In a sweeping move to transform its economic landscape, Egypt has implemented nearly 500 reform measures between May 2022 and December 2024, aiming to unlock private sector potential and drive sustainable economic growth.

According to a new report by the Information and Decision Support Centre (IDSC), reviewed by Prime Minister Mostafa Madbouly, the reforms mark one of the most ambitious policy overhauls in Egypt’s recent history.

The comprehensive reform agenda guided by the State Ownership Policy Document targets six key pillars: monetary policy, competition, industrial development, investment climate, legal frameworks, and state ownership. Notably, 64.6% of reforms focused on supporting the investment and industrial sectors, the backbone of Egypt’s growth aspirations.

In 2024 alone, Egypt executed a staggering 321 reforms, as highlighted by Osama El-Gohary, Assistant to the Prime Minister and Head of IDSC.

Among the most impactful measures was the Central Bank of Egypt’s adoption of a flexible inflation-targeting regime, aiming to bring inflation down to 7% by 2026. Coupled with a more flexible exchange rate, the new monetary stance helped drive foreign direct investment (FDI) to an impressive $46.1 billion in FY 2023/2024, with an additional $14.5 billion in portfolio inflows.

On the industrial front, 134 reforms led to a 14% jump in non-oil exports, reaching $40.8 billion in 2024. The government also sealed 218 new project contracts in industrial zones worth over $5.1 billion, while credit facilities totaling EGP 67.5 billion supported nearly 2,600 businesses, predominantly in industry and agriculture.

Efforts to streamline the business environment included 189 reforms, such as tax incentives and fast-tracked licensing procedures. Egypt issued 46 “golden licenses” to strategic investors and secured a landmark $35 billion agreement with the UAE for the Ras El-Hekma project, a mega-development expected to attract up to $150 billion in total investments.

Further, 128 legal and regulatory reforms enhanced Egypt’s international governance scores, while 24 targeted measures focused on state ownership restructuring. These efforts translated into real results: private sector contribution to GDP rose to 74.8% in FY 2022/2023, and the sector was responsible for over 81% of new jobs in 2023.

The ambitious reform wave has earned global praise from the World Bank, UN ESCWA, McKinsey, and StartUp Blink, cementing Egypt’s image as a rising destination for investment and entrepreneurship.