Dr. Mohamed Farid Saleh and GAFI CEO Participate in Discussions on Financing Development and Entrepreneurship on the Sidelines of the World Investment Forum 2026

On the sidelines of the World Investment Forum 2026, Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade (MIFT Minister), and Dr. Mohamed Awad, CEO of the General Authority for Investment and Free Zones (GAFI CEO), participated in discussions addressing mechanisms for financing development in developing countries and the role of entrepreneurship and innovation as key drivers of sustainable growth.

During his participation in the session entitled “The Role of the Private Sector in Financing Development in Developing Countries,” Dr. Mohamed Farid Saleh, MIFT Minister, affirmed that Egypt is working in cooperation with the World Bank Group to develop a foreign direct investment (FDI) strategy aimed at directing investment towards priority sectors, maximizing its impact on increasing production and exports, and strengthening linkages between major projects and domestic industries. He explained that attracting long-term investment requires clear and stable economic policies, streamlined procedures, and facilitated investor access to markets, alongside the preparation of bankable development projects and the development of domestic capital markets, thereby strengthening the private sector’s role in financing development in developing countries.

In a related context, Dr. Mohamed Awad, GAFI CEO, participated in meetings with representatives of several international and regional organizations and entities to discuss mechanisms for financing development in developing countries and the role of entrepreneurship and innovation in supporting sustainable growth.

GAFI CEO emphasized that development financing represents one of the most significant challenges facing developing countries amid global economic changes, highlighting the importance of concerted efforts by international institutions and the private sector to provide innovative and sustainable financing solutions that support development plans.

He explained that Egypt has adopted a comprehensive strategy in recent years to empower entrepreneurs and support the innovation ecosystem. This strategy includes establishing specialized investment zones for technology and entrepreneurship, introducing incentive packages and tax exemptions for startups, streamlining company incorporation procedures through the electronic incorporation platform, and making the Golden License available.

He noted that GAFI works to support entrepreneurship and business incubators, particularly in transforming innovative ideas into projects capable of growth, expansion, and exporting.

GAFI CEO stressed that investing in human capital and supporting entrepreneurship are two fundamental pillars for achieving comprehensive and sustainable development in developing countries. He added that Egypt, with its wealth of youthful talent and promising market, possesses the fundamentals needed to become a regional hub for entrepreneurship and innovation.