Madbouly inaugurates 1st forum of African investment promotion agencies

Prime Minister Mostafa Madbouly is inaugurating, on Friday, the first forum of the heads of African investment promotion agencies (IPAs) organized by the General Agency for Investment (GAFI) under the auspices of the Cabinet, from June 11 to 14 in Sharm El-Sheikh, in the presence of ministers and heads of investment agencies of 34 African countries, in addition to Representatives of major institutions and economic blocs.

The forum is held under the slogan "Integration for Growth", as the participants in the forum will work on joint coordination and strengthening integration among African investment agencies to qualify the countries of the continent to be a stable and attractive destination for foreign direct investment and to be able to successfully operate investment projects in Africa, achieve economic persification, optimize the use of vast natural resources, and enhance the competitiveness of the economies, leading to an increase in the flow of non-African investments and intra-African investments among the countries of the continent.

During the forum, a number of memoranda of understanding will be signed between the General Authority for Investment and its counterparts from investment promotion agencies, with the aim of strengthening bilateral investment relations and developing mutual cooperation between Egypt and its African counterparts.