Egypt's GAFI invites Qatari investors to apply on 'Golden License'

CAIRO – 31 October 2022: The General Authority for Free Zones and Investment (GAFI) held talks with a Qatari business delegation to probe ways of boosting Qatari investment inflows.

The delegation was headed by Sheikh Faisal Bin Qassem Al-Thani, while on the Egyptian side, the companies represented included The Arab Contractors, ElSewedi Electric, and Benya among others operating in the sectors of constructions, energy, and tourism.

The talks were also attended by Banque Misr Chairman Mohamed El Etreby, and representatives of relevant ministries and governmental bodies.

GAFI Chairman Mohamed Abdel Wahab recommended Qatari investors to benefit from the incentives offered by the Egyptian government, especially the recently-launched "Golden License," which is a unified operation permit.

However, the investment has to be the sectors of public facilities, infrastructure, new and renewable energy, transportation and roads, and telecommunications and information technology.  

Abdel Wahab noted that the license would be issued for applicants in three months. He also underscored that investors would be granted a five-year residence, that could be renewed automatically as long as the project is still running.  

On his part, Sheikh Faisal Bin Qassem Al-Thani stated that Qatari investors are keen on pumping more investments into Egypt, particularly in the sectors of healthcare, education, and hospitality, eying opportunities in Delta and Upper Egypt.

The delegation's visit is one of a series of meetings held - in both Egypt and Qatar - between GAFI's chairman on one hand, and representatives of the Qatari business community.