General Authority for Investment and Free Zones
GAFI’s president stressed that the authority is keen to cooperate with HSBC to attract, introduce, and connect more international investors to the growing business opportunities in Egypt
During the meeting, the focus was on establishing cooperation mechanisms that would facilitate seamless economic integration
The CEO of GAFI, Hossam Heiba, expressed that the primary objective of this measure is to alleviate the burden on foreign companies by facilitating their access to foreign currency
The requests include several alliances, from European-Gulf alliance, a Chinese alliance, and an Indian alliance with each project valued at $2 billion
These investments include LE 222.2 million being directly invested, while LE 166.3 million has been allocated as indirect investments
The CEO of the group also mentioned that the company has already invested $2.5 billion in Egypt so far
The new “Silver License” will target startups and young companies, helping facilitate these companies’ business activities
The Ministry of Foreign Affairs and the General Authority for Investment and Free Zones (GAFI) collaborated to hold the "Business and Investment Forum" on Thursday.
Heiba, meanwhile, vowed that 80 percent of the problems facing investors will be resolved before June 30.
Sisi made his remarks on Tuesday during the inauguration of a number of projects belonging to the General Authority for Investment and Free Zones (GAFI).
The president inaugurated via video two free zones in Qalyoubia's Benha and Dakahlia's Mit Ghamr that belong to GAFI.
Abdel Wahab made the remarks during a meeting with CEO of Association of German Chambers of Industry and Commerce (DIHK) Martin Wansleben.
Representatives of major Indian companies operating in Egypt attended the meeting.
His call came during a meeting on Sunday with a delegation of the Saudi Real Estate National Committee headed by Muhammad Abdullah Al Murshid.
The GAFI head added that the State developed a strategy for strengthening investment in human cadres, which includes providing training and capacity-building programs.
The investment investments include facilitating the procedures for investors to obtain the lands needed to implement their projects, and setting time plans for the implementation of projects.
These agreements will support the infrastructure, logistics and technology sectors; which work to develop the capabilities of the Egyptian economy.
This came during a meeting Abdel Wahab held with Jordanian Minister of Investment Khairy Amr to explore investment chances and exchange viewpoints on the investment climate in the two countries.
In a statement issued by GAFI on Tuesday, Abdel Wahab asserted GAFI’s keenness on supporting and boosting investment cooperation so that the volume of Belgian investments is up to the depth of bilateral ties.
During the meeting, GAFI CEO Mohamed Abdel Wahab said the authority is currently coordinating with all ministries to make a list of the projects that would benefit from the golden license.
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