GAFI hosts Egyptian-British Business Forum to discuss new investments in eco-friendly infrastructure – Dailynewsegypt
The General Authority for Investment and Free Zones (GAFI) recently hosted the Egyptian-British Business Forum, focusing on attracting new British investments in environmentally friendly infrastructure projects. The forum brought together Egyptian and British officials, along with representatives from 30 British firms and major Egyptian companies in the infrastructure sector.
The event featured direct bilateral sessions between British and Egyptian companies and government officials. These sessions aimed to explore partnership and cooperation opportunities, to enhance mutual investment volumes.
Hossam Heiba, GAFI’s CEO, emphasized the importance of eco-friendly infrastructure projects. These projects cover areas such as water management, renewable energy, eco-friendly engineering, construction, and information technology.
The forum aims to increase British investments in Egypt. In the 2022/2023 fiscal year, British investments in Egypt surpassed $2 billion. Aligning British investment goals with Egypt’s development priorities is a key objective.
Walid Gamal El-Din, Chairperson of the Suez Canal Economic Zone, highlighted the zone’s reliance on eco-friendly infrastructure projects. These projects enhance productivity and competitiveness in the area.
The Suez Canal Economic Zone has attracted investments in green hydrogen, green ammonia, and methanol derivatives. British companies are encouraged to invest in green infrastructure, leveraging Egypt’s strategic location and trade agreements.
Ayman Soliman, CEO of the Sovereign Fund of Egypt, pointed out significant investment opportunities in logistics and data centres. Egypt’s industrial power, resources, and global supply chain connections make it an attractive destination.
Khaled Hamza, Director of the EBRD office in Egypt, expressed the bank’s interest in financing infrastructure projects. In 2023, Egypt secured €1.26bn in EBRD funding and investments, reflecting its investment appeal.
Charlie Garnett, Head of Trade and Investment for Egypt and Libya at the British Embassy in Cairo, reaffirmed the strong trade relationship between Egypt and Britain. The trade volume between the two countries reached $2bn, with continued British government support for investors in Egypt.