In line with the directives of the Ministry of Investment and Foreign Trade to create an attractive and enabling business environment for both domestic and foreign investment, the General Authority for Investment and Free Zones (GAFI) discusses strengthening investment partnership between Egypt and Hungary
In alignment with the vision of the Ministry of Investment and Foreign Trade to enhance Egypt's external investment promotion efforts, and in implementation of the directives of H.E. Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, to diversify target markets for attracting investments and strengthen economic and investment relations between Egypt and its international partners, Eng. Mohamed El- Gawsaky, GAFI CEO, met with Dr. Rita Viktória Herencsár, Ambassador of Hungary to Cairo, to discuss prospects for joint investment cooperation and review developments in Hungarian investments in the Egyptian market, as well as key strategic projects between the two countries.
Eng. Mohamed El- Gawsaky affirmed that Egyptian–Hungarian relations are witnessing steady progress, reflecting the depth of political and economic ties between the two countries. He noted Egypt's keenness to strengthen partnerships in high value-added industrial and technological sectors.
He added that Hungarian investments in Egypt span several sectors, including tourism, industry, services, agriculture, construction, and information and communications technology (ICT). He emphasized that the coming phase aims to attract more quality investments that contribute to technology transfer to the Egyptian market, deepen local manufacturing, and increase exports to regional and international markets.
El- Gawsaky also highlighted the institutional cooperation between GAFI and its Hungarian counterpart responsible for export promotion, which enhances information exchange and supports the organization of investment missions. He reviewed the significant opportunities available for cooperation between Egypt and Central European countries, particularly in the fields of railways, agriculture, water resource management, water treatment and desalination plants, energy, and related industries. He stressed the importance of leveraging the accumulated expertise of these countries, which possess advanced industrial and technological capabilities aligned with Egypt's development priorities.
For her part, Dr. Rita Viktória Herencsár expressed her appreciation for Egypt's efforts to improve the investment climate, commending the reforms that have enhanced the attractiveness of the Egyptian market. She affirmed the interest of Hungarian companies in expanding their activities and exploring new avenues for cooperation.
The Ambassador added that Hungarian companies show particular interest in investment opportunities in Egypt's renewable energy sector, especially solar energy projects, including electricity transmission systems and grid connection to the national network. She expressed her aspiration to establish effective partnerships with Egyptian entities to implement joint projects in the coming period.
At the conclusion of the meeting, both sides agreed to continue joint coordination, enhance the volume of investments and trade exchange, and encourage the establishment of new industrial partnerships that serve mutual interests and further advance the strategic partnership between Egypt and Hungary.
