General Authority for Investment and Free Zones (GAFI) hosts a delegation from Crédit Agricole Group’s Corporate Markets Directors Club (Club DME) to discuss investment opportunities and review the latest developments in Egypt's business environment.
This meeting comes as an implementation of the Memorandum of Understanding (MoU) signed between Crédit Agricole and GAFI last year, which aims to facilitate communication between GAFI and the bank's clients across 46 countries worldwide, introducing them to the most promising investment opportunities in the Egyptian market.
The delegation included Ms. Virginie Grouselle, Head of Corporate Banking at Crédit Agricole France and Head of Club DME delegation, Mr. Jean-Pierre Trinelle, CEO and Managing Director of Crédit Agricole Egypt, along with senior executives of Club DME from various French regions, which holds regular meetings in the world's most attractive investment destinations.
GAFI CEO Mr. Hossam Heiba stated that Egypt has become the logical and natural destination for European investments in Africa following the elevation of bilateral relations to the level of a "comprehensive strategic partnership" and the enforcement of the African Continental Free Trade Agreement (AFCFTA) which enables European goods to access African markets without barriers, along with the diverse investment incentives offered by the Egyptian government. He also highlighted the advantages of the Egyptian market, including its strategic geographic location connecting three continents, the availability of a skilled and trained workforce at competitive costs, its manufacturing capabilities, and easy access to supporting industries.
GAFI CEO added that the key to achieving a surge in European investment in Egypt lies in bridging the information gap about the Egyptian market and enhancing investment promotion efforts. He noted that this is precisely what GAFI's international partners in the banking sector and the business community are doing, most notably Crédit Agricole Egypt.
Mr. Jean-Pierre Trinelle thanked GAFI for this valuable dialogue with the senior executives of Club DME delegation. He affirmed the bank's unwavering commitment to supporting economic growth in Egypt, facilitating trade, and empowering the business community to capitalize on cross-border investment opportunities, particularly given Crédit Agricole’s long-standing presence in Egypt; making it a strategic partner for supporting foreign investment through its extensive experience and global network.
Ms. Virginie Grousselle expressed her pleasure at learning more about the promising investment opportunities in Egypt and Mr. Heiba's insights on the legislative and procedural reforms and investment incentives, which reflect a commitment to fostering a supportive and attractive business environment. She emphasized her keenness to convey such valuable insights to the bank's clients to capitalize on investment opportunities in Egypt.
