GAFI CEO Discusses Opportunities to Strengthen UAE Investments in Egypt with RAK Chamber of Commerce and Industry

Dr. Mohamed Awad:

• Potential for organizing reciprocal visits to strengthen partnerships between the two business communities.

Aarefa Saleh Al Falahi, Member of the Board of Directors of the Ras Al Khaimah Chamber of Commerce and Industry (RAKCCI):

• Need to strengthen communication between companies and investors from both sides.

As part of the efforts of the Ministry of Investment and Foreign Trade (MIFT), and pursuant to the directives of Dr. Mohamed Farid, Minister of Investment and Foreign Trade (MIFT Minister), to strengthen economic and investment relations between Egypt and the United Arab Emirates (UAE), Dr. Mohamed Awad, CEO of the General Authority for Investment and Free Zones (GAFI), met with Aarefa Saleh Al Falahi, Member of the Board of Directors of the Ras Al Khaimah Chamber of Commerce and Industry (RAKCCI), in the presence of Manal Abdel Tawab, Minister Plenipotentiary and Head of the Egyptian Commercial Service (ECS) office in the UAE.
Dr. Mohamed Awad said that Egypt offers numerous investment potential and opportunities, in addition to the incentives and facilities provided by the State to investors, foremost among them the Golden License, as well as a diverse range of investment systems, creating promising opportunities for UAE companies to expand in the Egyptian market.
He added that the meeting discussed cooperation opportunities in a number of areas, including mining industries, ceramics, building materials, and pharmaceuticals, as well as real estate development, tourism, and infrastructure.
Dr. Awad underscored the importance of exchanging information on available investment opportunities and projects and organizing sector-specific events and workshops to promote Egypt’s investment climate and available incentives. He also highlighted the importance of introducing Egyptian investors and businesspeople to investment opportunities in Ras Al Khaimah. He affirmed GAFI’s commitment to providing companies and investors with the necessary support and facilities and working to address any challenges facing their investments in the Egyptian market.
For her part, Aarefa Saleh Al Falahi underscored the importance of strengthening cooperation between RAKCCI and GAFI in a manner that would open up new opportunities for the business communities in Egypt and Ras Al Khaimah and support greater awareness of the investment opportunities available on both sides.
She added that strengthening communication between companies and investors from both sides would facilitate discussions on potential areas of cooperation and the establishment of partnerships and joint projects that capitalize on the available potential, expertise, and competitive advantages in Egypt and Ras Al Khaimah.
The two sides agreed to continue coordination during the coming period and activate direct communication channels. They also agreed that a delegation from RAKCCI would visit Egypt next month to explore available investment opportunities, gain insight into investment projects, incentives, and facilities, and discuss opportunities for establishing partnerships and joint projects.