A comprehensive program for the restructuring of Egypt's economic, monetary and fiscal policies was presented by the Minister of Investment and Foreign Trade, Hassan El-Khatib. It was during a meeting with a delegation from Moody's ratings, including Matt Robinson, Associate CEO of Sovereign Risk, and Alexander Perjessy, Vice President and Chief Risk Officer.

Egypt currently attracts an average of 12 billion dollars in foreign direct investment (FDI) per year and has the capacity to double this amount thanks to ongoing structural reforms, according to the minister. According to the latter, recent decisions have allowed a tangible improvement in net foreign assets and foreign exchange reserves, which have reached unprecedented levels. He added that the government has adopted a strategic and realistic approach to pricing for energy and subsidy management in order to correct distortions economic and to control inflationary pressures.

With regard to fiscal policy, the minister has reported that a fundamental change in coordination with the Ministry Finances in order to simplify the tax system. Tax revenue has increased by 35% over the past year — the highest rate since 2005 —, an increase that the minister attributed to a new relationship of trust with the private sector.

The minister identified five strategic pillars for Egypt's future growth. It's about including: renewable energies and data centers; semiconductors and high-tech manufacturing; infrastructures; efficient operational models; and artificial intelligence. He also emphasized the essential role of tourism, with the development of a new road map for investments on the North Coast and the Red Sea to increase capacity hotelier.