GAFI Hosts Egypt–Saudi Investment Forum with Participation of Over 70 Leading Companies from Both Nations
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The General Authority for Investment and Free Zones (GAFI) welcomed a prominent delegation of senior officials and business leaders from Egypt and Saudi Arabia for the Egypt–Saudi Investment Forum, attended by nearly 300 representatives of more than 70 more than 70 Egyptian and Saudi companies and economic institutions. Among the participants were GAFI CEO, Mr. Hossam Heiba; H.E. Assistant Minister of Investment and Saudi Investment Promotion Authority (SIPA) CEO, Ibrahim Al-Mubarak; the General Authority for the Suez Canal Economic Zone CEO, Dr. Walid Gamal El-Din; Industrial Development Authority (IDA) CEO, Dr. Nahed Youssef; Chairman of the Saudi-Egyptian Business Council, Mr. Bandar bin Mohammed Al Ameri; Senior Vice Chairman of the Egyptian Federation of Chambers of Commerce, Dr. Hani Mahmoud; Chairman of the Federation of Saudi Chambers of Commerce and Industry, Mr. Hassan Al-Huwaizi; Chairman of the Board of Directors of Administrative Capital for Urban Development, Eng. Khaled Abbas; Head of the Executive Board affiliated to Tourism Development Authority, Dr. Mostafa Mounir; Senior Vice Chairman of the New Urban Communities Authority (NUCA), Eng. Walid Abbas; and nearly 300 representatives from more than 70 Egyptian and Saudi companies and economic institutions.
In his opening address, GAFI CEO Hossam Heiba praised the deep-rooted ties between Egypt and Saudi Arabia, describing their relationship as a benchmark of economic, political, and cultural integration. He stressed the exceptional opportunities for joint investment, given the vast comparative advantages the two nations enjoy.
Mr. Hossam Heiba affirmed the Egyptian government’s commitment to fostering an attractive investment environment through continued infrastructure development and comprehensive incentive measures in fiscal, monetary, and investment policy. He emphasized strong institutional support for foreign investments—especially those from Saudi Arabia, which are seen as a cornerstone of Egypt’s sustainable development. He noted that a specialized “Saudi Investors Unit” has been established within GAFI, which has already resolved 90% of previously reported challenges. He also pointed out that the signing of the mutual investment protection and promotion agreement between the two governments marks a milestone in bilateral economic cooperation.
According to government data, Saudi investments in Egypt over the past two decades have totaled USD 8.9 billion across nearly 8,000 companies—including 42 listed on the Egyptian Stock Exchange, Heiba added.
Looking ahead, Heiba revealed ongoing talks to deepen bilateral collaboration through the creation of joint investment funds, industrial zones, and free economic areas.
He also drew attention to the government’s decree that no new obligations may be imposed on investors without the approval of the Supreme Council of Investment (SCI), chaired by H.E. President Abdel Fattah El-Sisi. Egypt has also introduced the Golden License (an all-inclusive approval) to streamline approval for strategic projects—46 of which have been granted, with a combined value exceeding USD 13 billion, GAFI CEO concluded.
Assistant Minister of Investment and Saudi Investment Promotion Authority (SIPA) CEO, Ibrahim Al-Mubarak emphasized that Egypt and Saudi Arabia are poised to jointly craft a sustainable development model capable of fostering regional prosperity. He pointed out that the bilateral investment protection agreement signed by President Abdel Fattah El-Sisi and His Royal Highness Crown Prince and Prime Minister Mohammed bin Salman has created a new reality for investment cooperation and reaffirmed Saudi Arabia’s role as a leading investment partner to Egypt.
Regarding Egyptian investments in Saudi Arabia, Al-Mubarak announced that SIPA has granted 7,000 investment licenses to Egyptian firms operating in KSA, creating 80,000 jobs. He also highlighted a significant surge in trade relations, with the volume of bilateral trade reaching SAR 60 billion in 2024—an increase of 29% compared to 2023.
Mr. Fayez Al-Shoaibi, Vice Chairman of the Federation of Saudi Chambers of Commerce and Industry, expressed the Saudi business community’s ambition to build new and sustainable partnerships with Egyptian counterparts, focusing on innovation and aligned with the development visions of both governments.
