Posted on: Saturday, May 13, 2023 – 1:05 PM | Last update: Saturday 13 May 2023 – 1:05 PM
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 its current investments, according to today’s statement.
This came on the sidelines of the activities of the annual investment forum “AIM2023″ in its twelfth edition, under the patronage of His Highness Sheikh Khalid bin Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Executive Council of the Emirate of Abu Dhabi, which was held from May 8 to 10, under the slogan ” Transformation in Investment Aspects: Future Investment Opportunities to Promote Sustainable Economic Growth, Diversification and Prosperity”, and receiving the prize for winning the Authority for attracting the best project in North Africa and the Middle East.
The CEO of the Authority met with representatives of a number of companies, official bodies and organizations, including: Afco Company, OAcis Services Company, Abu Dhabi Capital Group, Aqua Fun Company, Ras Al Khaimah Chamber of Commerce and Industry, Fujairah Free Zone, Chalhoub Group, Al Rabie Company, and WIPA.
During the meetings, the Chairman of the Investment Authority discussed aspects of joint cooperation and investment opportunities in Egypt, ways to enhance joint economic cooperation with investors in Ras Al Khaimah and Fujairah and activate cooperation through economic integration projects between Egypt and the UAE and oil storage projects.
-A number of factories were visited inside the free zone, and the two sides agreed to organize an Egyptian-Emirati forum, and a visit of a delegation from the Chamber and the free zone to Egypt during the coming period.
-The meeting dealt with representatives of companies to identify their plans to invest in Egypt or their expansion plans. The meetings witnessed a review of the most important developments in the investment climate in Egypt, the most important economic indicators, and the measures taken by the government. With the aim of creating a business environment in Egypt, the most important of which is: Establishing a golden license unit to grant a golden license to companies establishing strategic or national projects that contribute to achieving development, and providing and allocating lands to investors in the field of industry.
A governmental committee was formed to facilitate its procedures and develop the 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.
He reviewed “Prestige”, the offering program for government companies to list a number of state-owned companies on the Egyptian Stock Exchange. With the aim of revitalizing the capital markets, emphasizing the government’s interest in solving challenges related to the exchange rate and transferring profits abroad, and establishing a unit in the Council of Ministers whose mission is to work to quickly solve investors’ challenges, and to continuously update the 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”, “Quality of Foreign Direct Investment: Attracting Meaningful Investments for Economic Growth”, and “Digital Transformation of Financial Sectors in the Arab World and the Role of Technology”. Finance in Economic Diversification”, and “Developing the Foreign Direct Investment Climate, 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.
