GAFI
This will boost the company's investments by US$200 million annually.
The visit comes within a framework of the State's investment in setting up more development projects in Upper Egypt.
They also reviewed a number of vital projects including establishing the largest factory for manufacturing optical fiber cables in Egypt, Africa and the Arab world, with investments exceeding LE 1 billion at the Suez Canal Economic Zone.
During the meeting, Kaabi lauded the strong relations between both sides, highlighting the important role of the GAFI in facilitating the work of the UAE businessmen.
Abdel Wahab continues his visits to different governorates to discuss development plans and investment opportunities there.
The Japanese side lauded the GAFI's role in providing all facilitation for Japanese companies working in the country, in addition to its efforts to attract more Japanese investments.
During the meeting, the two sides discussed an Amazon's proposal to develop transport services, through using private cars to transfer light cargo.
CEO Mohamed Abdel Wahab stressed the importance of measures taken by the government to improve the investment climate.
The company's future strategies were shown to include pumping new investments in the Egyptian market exceeding LE 920 million in the coming five years with 14 new production lines covering the local demand and exporting purposes.
Abdel Wahab was reviewing a report with Prime Minister Mostafa Madbouli, saying that 1,672 companies had been established in June compared to 1,449 companies in the same period in 2019.
The surge in the number of firms led to a 71.7 increase in the capital of exports of these companies in June to record LE 7.9 billion, against LE 4.6 billion in June 2019.
The meeting also tackled putting into effect all measures required to forge ahead with developing and shoring up local production of medical equipment.
The meeting also tackled putting into effect all measures required to forge ahead with developing and shoring up local production of medical equipment.
He added that his company has future and expansion plans, especially with regard to deepening local manufacturing and export.
Samsung will open a new production line to manufacture computer monitors in August. It also plans to pump investments worth $84 million in the coming five years.
The decision was taken by Executive President of the General Authority of Free Zones and Investment (GAFI) Mohamed Abdel Wahab.
Under the new measures, the GAFI projects will be allowed to sell up to 50 percent of their products at the local markets for six months.
The two sides discussed a number of projects, which the Military Production Ministry is currently studying in order to implement them in cooperation with several international companies.
During the meeting, they stressed that quick solutions should be found for any problems facing investors in industrial zones.
This came during the Egyptian-Swiss Investment Forum organized by the General Authority for Investment and Free Zones in cooperation with the Swiss Embassy in Cairo.