General Authority for Investment and Free Zones
Representatives of major Indian companies operating in Egypt attended the meeting.
His call came during a meeting on Sunday with a delegation of the Saudi Real Estate National Committee headed by Muhammad Abdullah Al Murshid.
The GAFI head added that the State developed a strategy for strengthening investment in human cadres, which includes providing training and capacity-building programs.
The investment investments include facilitating the procedures for investors to obtain the lands needed to implement their projects, and setting time plans for the implementation of projects.
These agreements will support the infrastructure, logistics and technology sectors; which work to develop the capabilities of the Egyptian economy.
This came during a meeting Abdel Wahab held with Jordanian Minister of Investment Khairy Amr to explore investment chances and exchange viewpoints on the investment climate in the two countries.
In a statement issued by GAFI on Tuesday, Abdel Wahab asserted GAFI’s keenness on supporting and boosting investment cooperation so that the volume of Belgian investments is up to the depth of bilateral ties.
During the meeting, GAFI CEO Mohamed Abdel Wahab said the authority is currently coordinating with all ministries to make a list of the projects that would benefit from the golden license.
Abdel Wahab said five companies increased their capital at a total of 10.6 million dollars, while 12 others increased their investment costs at a total of 111.4 million dollars during the past two months.
Prime Minister Mostafa Madbouli issued Monday a decree renewing the appointment of Counselor Mohamed Abdel-Wahab as CEO of GAFI
Executive Director of the General Authority for Investment and Free Zones (GAFI) Mohamed Abdel Wahab on Thursday met with a number of investors an businessmen, with Chairman of the Customs Authority El Sayed Negm attending.
Abdel Wahab stated in a statement that the investment costs of these new projects amounted to $ 1.1 billion, and the capital of $ 417 million, during the period from January to September.
The meeting focused on success stories of South Korean companies operating in Egypt, especially in the fields of electronics and home appliances.
The GAFI chief also noted that the authority is coordinating with the Bahraini Council for Development to brief the business community in Manama on the latest developments in the Egyptian economy.
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.
CEO Mohamed Abdel Wahab stressed the importance of measures taken by the government to improve the investment climate.
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.
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