Counselor Mohamed Abdel Wahab, CEO of the General Authority for Investment and Free Zones (GAFI), inaugurated the Egyptian-Hungarian Business Forum in the Hungarian capital Budapest, in the presence of Engineer Yehia Zaki, Chairman of Suez Canal Economic Zone (SCZone), Mohamed EL Shennawy, the Egyptian ambassador in Hungary, Deputy Minister of Foreign Affairs and Trade of Hungary, CEO of the Hungarian Export Promotion Agency (HEPA), and representatives of more than 50 Hungarian and Egyptian companies. Counselor Mohamed Abdel Wahab reviewed GAFI efforts in creating an environment that attracts investors, and granting companies tax and investment incentives according to the sectors and regions in which they invest, thus contributing to achieving the development goals set by the State. Moreover, Mr. Abdel Wahab stressed the Egyptian government's openness to all proposals of Hungarian investors to increase their investments in Egypt. Mr. Abdel Wahab called on investors from the two States to discuss prospects and opportunities for investment in joint projects that would benefit both States to stimulate real growth and provide job opportunities. He also stressed the importance of serious partnerships with Egyptian companies because of their experience in the Egyptian market and their access to Arab and African markets, and their positive impact on the transfer of knowledge and technology. The attendees discussed steps to stimulate joint investments to reach the expected level that expresses the capabilities of the two States, the size of bilateral relations, and benefit from successful partnerships between the two sides. GAFI also presented, during the forum, a detailed presentation of efforts made to improve the investment climate, including legislation, executive procedures and incentive packages, which open horizons towards promising investment opportunities, which enabled Egypt to top the list of States that attract investment in Africa.
