Dr. Dalia El-Hawary, GAFI Deputy CEO, delivered a keynote speech at the Renewable Energy Conference held on the sidelines of the Egypt Energy Show (EGYPES). In her speech, she outlined GAFI's efforts to support the shift of the Egyptian economy towards clean energy, emphasizing the state's commitment to achieving sustainable development and fostering innovation. Dr. Dalia El-Hawary explained that GAFI has taken strategic steps to attract investments in the renewable energy sector, including offering investment incentives of up to 50% of the investment costs for new projects or their expansions in this sector, in accordance with Article (11) of the Investment Law.
GAFI also works, under Article (15) of the Law, to encourage companies to enhance their social responsibility through activities that include recycling waste, using renewable energy, reducing carbon emissions, and implementing climate change adaptation projects.
Dr. Dahlia confirmed that the Egyptian government has granted Golden Licenses to four projects in the renewable energy sector, out of 38 projects that have received this license so far. The Golden License is a comprehensive approval that includes all the necessary permits and licenses for the establishment, operation, and management of projects, which contributes to accelerating the pace of investment.
Dr. Dahlia also discussed the strategy of GAFI, which focuses on encouraging sustainable investment and creating an attractive investment environment. She highlighted the institutional efforts made to achieve these goals, including:
Establishing two central departments for corporate social responsibility and entrepreneurship.
Adopting a new guiding model for international investment agreements that links investment to achieving sustainable development goals.
Building strategic partnerships with international institutions to exchange expertise and best practices in the field of sustainability.
Dr. Dalia El-Hawary emphasized that GAFI serves as the head of the National Contact Point for the Organization for Economic Co-operation and Development (OECD), working to promote responsible business conduct among multinational companies. She noted that GAFI regularly organizes training sessions and workshops to raise awareness on environmental issues.
Additionally, Dr. El-Hawary pointed out the international recognition of GAFI's efforts, as it occupied the first place in the 2023 "Environmental, Social, and Governance (ESG) Practices Index" among 74 global investment agencies, as reported by the World Association of Investment Promotion Agencies (WAIPA). GAFI received the Award for Excellence in Promoting Sustainable Investment in Agribusiness from the United Nations Conference on Trade and Development (UNCTAD).
She concluded her speech by reaffirming GAFI's commitment to supporting the transition to clean energy and strengthening Egypt's position as a leading investment destination in this vital sector.
