As part of the Ministry of Investment and Foreign Trade's efforts to attract investments from key investment and financing markets, and following directives from Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, to inform key international partners about the latest developments in Egypt's investment environment, Eng. Mohamed El-Gawsaky, GAFI CEO, met with Ambassador Eric Chevallier, Ambassador of the French Republic to Cairo, to discuss opportunities for strengthening cooperation between the two countries.
Eng. Mohamed El-Gawsaky emphasized the strength of relations between the two countries, which were reinforced by the historic meeting that brought together President Abdel Fattah El-Sisi and his French counterpart Emmanuel Macron in Cairo last year, noting that economic relations have always been the cornerstone between the two countries, through the direct presence of about 200 French companies in the Egyptian market with total investments of about USD 8 billion.
GAFI CEO reviewed the development of the investment climate in Egypt and the legislative and regulatory reforms that have contributed to improving the business environment, highlighting Egypt’s position as a regional hub for industry and logistics and a gateway to African and Middle Eastern markets.
Eng. Mohammed El-Gawsaky stressed the importance of digital transformation, pointing to the increase in the number of services provided on the electronic licensing platform from 389 to 440 services, and the work on launching the economic entities platform to cover the entire investor lifecycle, which enhances efficiency, reduces costs and attracts more investments, especially French ones.
Eng. Mohammed El-Gawsaky pointed out that empowering the business community is a priority for the government, through a stable and clear environment and investments that have exceeded USD 550 billion in infrastructure over ten years.
Ambassador Eric Chevallier noted that the meeting with the leadership of the General Authority for Investment and Free Zones confirmed the strength of the economic partnership between the two countries, which was reflected in France’s ranking as the leading European investor in Egypt outside the energy sector.
The French Ambassador praised the Egyptian government’s commitment to plans to improve the business environment, facilitate trade, digitize services, and support companies, especially French companies. He also emphasized the need for continued cooperation between GAFI and Business France, which is responsible for promoting French investments and exports, for the benefit of both countries.
The French Embassy extended an invitation to GAFI to participate in France Business Forum, which will be held this year in Paris and Lyon, and will witness a broad presence of government institutions and French companies, representing a significant opportunity to attract new French investments to the Egyptian market.
