Investing in Egypt’s Future: My 3 Takeaways

Earlier this month, I returned to Egypt, a country that warmly welcomed me early in my career when I was working in the energy sector. And I can tell you how much I missed it. Reconnecting with Egyptians from all backgrounds was the highlight of this visit. I also had a chance to participate in the EU-Egypt Investment Conference where I emphasized that investing in Egypt is investing in its people.?

Why? Because when the private sector grows, the economy grows. And when the economy grows, people benefit from more and better jobs. Here are three key insights from my visit:?

1) Egypt is open for business?

Egypt boasts all the essential elements for a compelling investment climate. Both a geographic and trade gateway, Egypt offers strategic advantages coupled with a large and growing youthful workforce and promising potential for green growth. To fully leverage these advantages and create millions of jobs—particularly for youth and women entering the workforce—the country should keep working on an enabling environment for private sector development.? ?

This includes redefining the state's role in the economy and fostering fair competition. Egypt has already begun implementing such policy reforms, bolstered by initiatives like the recent $700 million Development Policy Financing , which we support.?

2) Human capital: Egypt’s cornerstone?

At the heart of Egypt’s development lies its most precious asset: its people. Our steadfast partnership with Egypt has shown that putting people first always pays off. Education, health, and jobs not only drive development, but also economic growth and an inclusive economy. That is why we cannot stop there. There’s still room to invest more and better in human development to transform lives and boost the country.? ?

Because many Egyptians are still going through tough times. In Cairo, I met with beneficiaries of the Takaful and Karama program, which aims to mitigate the impact of macro-economic reforms for the poor and vulnerable. The name of Egypt’s program , “solidarity and dignity” (Takaful and Karama in Arabic), speaks volumes about the importance of this program and its beneficiaries, among them women, people with special needs, and some of the most senior members of local communities.? ?

The stories I heard about being able to send their kids to school, maintain regular health check-ups, or provide for their families were a poignant reminder of the importance of fostering inclusive and sustainable growth for all. ?

3) Empowering women: Catalyst for growth?

This brings me to my third takeaway on how empowering women is pivotal to Egypt’s economic advancement. Breaking down the barriers that women and young people face when accessing the job market, supporting small and medium-sized enterprises, and promoting entrepreneurship –along with improving Egypt’s business environment— is how we can accompany people towards a better future. ? ?

And examples demonstrating that this is possible are numerous. Dina, Mona, Hussein, Laila, Alaa, Ayman, local entrepreneurs I met, can testify to that. They run handbag businesses, tech companies, and waste management start-ups. Their common denominator? All of them had a passion to make their dreams a reality. As part of one of the projects we are supporting, we believed in them and their companies to be a source of growth and job creation, in Egypt and across the region, and they have delivered!? ?

Creating an investment-friendly ecosystem in Egypt is not merely inspirational—it’s achievable. I know that the government and our partners are very intentional about it. Because this ecosystem depends on the ability to create more and better jobs, improve human capital, empower women and young people, and strengthen resilience to shocks. In short: Egypt’s future success.?

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