President Abdel Fattah Al-Sisi on Wednesday declared that Egypt is committed to empowering the private sector as the primary engine of national growth, inviting global investors to capitalise on a reformed business climate during a high-profile session at the World Economic Forum (WEF).
“Egypt has prioritised strengthening the role of the private sector as a principal and indispensable partner in the journey of growth and economic development,” Al-Sisi said. He detailed a strategy involving a cap on government investments and a “well-studied plan” for the state to exit specific sectors to allow for private expansion. Addressing an audience of world leaders and international executives, Al-Sisi emphasised that Egypt is moving forward with its State Ownership Policy Document, which defines the roles of state-owned enterprises and outlines a government programme for divestment and public offerings aimed at doubling the private sector’s contribution to the economy.
The president noted that these structural reforms, coupled with disciplined fiscal and monetary policies, have already led to a noticeable improvement in economic performance. He cited rising growth rates, increased private investment flows, and recent credit rating upgrades as evidence of restored investor confidence. Al-Sisi further argued that investors choosing to work in Egypt gain access to a broader horizon through a network of free trade agreements across African and Arab markets, rather than just the domestic market.
The Egyptian leader identified several high-priority sectors for international partnership, including new and renewable energy, the automotive industry with a focus on electric vehicles, pharmaceuticals, and artificial intelligence applications. He urged attendees to utilise Egypt’s modernised infrastructure—encompassing roads, ports, and digital networks—alongside strategic hubs like the Suez Canal Economic Zone to facilitate regional and international expansion.
During an interactive dialogue following his speech, Al-Sisi also touched on the geopolitical environment, stressing that regional stability is a prerequisite for economic prosperity. He reiterated Egypt’s call for a just settlement of the Palestinian issue based on a two-state solution, while praising recent US-led efforts toward a ceasefire in Gaza as a pivotal step for regional de-escalation. Børge Brende, President of the World Economic Forum, lauded the extended cooperation between the Egyptian government and the forum, announcing that a special business session dedicated to Egypt would be organised later this year under Al-Sisi’s patronage to further explore investment opportunities.
