Egypt holds 'Business and Investment Forum' in China attracting 120 participants

CAIRO – 3 September 2023: 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 at the embassy in Beijing, attracting 120 participants representing Chinese companies, financial institutions, banks, and various business communities.

In his speech, GAFI Chairman Hossam Heiba highlighted incentives offered to foreign companies, particularly in the sectors of automotive, home appliances, power generation, green hydrogen, and transfer of technology in any field.

Heiba equally clarified the merits of operating in private business parks and free zones aimed at encouraging exports by providing tax exemptions. He also shed light on the process of registering new companies online, and the infrastructure investors need in the form of seaports, roads, and railways.

The GAFI chairman underscored that Egypt ranked first in Africa in terms of the value of foreign direct investments' inflow in 2022, calling on Chinese companies to expand in the country and seizing the promising opportunities it offers.