‘And Pharaoh said to Joseph, “I have dreamed a dream and there is no one who can interpret it. And I have heard it said of you that when you hear a dream you can interpret it.”
Pharaoh acknowledges that here is a man who is somewhat different from his magicians and wise men. He does not need to consult books and dream manuals. He has the ability to interpret a dream immediately on hearing it.
“When you hear a dream you can interpret it.” Literally ‘you hear a dream to interpret it.' This use of ‘hear' corresponds to the Egyptian use of sedem - "to hear" meaning "to understand", a meaning which is most clearly shown by its use in the phrase "he hears the speech of Egypt", i.e. "understands the language". This use is found again in Genesis 42:23 where ‘heard' means "understood" their language. So Pharaoh is saying ‘as you hear you understand'.