GAFI Deepens Cooperation with Siemens, GACIC to Encourage Investment

The General Authority for Investment and Free Zones (GAFI) agreed to continuously activate communication channels with the German business community to discuss ways of cooperation in attracting more German investments to Egypt.

This came during a meeting between Executive Director of GAFI  Mohamed Abdel-Wahab with Emad Ghaly, Managing Director of Siemens Egypt and head of the German-Arab Chamber of Industry and Commerce (GACIC).

Abdel-Wahab stressed Egypt's interest in strengthening cooperation in small and medium-sized enterprises (SMEs) that play an effective role in the German economy, and discussed ways to attract more German investments to Egypt.

He affirmed Egypt's commitment to support all German companies investing or wishing to invest in Egypt during the coming period.

Abdel-Wahab explained that the authority would organize a virtual meeting with the GACIC next month, which would witness the participation of about 120 German companies to discuss the latest economic developments and explore investment opportunities in Egypt.

The meeting dealt with new measures undertaken by the authority to ensure an investment friendly environment, such as the provision of online services and the adoption of electronic signatures.