Egypt’s share of global FDI increases compared to 2017: GAFI

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Thu, 25 Oct 2018 - 10:18 GMT

FILE - Sahar Nasr

FILE - Sahar Nasr

CAIRO - 25 October 2018: Egypt’s share of global foreign direct investment rose 0.002 percent, compared to 2017, despite the decline on the international level, the General Authority for Investment and Free Zones (GAFI) reviewed during its meeting.

GAFI added that private investments hiked 47 percent, to reach LE 316 billion, compared to LE 213 billion during 2017.

The Board of Directors of the General Authority for Investment and Free Zones (GAFI) held its first meeting under the chairmanship of Minister of Investment and International Cooperation Sahar Nasr, in the presence of Chief Executive Officer of GAFI Mohsen Adel, Executive Vice President of GAFI Ola al-Kobrosi, and members of GAFI Mohamed Aref, Mohamed el-Atraby, Tarek Tawfik and Tarek Shokry.

The minister stressed that Egypt's share of foreign direct investment has increased at the global level despite its decline globally, and came as the first investment destination in Africa, according to international reports, including the report of the United Nations Conference on Trade and Development "UNCTAD".

Foreign investments rises in Egypt by 24% during H1 2018: UNCTAD

CAIRO - 18 October 2018: The United Nations Trade and Development Board (UNCTAD) said that Egypt remains the first destination in Africa during the first half of 2018, as total foreign investment inflows hiked to 24 percent compared to the first half of 2017.




She added that in the upcoming period, the government will work on promoting investments in Egypt and adding investment opportunities in Egypt on the international investment map.

The council discussed its support to Africa 2018 forum which will be held under the auspices of President Abdel Fatah al-Sisi on December 8 and 9. The forum will be organized by the Ministry of Investment and the Regional Investment Agency of the (COMESA) Organization in Sharm El-Sheikh.

The minister affirmed that the presidents of 12 African states have confirmed their participation in the forum so far, adding that the forum will include a day for supporting entrepreneurs in Africa and for supporting and empowering African women.

In July, Egypt’s Prime Minister Mostafa Madbouli issued a decision appointing Mohsen Adel Helmey as chief executive officer (CEO) of the General Authority for Investment and Free Zones (GAFI), for one year.

Madbouli names Mohsen Adel as new CEO of GAFI

CAIRO - 31 July 2018: Egypt's Prime Minister Mostafa Madbouli issued a decision Tuesday appointing Mohsen Adel Helmey as chief executive officer (CEO) of the General Authority for Investment and Free Zones (GAFI), for one year. Mohsen was announced to replace former CEO of GAFI Mona Zobaa.








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