GAFI CEO: Such a prestigious award is definitely a vote of confidence in the Government of Egypt that succeeded in providing a more favorable and sustainable business environment attracting value-add investments
The General Authority for Investment and Free Zones (GAFI) won the United Nations Award for Excellence in promoting sustainable investment in agribusiness in 2022, as announced by the United Nations Conference on Trade and Development (UNCTAD).
While attending UNCTAD Investment Enterprise and Development Commission 13th session held in Geneva, Switzerland, GAFI CEO, Mohamed Abdel-Wahab, received the award in the presence of Ambassador Dr. Ahmed Ihab Gamal El-Din, Permanent Representative of Egypt to the United Nations and other international organizations in Geneva, and Dr. Ahmed Maghawry, Head of the Egyptian Commercial Office in Geneva.
According to GAFI CEO, this award highlights GAFI's unprecedented achievement. It is a vote of confidence in the Government of Egypt that succeeded in providing a more favorable and sustainable business environment attracting value-add investments, Abdel Wahab pointed out.
Moreover, GAFI CEO said that GAFI's being the winner only reflects its vital role in assisting investors. This role includes drafting policies and laws, providing actual investment opportunities, and overcoming investment-related challenges. It also encompasses a wide range of services provided to the investor starting from corporate incorporation and extending through all project operation phases.
Furthermore, Abdel Wahab explained that this year's award focuses on promoting sustainable investment in agribusinesses conforming to Sustainable Development Goals (SDGs), particularly SDG 2: Zero Hunger. He noted that thanks to GAFI's excellence in facilitating the procedures of the Canal Sugar project, GAFI received the award. That project is a model for an integrated foreign direct investment (FDI) in agribusiness, as it contributes to replacing imports and creating more job opportunities in Upper Egypt, Abdel Wahab remarked.
Finally, GAFI CEO expressed his sincere thanks to UNCTAD, GAFI's strategic partner, and to everyone who contributed to bringing GAFI among the best investment promotion agencies. He stressed that GAFI will always strive for excellence in order to achieve effective cooperation with various regional and international economic institutions and to contribute to realizing Egypt's ambitious sustainable development agenda.
It is worth noting that since 2022 UNCTAD has presented the United Nations Investment Promotion Awards annually to (i) recognize and celebrate the outstanding achievements of the world’s best-practice investment promotion agencies; (ii) make the investment community and general public aware of exceptional contributions by investment promotion agencies to the realization and advancement of national development strategies; and (iii) disseminate best practices and lessons learned in the promotion of FDI for sustainable development.
GAFI was awarded the Excellence Award for its efforts in increasing private sector investments realizing SDGs.
