Egypt is embarking on an ambitious economic development plan, setting a target to attract $15 billion in foreign direct investment for the 2024-2025 fiscal year. This goal is part of a broader strategy to boost the country’s economy and improve living standards for its citizens.To achieve this, the government has launched several initiatives. The Ministry of Industry has introduced the ‘Made in Egypt’ digital platform, offering 1,124 industrial land plots across 14 governorates. This platform aims to simplify procedures for industrial investors and includes services such as land allocation, operation licensing, and annual follow-ups.Concurrently, significant infrastructure and development projects are underway across the country. In the New Valley Governorate, which represents over 40% of Egypt’s total area, the Ministry of Housing has implemented 60 development projects at a cost of approximately 6.47 billion Egyptian pounds. These projects include the construction of 880 kilometers of roads, 2,096 housing units, and various water supply and sanitation initiatives.Egypt is also strengthening its ties with international financial institutions. The Minister of Planning and Economic Development, Dr. Rania Al-Mashat, recently met with the President of the BRICS New Development Bank, Dilma Rousseff, to discuss cooperation in areas such as green energy, logistics, and trade facilitation. This partnership aims to support Egypt’s sustainable development goals and enhance its position in global trade.Furthermore, the government has launched the National Human Development Project, focusing on social protection, health, education, youth and women empowerment, employment, and housing. This comprehensive initiative aims to build a better future for Egyptians by improving living conditions and developing human capital.These multifaceted efforts reflect Egypt’s commitment to economic growth, sustainable development, and improving the quality of life for its citizens. As the country continues to implement these initiatives and attract foreign investment, it is positioning itself as a key player in regional and global economic development.
Key points
- Egypt aims to attract $15 billion in foreign direct investment for 2024-2025.
- The government has launched multiple development projects across various governorates, with a focus on infrastructure and housing.
- Egypt is strengthening partnerships with international financial institutions like the BRICS New Development Bank to support sustainable development.
