Direct engagement with investors is core priority: Investment Minister
Hassan El-Khatib, Minister of Investment and Foreign Trade, held an expanded meeting with investors in Luxor, attended by Governor Abdel Mottaleb Amara, as part of the minister’s current tour of the Luxor and Qena governorates. The meeting was also attended by Mohamed El-Goski, CEO of the General Authority for Investment and Free Zones (GAFI), alongside senior officials from the Ministry of Investment and Foreign Trade.
El-Khatib said the state’s vision prioritises increasing investment in the governorates to stimulate local growth rates and create job opportunities for citizens. He stressed the importance of listening directly to investors’ views and understanding the challenges they face, noting that maintaining continuous, on-the-ground engagement with investors is a central pillar of the ministry’s approach.
For his part, Luxor Governor Abdel Mottaleb Amara said the governorate is working on several key investment files, foremost among them tourism, with a number of hotel and tourism projects currently under construction. He added that Luxor also offers promising opportunities in agriculture and agro-processing, particularly in the desert hinterland, in addition to other investment sectors.
During the meeting, available investment opportunities in the governorate were reviewed, highlighting the main sectors open to investment, including tourism, agriculture, education and other fields. An investment opportunities guide has been prepared for Luxor, and unused land and state-owned assets have been identified, including 25 unutilised assets to be offered to investors.
The presentation outlined 47 investment opportunities across the governorate, some of which have already been contracted, while others are in the process of preparation. These include six opportunities already awarded, 16 opportunities expected to be offered during the current month, 12 additional opportunities to be allocated under the governor’s authority, and 13 opportunities currently under study in coordination with the relevant entities.
El-Khatib also listened to interventions from local investors, who outlined their activities in sectors such as tourism, education and agriculture, and highlighted a number of challenges they face.
In response, the minister affirmed that the current Investment Law provides a comprehensive package of incentives designed to encourage investment. He noted that all Upper Egypt governorates fall within “Zone A” under the law and therefore benefit from the incentives stipulated for the most in-need areas.
He explained that Zone A incentives allow investors to deduct up to 50% of investment costs from taxable profits, subject to a cap of 80% of paid-up capital, for eligible projects.
El-Khatib added that the tourism sector is among the priority sectors receiving strong state support, noting that an integrated investment map will be prepared for tourism opportunities, with prior approvals secured from all relevant authorities to facilitate and accelerate project implementation.
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