The Egyptian government announced the enhancement of its efforts to attract foreign direct investment by offering new investment opportunities in the tourism and antiquities sectors, as part of a comprehensive plan aimed at developing the national economy and achieving the goals of Egypt’s Vision 2030 for sustainable development.
This announcement was made during a high-level strategic meeting chaired by Egyptian Prime Minister Mostafa Madbouly at the government headquarters in the New Administrative Capital, to follow up on the efforts of the Ministries of Tourism and Investment in this context.
During the meeting, Madbouly emphasized that the government is working on “formulating clear plans with specific objectives to present investment opportunities across various sectors, thereby contributing to an increase in foreign direct investment.”
He noted that one of the primary goals of these plans is to attract approximately 30 million tourists annually by 2028, with an annual increase in tourist arrivals ranging between 25% and 30%, in line with the state’s vision to strengthen Egypt’s position as a global tourism destination.
For his part, Tourism Minister Sherif Fathy announced the establishment of a specialized unit to monitor investment opportunities, with the aim of creating an “investment opportunities bank” that includes available projects in the tourism sector, supporting the achievement of the targeted developmental goals.
The minister added that 2024 witnessed an increase in hotel capacity with the addition of 7,200 new hotel rooms, 55% of which came from new projects. He anticipated that 2025 would see the addition of approximately 19,000 more hotel rooms, either through new projects or expansions of existing ones.
Fathy also reviewed the targeted investments in the restoration and maintenance of antiquities, noting that the Supreme Council of Antiquities had completed an average of 36 projects annually in this field over the past five years. Future plans included distributing investments across several governorates between 2025 and 2031, with a focus on developing hotels, restaurants, parks, and land tours, in addition to investing in archaeological sites, establishing museums in partnership with the private sector, and improving services at heritage sites.
In the same context, Minister of Investment and Foreign Trade Hassan El-Khatib stated that the upcoming phase would involve holding bilateral coordination meetings between his ministry and relevant ministries to highlight the strengths of each sector, available investment opportunities, proposed projects, and challenges facing the attraction of investments.
He further explained that comprehensive sectoral studies would be conducted, and joint task forces would be formed between the Ministry of Investment and Foreign Trade and each relevant ministry. Periodic reports would be submitted to the Council of Ministers to monitor the progress of implementing the sectoral investment strategy and achievement rates.
