Finance Minister: We aim to attract new segments of investors through the Government Offerings program

Mohamed Maait, Minister of Finance, affirmed that the investment climate in Egypt has become more stimulating and attractive. This is due to our strong infrastructure capable of accommodating more productive activities.

Under the strong political will that strongly supports the developmental path, continuous efforts are being made to expand the contributions of the private sector through promising prospects in globally competitive fields that take into account the environmental dimension. This is consistent with the state's direction towards the green transformation by expanding environmentally friendly projects.

He pointed out that the government is making significant efforts to attract more domestic and foreign investments and establish effective partnerships with the private sector through measures, policies, and incentives for investment. These include the State Property Policy document and the Government Offerings program, which we hope will contribute to attracting new segments of investors.

The Minister of Finance added, in his meeting with Engineer Hani Salem Sonbol, CEO of International Islamic Trade Finance Corporation and Acting CEO of the Islamic Corporation for the Development of the Private Sector, that we are following a flexible path in managing the state's public finances, enabling us to absorb internal and external shocks resulting from consecutive global crises and meet the basic needs of citizens without compromising the requirements of a safe economic path based on increasing the efficiency of public spending, achieving financial discipline, and maintaining the initial surplus.

He also indicated that we look forward to enhancing cooperation with International Islamic Trade Finance Corporation in developing the financing system by utilizing all possible types of Sukuk (Islamic bonds) in the next stage.

Maait clarified that we support efforts to facilitate trade movement by optimally employing modern technology to simplify and automate customs procedures, contributing to reducing customs clearance time and consequently minimizing the cost of goods and services as much as possible, amidst unprecedented challenges facing the global economy.

In this context, Sonbol said that we are ready to provide all possible support to Egypt, in line with the increasing activities in its developmental journey. We look forward to participating in financing and investment in climate projects and having a greater presence with the private sector through financing programs, especially in investment projects related to energy, education, and technology.

He expressed his confidence in the financial management path in Egypt, considering the multiple challenges facing emerging economies due to the exceptional conditions experienced by the global economy and the stimulus measures for investment. Sonbol stated, "We are ready to provide all the support for possible investments to develop the Sukuk issuance process in Egypt based on our experience in this field."