Written by: Badr Ahmed

Dr. Badr Abdel Atti, Minister of Foreign Affairs, Migration, and Expatriate Affairs, and Dr. Mohamed Farid, Minister of Investment and Foreign Trade, discussed ways to enhance coordination between the two ministries to support the expansion of Egyptian companies in African markets. This comes within the framework of the state's efforts to strengthen Egypt's economic presence on the continent and attract more investments, in line with economic development goals and Egypt's Vision 2030.

Egypt strengthens support for its companies' investments in Africa

The two ministers, during their meeting on Wednesday, emphasized the importance of integrating government policies and coordinating efforts to provide a supportive environment for Egyptian companies operating in Africa, and enhancing their competitiveness, which contributes to expanding Egyptian investments and increasing the volume of trade with the countries of the continent.

Dr. Badr Abdel Aty explained that supporting Egyptian companies in Africa is a priority for the Egyptian state, pointing to the continuation of coordination with African governments and institutions to overcome procedural and regulatory obstacles that investors may face, and to open direct communication channels with the relevant authorities, which enhances the access of Egyptian companies to African markets.

The Minister of Foreign Affairs pointed out that Egypt is working on launching financial mechanisms to study and implement development and infrastructure projects in African countries, in addition to establishing the Egyptian Agency for Export and Investment Insurance, with the aim of providing the necessary guarantees to reduce investment risks and encourage Egyptian companies to expand their activities on the continent.

He also emphasized the importance of establishing an Egyptian investment entity to coordinate Egyptian investments in Africa, with the participation of government entities, the banking sector, and the private sector, alongside preparing a comprehensive database of investment opportunities and priority projects, ensuring more efficient movement of Egyptian companies and enhancing their chances of success in African markets.

For his part, Dr. Mohamed Farid affirmed that the private sector represents a cornerstone for strengthening economic and investment relations with African countries, pointing out that Egyptian companies have succeeded in implementing many major development projects on the continent, which reflects the confidence they enjoy and the expertise they have gained in various sectors.

He added that the Ministry of Investment and Foreign Trade is working to increase investment and trade integration with African countries by taking advantage of trade agreements that grant preferential benefits to Egyptian exports, in addition to providing necessary facilities and support for the expansion of Egyptian companies in African markets, in a way that enhances economic partnerships and serves the sustainable development goals in Egypt and the African continent.