Egypt's GAFI meets with World Bank officials during preparation of Investment Strategy 2025 - 2030

 CAIRO – 1 December 2024: In the framework of preparing the national comprehensive investment strategy 2025 – 2030, the General Authority for Investment and Free Zones (GAFI) hosted a series of meetings that comprised senior World Bank officials.

The attendees included Lead Economist for Egypt, Yemen and Djibouti Mark Ahern, Head of the Task Force on Private Sector Development Tom Wes, and Senior Investment Policy and Promotion Officer in the Investment Climate unit of the World Bank Group's Trade and Competitiveness Global Harald Jedlicka. That is in addition to representatives of the private sector and governmental bodies.  

The GAFI statement noted that the strategy adopted the World Bank mechanism in classifying sectors into two categories. One is sectors that are ready for promotion, and the other is promising categories.

The former is sectors that secure economic and developmental benefits for the state, in addition to creating jobs and increasing exports. They also achieve large revenues to investors given the market's size, low production costs, reliable infrastructure, and legislations.

The latter are sectors where reforms are needed so they would become more competitive and attractive to investment.

Deputy CEO of GAFI Dalia al-Hawary showcased that the strategy preparation process consisted of an analysis of the foreign investment flow, assessment of the investment climate attractiveness, and dialogue with public and private stakeholders. She added that the strategy is estimated to be complete in a few months.