GAFI CEO Mr. Hossam Heiba and the Chairman of the Board of Directors of the Egyptian Junior Business Association (EJB) Eng. Bassam El-Shanawany signed a memorandum of understanding (MoU) to cooperate in promoting investment locally and internationally, and supporting small and medium-sized enterprises (SMEs) to obtain investment opportunities and utilize such opportunities optimally.
The MoU outlines the provision of support to company founders, especially EJB members from SMEs, and the introduction of youth business associations around the world to the investment opportunities available in Egypt and the services provided by GAFI to investors.
The two parties will organize joint conferences and seminars related to investment and entrepreneurship, whether in Egypt or abroad, in addition to organizing consensus meeting between young Egyptian and foreign businessmen. Moreover, the two entities will organize workshops to raise the business community's awareness of everything related to entrepreneurship, and introduce investors to the most important procedures taken by the government in order to improve the investment climate and environment, and the most important granted incentives in this field. In addition, training opportunities will be provided to develop the skills of entrepreneurs and founders of SMEs, while providing procedural facilities to them.
The two sides will cooperate in updating databases of available investment opportunities, target sectors, and studies on target markets to attract investments, in addition to examining the various products needed by such markets with the aim of increasing the Egyptian exports to them.
Mr. Hossam Heiba stressed the increasing importance of the participation of businessmen associations in promoting investment in Egypt, and the creation of innovative solutions to local and external economic challenges, pointing out that the coming period will witness a boom in the investment promotion process, as a result of the legislative and procedural reforms undertaken by the State, especially with the presence of strong internal and external demand for investment in Egypt. This calls for organizing efforts between the public and private sectors to achieve the best benefit for the Egyptian economy.
GAFI CEO added that the success stories of the companies operating in Egypt are the main attraction for new companies willing to invest, noting that investors are more capable to introduce the investment opportunities and incentives to their counterparts.
Eng. Bassam El-Shanawany stressed EJB readiness to cooperate with GAFI in investment promotion efforts, especially after the serious measures taken by the government to improve the investment environment, this made the Egyptian economy the most attractive among the countries of the region and the African continent.
