GAFI acting to ease obstacles hindering completion of projects

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Wed, 29 Jul 2020 - 01:54 GMT

FILE - General Authority for Investment and Free Zones (GAFI)

FILE - General Authority for Investment and Free Zones (GAFI)

CAIRO - 29 July 2020: The General Authority for Free Zones and Investment (GAFI) acts to ease obstacles that might hinder on-time completion of projects in Egypt, said CEO Mohamed Abdel Wahab Wednesday. 


Speaking during a meeting with Director General of Lekela Egypt Faisal Issa, Abdel Wahab stressed the importance of measures taken by the government to improve the investment climate. 



He spoke highly of legislative and institutional reforms, which resulted in an upgrade of the Egyptian economy. 



The government is currently acting to boost competitiveness of the Egyptian economy and improve productivity, Abdel Wahab added. 



He touched upon Egypt's important location, which serves as a gate to Africa, noting this has made the country more attractive to investors over the past years. 



Issa, for his part, said that Lekela Egypt seeks to maximize its investments in the Arab country in the coming stage. 


This is part of a plan to invest an additional 500 megawatts in Egypt, he added. 



Issa put the total value of Lekela's projects in Egypt at about $350 million.

 

One such project is a 250MW "West Bakr" wind farm in the city of Ras Ghareb, he said.

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