The General Authority for Investment and Free Zones (GAFI) hosted Switzerland-Egypt Business Meeting, attended by Mr. Yasser Abbas, Deputy CEO of GAFI; Commercial Minister Plenipotentiary, Ms. Noha Kamal, Head of the European Affairs Department at the Commercial Representation Authority; Eng. Kamal Abdel Malek, President of the board of the Swiss Chamber of Commerce in Egypt; and Mr. Vincent Subilia, Head of the Swiss Delegation and Director General of the Geneva Chamber of Commerce, Industry, and Services (CCIG).
At the outset, Mr. Yasser Abbas affirmed that Swiss goods and services enjoy wide recognition and strong credibility in the Egyptian market. He emphasized that the Egyptian government seeks to transform this mutual respect into a deep and lasting partnership by expanding Swiss investments in Egypt, in support of the objectives of Egypt’s Vision 2030—namely job creation, technology localization, and expanding export-oriented production.
Mr. Abbas reviewed Egypt’s economic reforms over recent years, highlighting the establishment of robust infrastructure that now provides investors with reliable access to energy, highways, and digital infrastructure. He also noted Egypt’s progress in introducing sector-specific investment incentives and streamlining investment and operational procedures, all of which have culminated in Egypt ranking 9th globally in 2024 among the world’s top investment destinations, according to UNCTAD, with net FDI inflows reaching $46.1 billion. He added that these reforms have had a tangible impact on Swiss investments in Egypt, which have reached approximately $4.9 billion.
Mr. Abbas concluded by inviting the Swiss delegation to visit Egypt’s free zones, investment zones, and technological zones to get an insight into the wide array of investment opportunities available across the country.
Commercial Minister Plenipotentiary, Ms. Noha Kamal, Head of the European Affairs Department at the Commercial Representation Authority, said that the Switzerland Egypt Business meeting provided a distinguished platform for deepening trade and investment cooperation between the two countries, noting that the current fluctuations in global trade call for expansion of cooperation.
Ms. Noha Kamal announced that annual bilateral trade between Egypt and Switzerland has exceeded $1 billion, calling on the Swiss side to inject new investments into the Egyptian market to enable Swiss goods to reach markets linked by trade agreements with Egypt, whose population reaches 3 billion consumers.
Mr. Vincent Subilia, head of the Swiss delegation, emphasized that his visit to Egypt allowed him to observe the tremendous development in its economic environment, including supportive infrastructure and facilitating procedures. This explains the improvement in Egypt's contribution to the global economy in recent years.
For his part, Mr. Kamal Abdel Malek, President of the board of the Swiss Chamber of Commerce in Egypt, reviewed the success stories of Swiss companies in Egypt, particularly in the pharmaceutical, food, agricultural, and textile sectors, and clothing sectors. Egypt hosts more than 400 Swiss projects, generating revenues of $1.6 billion annually and providing more than 10,000 job opportunities. He highlighted the sustainability of Swiss investments in Egypt, with two-thirds of Swiss companies operating in Egypt for over 25 years. He expected Swiss investment presence in Egypt to increase in the coming years.
At the end, bilateral meetings were held between Swiss companies interested in investing in Egypt and their Egyptian counterparts, paving the way for bilateral partnerships in the pharmaceutical, renewable energy, transportation, logistics, and scientific research sectors.
