GAFI CEO emphasizes ongoing communication with Qatari companies in Egypt to encourage them to increase investments, overcome challenges
Hossam Heiba, the CEO of the General Authority for Investment and Free Zones (GAFI), met with Tariq Ali Al-Ansari, Ambassador of Qatar in Cairo, to discuss developing a new strategy and work mechanism that would enhance economic and investment cooperation between the two countries.
The meeting focused on developing cooperation mechanisms between the two parties and coordinating with the authorities concerned with investment to achieve economic integration, whether through establishing projects in Egypt or making joint investments in the African market and emerging markets. This is especially important after the African Free Trade Area Agreement came into force and Egypt joined the BRICS, which is expected to boost the Egyptian trade and investment role in Africa and emerging economies.
The CEO of the Authority stressed the continuous communication with Qatari companies investing in Egypt. The aim is to urge them to increase investments and overcome any challenges they may face. Additionally, communication is taking place with major Qatari companies interested in investing in Egypt to present the investment opportunities available in areas of interest, especially in the real estate, technology, information, entrepreneurship, and logistics sectors.
Heiba reviewed the latest developments in the investment climate in Egypt, the new investment guarantees and incentives provided to investors, the facilitation of land ownership, the expansion of the issuance of the golden licence, the enhancement of governance, transparency and competitive neutrality in the Egyptian market, and the diversity of investment systems, in addition to providing an integrated and competitive package of incentives and facilities for all.
For his part, the Qatari ambassador praised the economic reforms and measures taken by Egypt. He also emphasized the confidence of Qatari investors in the Egyptian economy.
Moreover, Tariq Al-Ansari announced that coordination is taking place with representatives of the Egyptian government to hold the Egyptian-Qatari Economic Investment Forum on a regular basis, after the success of the event in 2023.
Cairo hosted the Egyptian-Qatari Economic Investment Forum in November 2023. The forum witnessed the signing of a number of agreements and memorandums of understanding between Egyptian companies and their Qatari counterparts in the fields of real estate, food industries, and cars.
