The Secretary-General of the Union of Arab Chambers, Dr. Khaled Hanafy, confirmed during his management of the round table held within the activities of the Arab-German Economic Forum, in the German capital, Berlin, on 20-5-2025, and brought together the heads and members of the boards of directors of the Arab Chambers and their federations, with His Excellency the Egyptian Minister of Investment and Foreign Trade, Eng. Hassan Al-Khatib, that "in the past, investors and businessmen had concerns about the issue of liberalizing the exchange rate in Egypt, as well as the investor had concerns about the multiplicity of bodies concerned with regulating the investment sector in Egypt, as well as concerns about the issue of freedom of trade in Egypt, in addition to many indicators that were worrying Arab and foreign investors to invest in Egypt."
He explained that "the measures taken and taken by the Egyptian government not long ago began to contribute to dispelling the concern of investors, and this is a very positive indicator, and it was reflected in a certain place on the remittances of Egyptians working abroad, as the volume of those remittances in the last period amounted to about 30 billion dollars, and this is optimistic, and shows that Egypt has become more open and more attractive to investors, although there are some concerns that the investor needs to dispel to double his investments in Egypt in the coming period."
He stressed that "digitization is the key to the solution in the Arab Republic of Egypt, as we look forward in our Arab world to renaissance and development with a completely different mentality from the past, and the Arab youth with their mentality, new mentality and high competencies, is the key to change and development, and for that we are working to crystallize a new future vision in order to face the challenges we face."
He revealed that "the Egyptian government is working to involve the Egyptian private sector in the implementation of vital and important projects, after it was able to stabilize the exchange rate in the last few stages, as well as reduce the inflation rate. The government is also working to remove all obstacles and obstacles that previously hindered attracting Arab and foreign investments and investors to Egypt, through the adoption of reform laws and modern investment legislation to reduce bureaucracy and corruption, which reassures Arab and foreign investors to come to Egypt and invest more in the coming period."
Minister Khatib noted that "the sovereign fund is the most appropriate solution to stimulate the Egyptian economy, and I have proposed to His Excellency President Abdel Fattah Al-Sisi the need to regulate the work of companies in all economic sectors, which will contribute to raising profits, and thus increasing the flow of funds to the state treasury."
He stressed that "Egypt is on the path of change, and has made progress in many areas, but reaching the desired goal needs more time, and the Egyptian government has realized that achieving success requires strengthening partnership between the public and private sectors."
In addition, interventions by the participants in the seminar focused on the obstacles facing investors in Egypt. The interventions focused on the fact that Egypt has a historic opportunity to be among the prominent economies in the Middle East and North Africa, where it has very important human resources, and has the potential to attract huge investment projects in the technology sector, as a result of its development of the important infrastructure for these projects.
The participants pointed out that there are some laws and legislations that Egypt needs to pass at the earliest opportunity, which will make Arab and foreign investors invest more in the next phase in Egypt.
Source (Union of Arab Chambers)
