Heiba: Policy integration and the role of the private sector are essential to achieving Egypt Vision 2030.
The Chief Executive Officer of the General Authority for Investment and Free Zones (GAFI CEO) Mr. Hossam Heiba participated in the proceedings of Hapi’s Journal 7th Annual Conference, titled “Competitiveness of the Egyptian Economy: Countdown to the 2030 Goals” The Conference was held under the auspices of the Ministry of Planning, Economic Development and International Cooperation, the Ministry of Finance, the Ministry of Public Business Sector, and the Financial Regulatory Authority (FRA).
The Conference witnessed high-level participation from government officials and representatives of relevant ministries, including Minister of Planning, Economic Development and International Cooperation Dr. Rania Al-Mashat; Minister of Finance Mr. Ahmed Kouchouk; Minister of Public Business Sector Eng. Mohamed Shimi; and Chairman of the Egyptian Exchange Dr. Islam Azzam. The Executive Director at the International Monetary Fund (IMF) Dr. Mohamed Maait also participated in the proceedings via video conference, alongside businessman Eng. Naguib Sawiris and a distinguished group of seniors from financial and investment institutions and heads of major companies.
The Conference aims to provide an expanded dialogue between the government and the private sector on ways to enhance the competitiveness of the Egyptian economy; review legislative and executive policies and measures supporting improvements to the investment climate; increase market efficiency; and expand the private sector’s contribution to economic activity. This is intended to support sustainable and balanced growth, enhance the national economy’s ability to attract investment and generate employment opportunities, and coincide with the approaching achievement of the targets of Egypt Vision 2030.
Mr. Hossam Heiba stated that the Conference represents a genuine model of productive societal dialogue and embodies an effective partnership between the government and the private sector. He explained that the launch of the Sustainable Development Strategy, Egypt Vision 2030, serves as the overarching framework governing all economic and legislative reform programs, with the aim of providing an attractive and stimulating business environment, enabling the private sector to play its pivotal role in achieving economic growth, increasing exports, creating jobs, and enhancing competitiveness and governance.
Mr. Heiba added that GAFI, the Ministry of International Cooperation, and all relevant ministries and State entities have worked together in recent years to take serious and tangible steps to improve the business climate and support investors. He noted that Egypt has achieved unprecedented positive results in attracting foreign direct investment (FDI), ranking 9th globally among the most attractive destinations for FDI in 2024, while maintaining its position – 1st rank – as the leading investment destination in Africa.
He also pointed to bringing the Investment Dispute Resolution Unit into operation as a rapid-intervention mechanism to address challenges and issue immediate executive decisions, in addition to amending the Executive Regulations of the Investment Law to allow the expansion of existing projects while retaining investment incentives. This was complemented by the establishment of the Golden License Unit for strategic and national projects, with applications now available through electronic submission.
Furthermore, he highlighted the launch of Phase III of the Investment Map, which aims to promote eight priority economic sectors as part of an integrated promotional plan designed to reposition Egypt on the global investment map; support startups and entrepreneurs; and achieve comprehensive and sustainable development led by the private sector.
In closing, GAFI CEO Mr. Hossam Heiba emphasized that the coming phase requires deepening the partnership between the government and the private sector as the main pillar for achieving more sustainable and prosperous investment. He stressed the importance of GAFI’s role in continuing structural reforms, enhancing transparency and equal opportunities, and creating a competitive business environment capable of attracting both local and foreign investment, in support of the goals of Egypt Vision 2030 and in reinforcement of the private sector’s role as a key driver of economic growth and comprehensive development.
