Egypt targets $5bn in Indian investments by 2027 through strategic initiatives

Hassan El-Khatib, Minister of Investment and Foreign Trade, emphasised the government’s commitment to fostering a supportive environment for export-oriented investments. He noted that this initiative is part of the state’s broader strategy to drive positive change through a collaborative system involving various government entities and relevant ministries.

During a meeting with the Egyptian-Indian Business Council, El-Khatib highlighted the government’s efforts to address the challenges faced by the Egyptian economy in recent years. He outlined a clear vision to attract more investments by simplifying the investment process and leveraging strong financial policies and the state’s existing assets.

El-Khatib also mentioned ongoing coordination among relevant ministries to prepare comprehensive files on land, energy, and the necessary procedures for establishing projects. These files will be reviewed and presented to the Supreme Council for Investment and other state authorities to remove any obstacles to investment and trade.

Council members discussed the increased trade between Egypt and India, facilitated by official delegation exchanges. They noted the expansion of several Indian companies in Egypt, particularly in critical sectors such as the chemical industry and plastic waste recycling.

Additionally, plans are underway for more Indian companies to enter the Egyptian market in key areas such as renewable energy, green hydrogen, engineering industries, and information and communication technology. The council supports an investment initiative aiming to increase Indian investments in Egypt to $5bn by 2027. They recommended collaborating with the ministry to potentially hold an annual investment conference for Egypt and India.

Council members also highlighted various important industrial sectors in Egypt, including chemicals, fertilizers, pharmaceuticals, leather, glass, automotive, and agro-based industries. They discussed the main challenges facing these sectors and stressed the importance of increasing the number of vocational institutes to train the necessary Egyptian workforce, especially for the engineering and electronics industries.