Senior Vice Chairman of the Egyptian Federation of Chambers of Commerce, Dr. Hani Mahmoud, affirmed that the bilateral investment protection agreement, approved by the Egyptian House of Representatives last month, has opened broad avenues for private sector collaboration aimed at expanding investment cooperation in Egypt and across Africa—especially following President El-Sisi’s launch of the African Continental Free Trade Area, which complements Egypt’s free trade agreements that collectively provide access to approximately 3 billion consumers.
Chairman of the Saudi-Egyptian Business Council, Mr. Bandar bin Mohammed Al Ameri, described the forum as a fulfillment of the Saudi business community’s promise to bring the largest Saudi investment delegation ever to Cairo following the signing of the bilateral investment protection agreement. He called on Egyptian businesses to actively participate in Saudi investment promotion events.
Mr. Hamad bin Saleh Al-Rasheed from the Saudi Ministry of Investment showcased the Kingdom’s efforts to stimulate investment, including the establishment of five special economic zones dedicated to the development of non-oil sectors and increasing GDP contributions. These zones specialize in sectors such as cloud computing, logistics, automotive manufacturing, shipbuilding, food processing, mining, and pharmaceuticals. He also highlighted the launch of the Global Supply Chain Resilience Initiative (GSCRI), a strategic national investment initiative aimed at positioning the Kingdom as a regional and global hub for key supply chains in high-impact economic sectors. The initiative complements the Kingdom’s broader efforts to digitize and streamline investment procedures, Al-Rasheed remarked.
Dr. Abdel Khalek Ibrahim, Technical Assistant to the Minister of Housing, presented investment opportunities in Egypt’s real estate sector, which include prime residential, hospitality, service, and logistics zones. Notable areas include those surrounding the Giza Pyramids, the Nile Corniche, and Cairo central and eastern districts. He also announced that the Ministry of Housing will unveil an investment plan for Downtown Cairo later this year.
Dr. Ibrahim also revealed the formation of a dedicated unit within NUCA to facilitate Saudi investor operations. Additionally, plans are underway to establish a joint real estate investment fund and to hold an Egypt–Saudi Real Estate Forum aimed at developing joint real estate portfolios among developers from both countries, he concluded.
Chairman of the Board of Directors of Administrative Capital for Urban Development, Eng. Khaled Abbas, called on the Saudi business community to inject new investments into the New Administrative Capital, describing it as “a dream realized.” The city currently houses 20,000 residents, with a target of 500,000 residents over the next five years. Egyptian government entities have already relocated, bringing with them more than 50,000 civil servants, alongside 10,000 university students and 4,000 school students, Eng. Abbas added.
the General Authority for the Suez Canal Economic Zone CEO, Dr. Walid Gamal El-Din, presented the region’s investment opportunities, highlighting its competitive advantages in terms of strategic location, labor availability, energy access, streamlined investment procedures, and advanced infrastructure.
On her part, IDA CEO, Dr. Nahed Youssef Dr. Nahed Youssef, noted that Egypt's advancement by 11 positions in the UNIDO index of industrial diversification in 2024 reflects the government’s efforts to support manufacturing. She pointed to the formation of an inter-ministerial group for industrial development, which has established direct and continuous communication channels with manufacturers and launched multiple initiatives to support and finance the sector. Furthermore, full jurisdiction over industrial land allocation has been transferred to IDA, streamlining land assignment procedures for investors, she added.
Dr. Youssef presented 152 investment opportunities across 28 industrial sectors—from renewable energy and auto components to food and pharmaceutical manufacturing—encouraging the Saudi business community to explore these offerings.
Head of the Executive Board affiliated to Tourism Development Authority, Dr. Mostafa Mounir, emphasized the exceptional appeal and projected success of tourism investment opportunities, particularly along the Red Sea coast South of Hurghada, which is witnessing a surge in tourist arrivals thanks to its enhanced connection to the national road network. Egypt welcomed 16 million tourists by the end of 2024, he added.
