caire on the Egyptian Stock Exchange will start in May and June 2026, Farid said.
Other meetings were with climate-tech firm Green Carbon Solutions to plan localized technology needed to reduce carbon emissions and support the green economy in Egypt. He also presented Egypt’s plan to enhance its competitiveness in becoming an attractive investment environment in a dialogue with 24 American investment organizations, organized by global law firm DLA Piper.
The government is aiming to to increase exports, prioritize industrial development, identify production gaps, by creating an economic database to help private-sector businesses plan investments and expand production, drafting a new resolution to restructure the licensing process for industrial activities outside of industrial zones in Egypt.
This is as per the National Industrial Strategy, which is currently under review, this is to increasee the industrial sector's contribution to GDP from 14 percent to 20 percent by 2030, as it is one of five priority sectors in Egypt’s Economic Development Narrative.
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