GAFI CEO Meets UAE Ministry of Investment Undersecretary to Discuss Strengthening Cooperation and Attracting More Emirati Investments to Egypt

Dr. Mohamed Awad: 

• We are keen to strengthen the institutional partnership with the UAE Ministry of Investment and provide further facilitation for investors.

Mohamed Abdulrahman Al Hawi:

• Strengthening cooperation between the two countries opens new horizons for investment and joint partnerships.

As part of the efforts of the Ministry of Investment and Foreign Trade, and in line with the directives of Dr. Mohamed Farid, Minister of Investment and Foreign Trade, to strengthen investment relations with the United Arab Emirates and attract more of Emirati investment to the Egyptian market, Dr. Mohamed Awad, CEO of the General Authority for Investment and Free Zones (GAFI CEO), met with Mr. Mohamed Abdulrahman Al Hawi, Undersecretary of the UAE Ministry of Investment, in the presence of Ms. Manal Abdel Tawab, Minister Plenipotentiary and Head of the Commercial Representation Office of the Arab Republic of Egypt in the UAE, to discuss prospects for joint cooperation and ways to support Emirati investments in Egypt.
Dr. Mohamed Awad affirmed GAFI's keenness to strengthen its institutional partnership with the UAE Ministry of Investment, in a manner that contributes to developing cooperation mechanisms, exchanging investment-related information and updates, and facilitating the investment journey of Emirati investors in Egypt. He also highlighted the importance of continued coordination to support existing investments and attract new ones.
He explained that Egypt continues to develop its investment environment and streamline procedures for investors, while offering a range of incentives and facilitation measures for investment projects, including the Golden License. These efforts, he noted, enhance the Egyptian market's ability to attract major projects and high value-added investments.
The meeting also addressed the preparation of a Memorandum of Understanding between the two sides to establish an institutional framework for joint cooperation. The proposed framework would include the exchange of information and expertise, coordination of investment visits and delegations, and enhanced direct communication between the relevant authorities and investors in both countries. The two sides also discussed preparations for an Egyptian-Emirati Business Forum bringing together business leaders and investors from both countries to showcase available opportunities and open new channels for communication and partnerships between their respective business communities.
It was also agreed to invite the Emirati side to visit Egypt at the head of a delegation of business leaders and investors representing sectors of mutual interest. An Egyptian-Emirati Business Forum would be organized on the sidelines of the visit, providing an opportunity to showcase available investment opportunities and explore areas of cooperation and partnership between business representatives from both sides.
The two sides further agreed to organize sector-specific workshops bringing together business leaders and investors from both countries to present investment opportunities to companies and investors interested in joint cooperation. The workshops aim to promote integration between sectors and the business communities of the two countries and open new avenues for partnerships and joint projects.
The meeting also explored a number of priority sectors, particularly renewable energy, technology, packaging, real estate and tourism development, and manufacturing industries. The discussions also covered investment opportunities in national and development projects, as well as the available incentives and facilitation measures. The two sides further discussed ways to support the expansion of Emirati companies already operating in Egypt and address any challenges they may face in coordination with the relevant government authorities.
For his part, Mr. Mohamed Abdulrahman Al Hawi underscored the importance of strengthening investment cooperation between the UAE and Egypt and reaffirmed the UAE side's keenness to continue coordination with GAFI to identify opportunities available in Egypt and support the expansion of Emirati companies in the Egyptian market.
He explained that preparations for the signing of a Memorandum of Understanding and the organization of an Egyptian-Emirati Business Forum represent important steps towards strengthening communication between government entities and the business communities in both countries and opening new avenues for cooperation and investment, particularly in priority sectors, thereby supporting the establishment of further partnerships and joint projects.
The two sides agreed to continue coordination during the coming period to finalize arrangements for the signing of the Memorandum of Understanding, the visit of the Emirati delegation, the Business Forum, and the sector-specific workshops, in a manner that strengthens communication between the business communities and supports increased investment and economic partnerships between Egypt and the UAE.