The government will focus on practical reforms that make it easier to operate and invest in Egypt, newly appointed Investment and Foreign Trade Minister Mohamed Farid said during his first policy remarks at the AmCham Egypt Iftar on Thursday. Farid outlined a reform agenda centered on cutting bureaucracy, digitizing services, improving economic data, and supporting exporters and entrepreneurs, adding that his priority will be to fix everyday bottlenecks rather than unveil new strategies. “We cannot be talking grandiose, we cannot be talking about dreams, without resolving our problems,” he said.

Going digital: “Step one is digitization and facilitating processes,” the new minister told attendees, adding that reforms will first target operational issues affecting companies already on the ground in Egypt. “Anything associated with their corporate actions […] needs to be facilitated and streamlined,” including capital increases and company establishment, Farid noted.

Drawing on his experience leading the Financial Regulatory Authority and the Egyptian Exchange, he recalled how delays in capital increases weighed on listed companies. The moment a capital increase was announced, he explained, the stock price would dive because investors “would not want to wait four months until [they] get the stocks in [their] hands,” adding that investors typically expect to receive their shares within days.

The data gap: The second reform pillar will focus on improving the economic data used in policymaking, including companies’ financial reporting and data collection procedures. Farid highlighted the need to better calculate Egypt’s national saving ratio to determine the level of investment required to support growth. “What you cannot measure, you cannot manage,” he added. He also suggested that Egypt’s FDI statistics may understate actual inflows, noting that “a significant portion of FDI is not only the flows that happen through the banking system, but [also] retained earnings.”

Reducing government intervention is another reform priority. “We need to put ourselves in the backseat a little bit when it comes to corporate actions,” the minister said, adding that authorities should step back from interfering in company valuations and investment decisions unless violations occur. He noted that in some cases, regulators have blocked transactions because they disagreed with valuations proposed by investors. “The investor is taking the risk. Who am I […] to decide that they should not be taking the risk in that regard?”

Digitization will also enable foreign investors to establish companies remotely, Farid said. Authorities are working on systems that would allow investors to verify their identity using electronic passports and digital signatures, without needing to be physically present in Egypt. Under the envisioned framework, “foreign investors don’t even need to notarize a power of attorney document with the public notary here in Egypt because [they will be identified] abroad.”

Effective targeting is key: Beyond administrative reforms, the minister outlined plans to support exporters and industrial players through better trade promotion. Egypt has “significant [prospects] and quite good players when it comes to exporting,” he said, but exporters need more targeted support. The government plans to improve trade promotion tools, exhibitions, and market intelligence to help firms identify growth windows and expand their footprint, he added.

A new fund to close the startup growth-capital gap: The minister announced plans to address financing gaps facing startups and scaling companies. Early-stage funding is already supported by incubators and accelerators, he said, but growth-stage financing remains scarce. “What is missing […] [is] limited partners. This is where you have a serious bottleneck in Egypt.” To address this, the government plans to establish a large co-investment vehicle through the Sovereign Fund of Egypt to invest alongside venture capital firms, Farid said, adding that World Bank Group President Ajay Banga expressed interest in participating.

Implementation over new strategies: Farid emphasized that improving the investment environment will not come from “one big reform” but rather from a “series of small reforms with calculated interventions” implemented over time. The focus now, he added, is execution rather than drafting new policy frameworks. “We have sufficient policies, we have enough strategies, and we have enough charters […] For me, I’m going to do the reforms. That’s the bottom line.”

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