Egypt's GAFI wins 1st place in MENA at AIM 2023 Global Awards for 5th consecutive year

CAIRO – 9 May 2023: The General Authority for Investment and Free Zones (GAFI) won for the fifth year in a row the first place, in the MENA region, in the 12th edition of the Annual Investment Meeting (AIM 2023) Global Awards held in Abu Dhabi on May 8-10, for attracting VIVO Communication Technology Co. Ltd. to operate in Egypt.

In a similar context, GAFI Chairman Hossam Heiba attended Monday the signing of an MoU between Benya, Khazna Data Centers, and Maadi Technology Park to establish a high-density data center with a capacity of 25 megawatts and a cost of $250 million, spanning over 40,000 meters.

The signing was attended by UAE Ambassador to Cairo Mariam al-Kaaby who had met the GAFI chairman in February to confer over investment opportunities in Egypt and bolstering economic cooperation.

The GAFI chairman and the Emirati ambassador also discussed establishing partnerships in African markets to capitalize on the trade agreements between Egypt and other states on the continent.

Further, they also agreed on exchanging experience on the management of free zones and business development as well as periodically holding an Egyptian-Emirati Forum to examine investment opportunities. It is noted that the UAE is a partner in the foundation and operation of 1,300 firms in Egypt.