Mr. Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI CEO), received a high-level economic delegation from Hong Kong, headed by Mr. Nick Chan, Hong Kong Deputy to the National People's Congress of the People's Republic of China, and Mr. Herman TSE, Head of Business and Professional Services at Invest Hong Kong (InvestHK), along with representatives from various government and private economic institutions in Hong Kong. The meeting aimed to explore investment opportunities in the Egyptian market. The discussions were attended by Ms. Noha Khalil, acting CEO of the Sovereign Fund of Egypt (TSFE), Dr. Moustafa Moharram, CEO of Moharram & Partners (M&P), and representatives from several public and private sector institutions in Egypt interested in investment cooperation with Hong Kong.
Mr. Hossam Heiba stated that investment dialogue with the People's Republic of China and Hong Kong has always been fruitful, as the Hong Kong government views Egypt as a gateway for investment into Africa and the Middle East. For this reason, companies from China and Hong Kong lead the list of countries exporting investment flows from East Asia to Egypt.
GAFI CEO highlighted the latest developments in Egypt's investment environment, most notably the Golden License, which consolidates all the permits companies need for incorporation, construction, and operation in Egypt. He noted that several Chinese companies have already benefited from the Golden License and have begun operations, supplying their products to both the Egyptian market and international markets. He further emphasized that the Egyptian government aims for Egyptian factories to become the primary producers of Chinese brands across Africa and the Middle East.
Mr. Heiba informed the Hong Kong delegation that the Egyptian government announced a package of tax incentives this month aimed at encouraging investment, emphasizing the coordination between fiscal, monetary, and investment policies in the coming years. This aligns with the government's goal of attracting investment for export purposes.
Mr. Nick Chan, Hong Kong Deputy to the National People's Congress of the People's Republic of China, stated that the Chinese business community is interested in investing in several sectors of the Egyptian economy, ranging from infrastructure to artificial intelligence and renewable energy. He also noted that trade and investment cooperation is the best path for the world to recover from pandemics and natural or political crises.
Mr. Herman TSE, Head of Business and Professional Services at InvestHK, emphasized Hong Kong's significant capabilities in distributing investments globally, hosting over 9,000 international companies with branches outside of Hong Kong. He highlighted that Hong Kong is Asia's leading wealth management hub. Additionally, he pointed out that the Hong Kong government has established 34 overseas investment offices worldwide, one of which is located in Cairo, reflecting the strong interest in investing in Egypt.
Ms. Noha Khalil presented the investment partnership opportunities between Egypt's TSFE and InvestHK, focusing on key sectors such as asset management in real estate and hospitality, infrastructure, healthcare, information and communication technology, agriculture, and renewable energy. She emphasized the alignment of investment and development goals between the two governments.
Mr. Mostafa Moharram, CEO of M&P, proposed coordination between the two countries to link the Belt and Road Initiative (BRI Initiative) with the Cairo-to-Cape Town highway, as both initiatives aim to enhance trade and investment flows from East Asia to Southern Africa.
