GAFI Chairman, UAE Amb. Discuss Investment Opportunities in Egypt

Mohamed Abdel Wahab, Chairman of the General Authority for Investment and Free Zones (GAFI) met on Thursday with Ambassador of the United Arab Emirates to Egypt Hamad Saeed Al Shamsi to discuss investment opportunities.

During the meeting, the two sides reviewed promising investment opportunities in Egypt, developments in the investment environment, and the most important procedures taken by the authority to facilitate on investors and create a suitable business environment for them.

Abdel-Wahab emphasized the authority's keenness to support Emirati investments in Egypt, praising the success stories of Emirati companies' in Egypt.

Emirati companies invest in various sectors, including exploration, construction, financial services, and communication.

The most prominent Emirati investors in Egypt are Majid Al Futtaim, Dubai Ports, Emaar, Etisalat, and Canal Sugar, which pushed many other Emirati companies and institutions to pump new investments in Egypt.

He pointed out that the success of the economic cooperation strategy between the two countries was reflected in the UAE being ranked first in the Arab world and third in the world among investing countries in Egypt.

He stressed the authority's keenness to increase the pace of cooperation by organizing more promotional events to display investment opportunities in Egypt on the Emirati side.

GAFI Chairman Mohamed Abdel-Wahab during a meeting with UAE Ambassador to Egypt Hamad Saeed Al Shamsi, March 18, 2021. File Photo.

The chairman said that the periodic meetings between the two sides contributed to eliminating all challenges that faced Emirati businessmen in Egypt, and enhanced the opportunities for increasing their investments.

On his part, Al Shamsi praised the development of the investment climate in Egypt, and the increase in the volume of economic cooperation between the two countries, appreciating the effective role played by the authority in facilitating procedures for Emirati companies in Egypt.

He noted that the UAE embassy in Egypt is working to Intensify cooperation during the next stage to attract more investments to Egypt, in light of the attractive investment opportunities.