The Media Center of the Council of Ministers announced a major achievement for Egypt in the field of economic openness, as the country increased five centers in a report by the Agency Fitch.It is ranked 51st globally out of 202 countries, reflecting positive change since last June.
This indicator measures the openness of the Egyptian economy to foreign investments and international trade, and takes into account important factors such as the volume of imports, exports and FDI flows relative to GDP.
Fitch notes that markets with a more conducive investment environment reflect better results in this ranking. The report emphasizes that investment will remain the main focus of Egypt’s economic growth, with expectations of a gradual increase in foreign investment thanks to a solid industrial base and a diversification of commercial products.
Facilitating the investment environment
The agency also praised the measures taken by the Egyptian government to facilitate the investment environment, including the establishment of the Supreme Council for Investment and the application of the golden license system, which are important steps to improve the business climate and raise the classification of Egypt as an investment destination.
This progress coincides with the National Economic Development Narrative, which aims to raise private investment to 11.9% of GDP by 2029/2030 compared to 5% in 2023/2024, in addition to increasing merchandise exports to $100 billion, compared to $32.5 billion in the same period.
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