Cairo: Egypt's Minister of Investment and Foreign Trade Hassan El Khatib reaffirmed that the Egyptian government is implementing a comprehensive economic program aimed at building a more resilient, diversified, and competitive economy.

According to State Information Service Egypt, the program is based on an effective partnership with the private sector and seeks to stimulate sustainable growth through deep structural reforms, supported by stable and transparent fiscal and monetary policies that foster a favorable business environment and long-term investor confidence. The minister made the remarks during his current visit to the United States.

During the visit, he met with Jan Friedrich, Managing Director and Head of Sovereign Ratings for Europe, the Middle East, and Africa at Fitch Ratings, and Shelly Shetty, Managing Director and Head of Sovereign Ratings for Asia and the Americas, to discuss developments in the Egyptian economy and the government's efforts to strengthen creditworthiness and improve the country's sovereign rating.

Khatib highlighted that recent reforms to the exchange rate policy introduced genuine market-driven flexibility, accompanied by increased inflows of foreign direct investment. These measures, he said, have helped boost foreign reserves, restore confidence among international institutions, and improve the current account balance, supported by higher non-oil exports, increased Suez Canal revenues, and a rebound in tourism.

He noted that Egypt continues to advance its business environment by accelerating the digital transformation of the investment framework and activating a unified licensing platform. He added that the government is working to reduce the time and cost of establishing companies while introducing more flexible and attractive incentive policies in high-value-added sectors such as industry, tourism, communications, and technology.

The minister reaffirmed the government's commitment to maintaining open dialogue with international credit rating agencies, praising Fitch Ratings for its professional and objective assessment of Egypt's economic performance. He underscored the government's determination to press ahead with structural reforms that enhance competitiveness, strengthen resilience to external shocks, and improve the country's credit profile on a sustainable basis.