Written by Muhammad Asaad
Saturday, May 13, 2023 11:14 AM
Hossam Haiba, CEO of the General Authority for Investment and Free Zones, met with a number of investment organizations and entities and a group of Emirati companies to discuss investing in Egypt or expanding their current investments, on the sidelines of the annual investment forum AIM2023 in its twelfth edition, held under the patronage of His Highness Sheikh Khaled bin Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Executive Council of the Emirate of Abu Dhabi, during the period from May 8 to 10, 2023, under the slogan “Transformation in Investment Aspects: Future Investment Opportunities to Promote Sustainable Economic Growth, Diversity and Prosperity” and receiving the award for the Authority’s victory in attracting the best project in North Africa and the Middle East region.
The CEO of the Authority met with representatives of a number of companies, official bodies and organizations, including:
Avco Company
– OAcis Services Company
Abu Dhabi Capital Group
– Aqua Fun Company
Ras Al Khaimah Chamber of Commerce and Industry
Fujairah Free Zone
Chalhoub Group
Spring Company
WIPAA
--– UNCTAD
World Economic Forum
– Moscow Agency for Innovations
Dubai FDI
During those meetings, aspects of joint cooperation were discussed and investment opportunities in Egypt were discussed, as well as ways to enhance joint economic cooperation with investors in the emirates of Ras Al Khaimah and Fujairah, and to activate cooperation through economic integration projects between Egypt and the UAE and oil storage projects. A number of factories within the free zone were also visited, and it was agreed The two sides agreed to organize an Egyptian-Emirati forum, as well as a visit of a delegation from the Chamber and the Free Zone to Egypt during the coming period.
The meeting also dealt with the representatives of the companies to identify their plans to invest in Egypt or their expansion plans.
Establishing a golden license unit to grant a golden license to companies establishing strategic or national projects that contribute to achieving development. Providing and allocating lands to investors in the field of industry, where a governmental committee was formed to facilitate all its procedures.
As well as the development of infrastructure, as Egypt witnessed during the last period an unprecedented boom in the field of infrastructure, which was prepared to receive huge and diversified investments in a sustainable manner.
In addition to approving the State Ownership Document, which aims to establish a clear and specific regulatory framework to enhance the participation of the private sector, in addition to the offering program for government companies to list a number of state-owned companies in the Egyptian Stock Exchange with the aim of stimulating capital markets. Emphasizing the government’s interest in resolving challenges related to the exchange rate and transferring profits abroad. And the establishment of a unit in the Council of Ministers whose mission is to work to quickly solve the challenges of investors
As well as the continuous updating of investment opportunities available on Egypt’s investment map.
The CEO of the Authority participated as a spokesperson in 4 working sessions during the conference under the title (The Road to Global Investment Forum 2023) and (Quality of Foreign Direct Investment: Attracting Feasible Investments for Economic Growth) and (Digital Transformation of Financial Sectors in the Arab World and the Role of Financial Technology in Diversification The Economist) and (Developing the climate for foreign direct investment, and the role of investment promotion agencies), where many inquiries were answered about Egypt’s vision towards creating a business climate environment to attract more foreign direct investment and achieve the goals of sustainable development.
Invest in Egypt, Invest in Egypt, Investment Authority
