Washington: Minister of Investment and Foreign Trade Mohamed Farid Saleh emphasized that digital transformation is a strategic necessity for the growth of Egypt's insurance sector, pointing to the need for a stronger private sector role in supporting structural reforms and improving market efficiency.

According to State Information Service Egypt, this came during the minister's meeting in Washington with Amanda Horan, Vice President and Head of Government Relations at MetLife, where they discussed boosting joint investments and expanding in Egypt, particularly in digital insurance.

The minister said the government is working to create a supportive regulatory environment by enabling tools such as e-KYC and electronic signatures to expand access and improve service quality. He also highlighted the importance of involving insurance companies in the universal health insurance system.

For her part, Horan expressed optimism about Egypt's investment climate and confirmed MetLife's interest in expanding in the Egyptian market and exploring opportunities in the insurance sector.

The minister concluded by reaffirming the government's keenness to attract foreign investments that bring technology and expertise to strengthen the local market.