Foreign direct investments (FDI) could grow by 20-25% in fiscal year 2018-19 only if its hits this year’s USD 10 bn target, Finance Minister Amr El Garhy tells Bloomberg.

“As investors see that things are improving in Egypt and that there’s no fatigue in economic reform, I think we’ll see more and more people coming,” he says, adding that “it’s a win-win situation, investors need to come Egypt to make good returns and the country needs to make use of that as well, in terms of hiring people, labor, and reducing the unemployment rate.”

According to El Garhy, multinational companies are looking at Egypt as a hub for exports into other Middle Eastern and African markets.

“Egypt is fighting day in and say out” to set the legislative and structural reforms in order to ease the process out for investors, such as land availability and allocation, as well as the issuing of licenses and permits.