GAFI CEO outlines ambitious investment reforms at Egypt-EU Investment Conference – Dailynewsegypt
At the Egypt-EU Investment Conference, Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), unveiled a comprehensive package of reforms aimed at transforming Egypt into a regional investment hub, particularly for European investors.
During a panel discussion titled “Transforming Egypt: Strategic Reforms for A Nearshoring Hub,” Heiba outlined key measures such as the expansion of free zones and investment areas, the introduction of the Golden License system to expedite project approvals and the development of a unified electronic platform for company establishment. These reforms reflect Egypt’s commitment to creating a more efficient and investor-friendly business climate.
“Egypt, with its strategic location, young workforce, and developed infrastructure, offers promising opportunities for European companies in various sectors such as renewable energy, textiles, information technology, automotive, pharmaceuticals, and food processing,” Heiba emphasized.
The government has also approved investment incentives for targeted sectors of interest to EU investors, including green hydrogen and the automotive industry. These reforms are expected to enhance Egypt’s attractiveness and open new avenues for economic cooperation between Egypt and the EU.
Heiba further stressed GAFI’s eagerness to strengthen investment cooperation with European partners and provide full support to the European business community.
He highlighted the exceptional advantages offered by the Suez Canal, Egypt’s trade agreements with regional blocs, and the country’s potential role within EU supply chains.
The panel discussion also included insights from Gert Jan Koopman, Director General at the European Commission, Susan M. Lund, Vice President at the International Finance Corporation, Mary Beth Goodman, Deputy Secretary-General of the Organisation for Economic Co-operation and Development, and CEOs Ahmed Elsewedy (Elsewedy Electric) and Aiman Ezzat (Capgemini).