GAFI CEO confers with delegation of FICCI on boosting joint cooperation

CAIRO - 25 July 2022: Chief Executive Officer of the General Authority for Investment and Free Zones (GAFI) Mohamed Abdel Wahab conferred on Monday with a delegation of the Indian the Federation of Indian Chambers of Commerce & Industry (FICCI) on plans for investment expansion and pumping new Indian investments into Egypt.

 

Representatives of major Indian companies operating in Egypt attended the meeting.

 

A statement released by GAFI on Monday said GAFI CEO reviewed with the Indian delegation the available investment opportunities in Egypt.

 

He called on the Indian delegation to inspect available investment potentials on the ground.

 

Abdel Wahab, on his part, asserted that the Egyptian government was deeply interested in luring Indian investments to strategic fields of highly added value such as green hydrogen and ammonia, communication and information technology, engineering industries, weaving and textiles as well as chemicals in view of India's vast expertise in such fields.

 

The GAFI chief also probed expansion plans of some Indian companies in Egypt, topped by TCI Sanmar Chemicals and Flex P Films, which are specialized in the chemicals industry, adding that such companies are successful models for Indian investments in Egypt after their recent industry expansion plans as they are also planning for exporting to various world countries.

 

The Indian delegation praised the reforms introduced by the Egyptian state to enhance the investment climate and highlighted the role of GAFI in easing measures of founding new companies and offering various services through the investors' services centers.