According to a statement from the General Authority for Investment and Free Zones (GAFI) in Egypt, Hossam Heiba, president of GAFI, and Tariq Ali Al Ansari, ambassador of Qatar to Egypt, recently held a meeting to discuss enhancing economic and investment cooperation between the two countries. They focused on developing a new strategy and working mechanism to strengthen their collaboration.
The meeting centered around formulating cooperative mechanisms and coordinating with investment stakeholders from both countries. The objective was to achieve economic integration, whether through establishing projects within Egypt or engaging in joint investments in African and emerging markets.
The statement highlighted that this development aligns with the implementation of the African Free Trade Area Agreement and Egypt’s membership in the BRICS Plus group. These factors are expected to bolster Egypt’s trade and investment role in Africa and emerging economies.
During the meeting, Heiba emphasized the ongoing communication with Qatari investors in Egypt and encouraged them to make new investments. He also addressed any challenges they might encounter. Additionally, he highlighted reaching out to major Qatari companies that have expressed interest in investing in Egypt. The aim is to showcase investment opportunities, particularly in sectors such as real estate, information technology, entrepreneurship, and logistics.
Advancements in Egypt’s investment environment
The meeting held by GAFI showcased the major advancements in Egypt’s investment environment, highlighting fresh investment assurances and incentives for investors. The discussions revolved around streamlining land ownership processes, as well as expanding the availability of gold licenses. Additionally, the authority stressed the importance of promoting good governance, transparency, and fair competition within the Egyptian market, along with fostering diverse investment systems.
Furthermore, attention was brought to the provision of comprehensive and competitive packages of benefits and resources tailored to each economic sector. These measures have played a crucial role in driving a notable improvement in the rate of company establishments, signifying a significant shift in the overall economic landscape.
Ongoing collaboration for the Egyptian-Qatari Business Forum
For his part, the Qatari Ambassador acknowledged Egypt’s economic reforms and initiatives, highlighting the trust Qatari investors have in Egypt’s economy.
Furthermore, the Ambassador disclosed ongoing collaboration with Egyptian Government officials to regularly organize the Egyptian-Qatari Business Forum, building upon its achievements from the previous year.
In November 2023, Cairo served as the host city for the Egyptian-Qatari Business Forum. During the event, numerous memorandums of understanding and agreements were signed between Egyptian companies and their Qatari counterparts in various sectors such as food industries, automobiles, real estate, and more.
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