Egypt has ranked as Africa’s largest recipient of private foreign investment for the fifth consecutive year, Finance Minister Ahmed Kouchouk said.
Speaking at a conference organised by the Egyptian–African Businessmen’s Association in cooperation with e-Tax, Kouchouk said the Egyptian economy has begun to gain strong momentum. He noted that private investment rose by 73% in the 2024/2025 fiscal year, while economic growth continued to improve, exports increased, inflation declined, foreign exchange reserves exceeded $50bn, and foreign direct investment strengthened.
He added that the past fiscal year recorded a strong primary surplus of 3.5% of GDP, stressing that achieving such rapid financial and economic performance would not have been possible without the confidence and strong response of both domestic and foreign private investors.
Kouchouk said international economic experiences vary widely, with each country adopting approaches suited to its own circumstances, needs and priorities. He stressed that economic and fiscal reforms must be based on a clear understanding of both internal and external challenges, as well as citizens’ priorities.
He added that Egypt is ready to share its experience and expertise with sister African countries to enhance the competitiveness of African economies for the benefit of their states and peoples.
The minister said sustainable resource development cannot be achieved without strong and sustained private sector-led economic activity, noting that expanding the economic, productive, export and tax bases creates the fiscal space needed to advance development efforts and reduce debt.
He also highlighted the importance of investing in human capital, describing it as more critical than any other form of investment. “People are the ones who shape the present and the future,” he said, adding that digitalisation alone is not sufficient unless it translates into improved services for businesses and citizens. He also stressed the importance of effective media communication and dialogue with taxpayers, investors and service beneficiaries.
At the same time, Kouchouk said the Egyptian Tax Authority is continuing to develop its operations and simplify procedures within a framework of trust, partnership and support for the business community. He noted that facilitation packages are designed to address challenges raised by taxpayers, improve services and enhance certainty.
According to the minister, the facilitation initiative has contributed to economic improvement and led to a roughly 35% increase in tax revenues without imposing additional burdens on the business community.
He added that the government remains committed to the same economic and fiscal path, noting that indicators from the first half of the current year support this direction. Economic growth reached 5.3% in the first quarter, private investment rose by 40%, and industrial output and exports also increased.
Kouchouk concluded by saying that Egypt’s economic image has improved in international markets, adding that the government is working with the Ministry of Investment to reduce customs clearance times and trade costs, while supporting local manufacturing.
