Cairo – Egypt is actively cultivating closer economic ties with both Türkiye and Saudi Arabia, positioning itself as a key investment hub for regional and international businesses. Recent high-level meetings and agreements signal a concerted effort by Cairo to attract foreign capital and bolster its economic growth, particularly in sectors like industry, manufacturing, logistics, renewable energy, and digital transformation.
Mohamed El-Gawsaky, CEO of the General Authority for Investment and Free Zones (GAFI), emphasized Egypt’s strong and stable investment environment, citing comprehensive economic reforms and streamlined procedures designed to attract foreign investment. He highlighted Egypt’s strategic location, offering access to European, African, and Middle Eastern markets. “Egypt offers a strong and stable investment environment, supported by comprehensive economic reforms and clear policies aimed at streamlining procedures, reducing costs, enhancing transparency and facilitating access to European, African and Middle Eastern markets,” El-Gawsaky stated.
The strengthening of relations with Türkiye was underscored at the Egypt-Türkiye Business Forum, held under the theme “Economic Opportunities for a Strategic Partnership.” The forum, attended by approximately 400 companies from both nations, brought together senior government officials and business leaders to explore avenues for increased collaboration. El-Gawsaky noted the geographic advantages and economic capabilities of both countries, creating opportunities for expanded partnerships and knowledge exchange. He further stated that Egypt is translating positive economic indicators into tangible investment opportunities.
This push for closer ties with Türkiye comes after a period of strained relations, suggesting a renewed commitment to economic cooperation. El-Gawsaky highlighted the role of Egyptian-Turkish relations in supporting Turkish investments within Egypt and fostering industrial and technological integration. GAFI is offering incentives, including the “Golden Licence,” and fast-track measures to address challenges faced by Turkish investors.
The focus on digital transformation is central to Egypt’s strategy, aiming to streamline procedures and accelerate investment projects while ensuring transparency and efficiency. El-Gawsaky stressed that clarity and transparency are foundational to Egypt’s cooperation with its partners, alongside a commitment to sustainable development through collaboration. This approach, he explained, is designed to generate genuine investment opportunities and support shared economic growth.
Alongside the focus on Türkiye, Egypt has also significantly deepened its economic relationship with Saudi Arabia. , it was confirmed that 14 agreements worth $7.7 billion have been signed between the two countries across various investment fields. Details of these agreements were not immediately available, but the scale of the investment signals a strong vote of confidence in Egypt’s economic prospects.
Adel Lamie, board member of the Egyptian Businessmen’s Association and co-chair of the Egypt-Türkiye Business Council, echoed the sentiment of optimism, describing the recent forum as a “real opportunity to launch new economic partnerships.” He stressed the importance of a forward-looking, development-oriented vision based on integration to boost trade and investment flows, anticipating increased trade in both directions. “The forum represents a real opportunity to launch new economic partnerships and reflects the strength of bilateral economic relations,” Lamie said.
These developments are occurring within a broader context of economic reform in Egypt, aimed at attracting foreign direct investment (FDI) and diversifying the economy. The government, led by the Ministry of Investment and Foreign Trade and GAFI, is actively working to create a stable and attractive investment climate. The recent initiatives demonstrate a proactive approach to fostering dialogue between government institutions and the business community, opening direct channels of communication to support mutual investments and shared interests.
nine companies – from China and Türkiye – are set to invest $41.6 million in the Ismailia Free Zone, according to recent reports. This investment further underscores Egypt’s appeal as a strategic location for businesses seeking to expand their operations in the region. The Ismailia Free Zone offers a range of incentives, including tax breaks and streamlined customs procedures, making it an attractive destination for foreign investors.
Beyond these specific agreements, French multinational Schneider Electric is also reportedly considering expanding its investment footprint in Egypt. This potential investment highlights the growing interest from European companies in Egypt’s market. The company’s expansion plans are likely focused on the energy and infrastructure sectors, aligning with Egypt’s broader development goals.
Egypt’s strategy appears to be focused on leveraging its geographic position and improving its investment climate to become a regional hub for production and trade. The emphasis on digital transformation, coupled with the pursuit of strategic partnerships with key regional players like Türkiye and Saudi Arabia, suggests a long-term vision for sustainable economic growth. The success of these initiatives will be crucial for Egypt’s economic future, offering potential benefits for both domestic businesses and foreign investors.
