FILE - General Authority for Investment and Free Zones (GAFI)
CAIRO - 15 September 2022: Head of the General Authority for Free Zones and Investment (GAFI) Mohamed Abdel Wahab said on Thursday the authority seeks to open new scopes for cooperation with the German side to lure more investments in the country and draw on from the German expertise in vital sectors, especially industry and clean energy.
Abdel Wahab made the remarks during a meeting with CEO of Association of German Chambers of Industry and Commerce (DIHK) Martin Wansleben.
The meeting aims at increasing German investments in Egypt in light of the Egyptian government's efforts to provide an investment-magnet atmosphere and the tax privileges the government offers especially to companies operating in the green economy sector.
Abdel Wahab reiterated keenness on taking part in all investment activities taking place inside and outside Germany and holding regular meetings with German companies willing to pump money in Egyptian market.
He said he agreed with Wansleben to form joint working groups to keep in regular contact with German investors to iron out any hurdles facing them.
Wansleben lauded strategic relations between Egypt and Germany in the economic domain, lauding economic reforms carried out by the Egyptian government and measures taken to face consequences of global crises.