Arab Finance: Minister of Investment and Foreign Trade Mohamed Farid Saleh, Minister of Finance Ahmed Kouchouk, and Deputy Governor of the Central Bank of Egypt (CBE) Rami Aboulnaga met with senior executives from HSBC in London to discuss strengthening investment partnerships and supporting the expansion of global companies in Egypt, as per a statement.
During the meeting, Farid reviewed the latest developments in Egypt’s economic reform program, highlighting the government’s commitment to fiscal discipline, exchange rate flexibility, inflation targeting, and expanding the role of the private sector in driving sustainable economic growth.
He said recent economic measures were designed to ensure the continuity of economic activity and maintain the availability of production inputs, stressing that consistency in policymaking remains critical to attracting investment.
He added that Egypt has managed regional challenges through adherence to its announced economic policies without resorting to exceptional measures, which has helped strengthen confidence among investors and international institutions.
Farid also outlined trends in foreign direct investment (FDI), noting that investment flows are becoming increasingly diversified, with Asia and China accounting for around 40% of inflows, Europe and Türkiye contributing 30%, and the remainder coming primarily from Gulf countries and the US.
Moreover, he mentioned that Egypt has benefited from ongoing shifts in global supply chains and companies’ efforts to diversify production bases, particularly across industrial, energy, and services sectors.
The minister acknowledged that some sectors, including the Suez Canal, were temporarily affected by regional developments but said the economy has demonstrated resilience due to clear and consistent policies.
He also reviewed ongoing legislative reforms aimed at facilitating company establishment, capital increases, mergers and acquisitions, and the modernization of investment tools. In addition, he highlighted progress in digital transformation initiatives, including the expansion of electronic Know Your Customer (e-KYC), electronic Know Your Business (e-KYB), and e-Contracts, as well as efforts to fully digitize the investor journey to improve efficiency and reduce costs.
For his part, Kouchouk said the government remains committed to a financial reform program that balances economic stability with growth. He noted that recent tax incentives have helped strengthen confidence, encourage participation in the formal economy, broaden the tax base, simplify procedures, and reduce compliance burdens.
Aboulnaga reviewed efforts to enhance the financial sector’s digital infrastructure, expand digital verification tools, and strengthen financial inclusion to improve the efficiency of financial transactions.
HSBC executives welcomed Egypt’s progress on its economic reform agenda, noting that monetary, exchange rate, and fiscal reforms have strengthened the confidence of investors and international institutions in the Egyptian economy.
The bank has a longstanding presence in Egypt, spanning more than five decades, and reaffirmed its continued role in supporting investment, trade, and financing activities in the market.
HSBC officials pointed to the ongoing expansion of the bank’s global services center in Cairo and its increasing reliance on Egyptian talent, describing Egypt as a growing regional hub for financial and technology-enabled services.
The meeting concluded with both sides affirming their commitment to continued cooperation to support investment, attract additional capital inflows, and strengthen the presence of international businesses in Egypt.
