Mr. Hossam Heiba, CEO of the General Authority for Investment and Free Zones – GAFI CEO, met with HE Tariq Ali Al Ansari, Ambassador Extraordinary and Plenipotentiary of the State of Qatar to Egypt, to discuss developing a new strategy and work mechanism to increase economic and investment cooperation between the two countries. The meeting touched upon developing cooperation mechanisms and coordination with the authorities concerned with investment in the two countries in order to achieve economic integration. Such integration is expected to be achieved through establishing projects in Egypt or pumping joint investments into the African market and emerging markets, especially following the African Free Trade Area Agreement entry into force and Egypt's participation in the BRICS Plus bloc, which enhances the Egyptian commercial and investment role in Africa and the emerging economies. GAFI CEO assured the continues communication with Qatari companies investing in Egypt, to encourage them to pump new investments and overcome any challenges they may face. In addition, he assured liaison with large Qatari companies interested in investing in Egypt to present the investment opportunities in areas of interest, especially in the sectors of real estate, information technology, entrepreneurship, logistics, and distribution centers. Mr. Hossam Heiba reviewed the prominent developments in the investment climate in Egypt, which includes the new guarantees and investment incentives provided to investors, the streamline procedures in the ownership of land, the expansion made in providing the golden license, and the developments occurred in enhancing governance, transparency and competitive neutrality in the Egyptian market. In addition to the diversity of investment frameworks, the provision of an integrated and competitive package of incentives and facilities for each economic sector, which contributed to achieving a high rate in incorporation of companies. The Qatari ambassador commended the economic reforms and measures taken by Egypt, affirming the confidence of Qatari investors in the Egyptian economy. Ambassador Tariq Ali Al Ansari announced coordination with representatives of the Egyptian government to establish the Egyptian-Qatari Economic Investment Forum on a regular basis, after the success witnessed in 2023. It is worth noting that Cairo hosted the Egyptian-Qatari Economic Investment Forum last November, where a number of agreements and memorandums of understanding between Egyptian companies and Qatari counterparts in the fields of real estate, food industries, and automobiles were signed.
