Egypt plans to establish a sovereign-backed industrial investment fund focused on strengthening manufacturing, attracting long-term institutional capital and increasing exports, Investment and Foreign Trade Minister Mohamed Farid said during a meeting with Prime Minister Mostafa Madbouly.
The fund will target machinery, low-voltage electric vehicle batteries, pharmaceuticals, packaging and phosphate fertilizers. The initiative is part of Egypt’s wider effort to localize industrial production, increase foreign currency earnings and improve its trade balance, according to the announcement.
The ministry is also preparing a separate fund to support the expansion of Egyptian private-sector companies across Africa. It aims to help close financing gaps and attract local and international investors as companies enter African markets.
A new National Initiative to Enhance Exports from Governorates will assess companies’ export readiness and help them meet international market requirements. Governorates will be selected based on industrial activity, logistics connectivity, export potential and the local regulatory environment.
Other planned measures include a digital platform for collecting corporate financial statements to improve economic data, an Investor Care platform for investor complaints, and an electronic trade remedies platform to support Egyptian exporters. The ministry said 69% of previously submitted complaints have been resolved.
Source: Fast Company Middle East
