Egypt’s exports reached a record of over $40 billion in 2024, with projections of over $115 billion by 2030.
The country also aims to increase export value by 20 percent annually through 2030 under its new Economic Development Narrative, which prioritizes high-productive sectors such as manufacturing, agriculture, tourism, information and communication technology (ICT), and energy.
The meeting, held in the presence of the Minister of Finance Ahmed Kouchouk, focused on aligning economic reforms with investor needs and improving Egypt’s ranking in the World Bank’s Business Readiness Report, a key benchmark for global investors.
During the meeting, ElKhatib said the government is working to position Egypt among the top 50 countries in the report, which evaluates the investment climate across 180 economies.
“The report is a strategic reference for reform, guiding legislative, procedural, and digital transformation efforts,” he noted.
Egypt contributed to the reform process through 10 working groups addressing each of the report’s pillars. Over the course of five months, 36 sessions were held with representatives from the national committee, technical secretariat, and the World Bank.
The minister highlighted that essential goods account for 93 percent of Egypt’s imports, while exports remain limited.
He said the government is implementing a package of trade system reforms to address this imbalance, including 29 measures to reduce customs clearance time to two days, with plans to shorten it further to just hours.
Other reforms include streamlining licensing procedures, launching a digital gateway for economic entities, and promoting Egyptian products in African markets.
ElKhatib also announced a joint study with the Finance Ministry to assess non-tax financial burdens on businesses, marking the first comprehensive review of fees and service charges.
Moreover, the meeting featured a presentation by Dalia El-Hawary, the Executive Vice President of the General Authority and Head of the Technical Secretariat for the Business Readiness Report.
She outlined the report’s structure, which covers the full lifecycle of companies from establishment to market exit, and its three core pillars: legislative framework, digital transformation, and operational efficiency.
Minister Kouchouk said the government is preparing to announce a new package of 25 tax reform measures and is updating the Customs Law to simplify procedures and reduce clearance times.
He stressed the importance of public consultation, noting that draft laws and regulations will be made available for dialogue with the business community.
Additionally, ElKhatib invited attendees to submit written proposals for consideration as part of the ongoing reform process.
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