Mr. Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), participated in the Africa–Singapore Business Forum (ASPF), the leading platform for trade and investment cooperation between Africa and Asia. The forum, organized biennially by Enterprise Singapore—the government agency responsible for developing the country's business sector—brings together high-level stakeholders from across both continents.
This year's edition welcomed over 700 representatives from governments and business communities across Asia and Africa. The sessions addressed a wide range of issues, including opportunities for African economic integration following the launch of the African Continental Free Trade Area (AfCFTA), the potential of financial technology (FinTech), logistics, smart urban growth in emerging markets, carbon trading, and the expansion of renewable energy adoption.
During his address, Mr. Heiba highlighted the Egyptian government's efforts to stimulate investment inflows, which have positioned Egypt as the 9th largest investment destination worldwide and the top-ranked in Africa, with net inflows of USD 46.1 billion in fiscal year 2023/2024.
He emphasized that enabling both local and foreign private sectors to spearhead growth remains one of the government's top priorities. He also pointed to the extensive measures undertaken to enhance Egypt's investment climate and infrastructure, with particular focus on attracting new investments in infrastructure, real estate, renewable energy, digital transformation, and financial markets.
As part of the visit, Mr. Heiba held a roundtable with the Singaporean business community in cooperation with the Singapore Business Federation (SBF), bringing together 30 leading Singaporean companies with strong interest in Egypt. He also conducted targeted bilateral meetings with companies aligned with Egypt's investment priorities, including:
- Leo Electric, specializing in digital transformation, IoT, AI, and smart infrastructure;
- Capella Hotel Group, a global leader in luxury hospitality;
- The Kuok Group, with diversified operations spanning agribusiness, food processing, shipping, hospitality, logistics, and energy;
- ceEntek, a producer of low-carbon construction materials;
- Meinhardt Group, an international engineering consultancy active in Egypt for over a decade, seeking to collaborate on development projects and attract new Southeast Asian investors.
Mr. Heiba also explored expansion opportunities with Singaporean companies already operating in Egypt, notably the Tolaram Group—active in food products, hygiene goods, infrastructure, and digital services—as well as major firms affiliated with Temasek Holdings, Singapore's sovereign wealth fund.
In addition, he met with officials from Singapore's Ministry of Foreign Affairs to finalize preparations for the upcoming Egypt–Singapore Business Forum, scheduled to be hosted by GAFI on 21 September, in the presence of H.E. Mr. Tharman Shanmugaratnam, President of Singapore, and his accompanying high-level business delegation.
