Egypt hosted the fifth session of the Egyptian-Hungarian Business Forum on Thursday, an event organized by the Ministry of Investment and Foreign Trade. The gathering brought together senior government officials and business leaders from both countries, signaling a renewed commitment to strengthening bilateral economic relations. The forum served as a platform to discuss new opportunities and forge partnerships across multiple sectors.
Minister of Investment and Foreign Trade Hassan El Khatib opened the session by emphasizing the significance of the forum in deepening cooperation between Egypt and Hungary. He described the event as a key step toward unlocking mutual investment prospects and fostering sustainable trade relations. According to El Khatib, the long-term goal is to develop robust alliances that contribute to innovation, job creation, and shared prosperity.
El Khatib noted that Egypt is actively implementing a wide-ranging reform agenda aimed at transforming the country into a regional hub for investment. These reforms, he said, are designed to make Egypt a more attractive destination for foreign capital, particularly in high-growth sectors.
The minister highlighted that Egypt attracted $46.6 billion in foreign direct investment (FDI) in 2024, a figure that reflects growing international confidence in the country’s economic landscape. Building on this momentum, Egypt is targeting $60 billion in FDI by 2030. Additionally, it aims to boost exports to $145 billion and ensure that private sector contributions make up 65 percent of total investments within the same timeframe.
These targets, El Khatib explained, represent a structured roadmap for future development. He stressed that Hungary, known for its technological innovation and specialized industries, is an ideal partner in achieving these objectives. Areas identified for potential collaboration include energy, green economy initiatives, industrial development, digital infrastructure, and healthcare systems.
Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó echoed these sentiments, expressing his country’s commitment to expanding economic ties with Egypt. He noted that both nations are engaged in active negotiations aimed at enhancing cooperation in critical sectors such as energy, agriculture, and water resources. Szijjártó also reported progress on joint projects, including the construction of new power plants in Egypt, which will play a vital role in meeting the country’s growing energy demands.
The forum concluded with a mutual pledge to accelerate joint ventures and facilitate private sector engagement from both sides. As Egypt continues to position itself as a gateway to African markets, and Hungary seeks broader international partnerships, the bilateral relationship appears poised for significant growth.