Business Hub _ Cairo
He met with Counselor Mohamed Abdel Wahab, CEO of the General Authority for Investment and Free Zones, ambassadors of 24 countries, to discuss investment cooperation, He presented the Egyptian government’s plan to improve the investment environment in the next stage, and its measures to provide a suitable environment to receive more new foreign investments.
The meeting was attended by Ambassador Ayman Kamel, Assistant Secretary of State for Asian Affairs, and ambassadors of countries: Japan, China, Vietnam, Bangladesh, Sri Lanka, Singapore, Indonesia, Pakistan, South Korea, North Korea, Thailand, Brunei, Mongolia, Malaysia, Myanmar, Nepal, Kazakhstan, Tajikistan and Uzbekistan, India, the Philippines and Cambodia, in addition to the ambassadors of Australia and New Zealand.
Abdel-Wahab stressed the importance of this meeting. Twenty-four countries account for a large share of global output, investment and trade flows around the world. There are also great prospects for investment cooperation between Egypt and those countries.
The CEO of the General Investment Authority reviewed the most important decisions issued by Dr. Mostafa Madbouly, Prime Minister, which would provide incentives and support for investment activities related to the green economy, intelligence, support for creativity, scientific research projects, and localization of industry, Reducing the time required for obtaining approvals, licenses or permits necessary for investment projects, A decision is made within 20 working days. As well as defining some areas of strategic projects and the procedures for obtaining a single approval for the establishment of the project, Stressing the keenness of the authority and the various national authorities in the country to improve the business environment in Egypt, Solve the challenges that the investor may face during the exercise of his investment activity.
The Chairman of the Investment Authority also gave a presentation on the investment climate in Egypt, The available investment opportunities, especially in major national projects, Opportunities to enhance joint cooperation during the coming period were also discussed, as it was agreed to form a working group between the Ministry of Foreign Affairs, the Investment Authority and representatives of the countries participating in the meeting to facilitate and speed communication with the targeted companies in those countries. and exchanging information on the developments of the investment climate in Egypt on a regular basis, As well as receiving delegations of businessmen interested in exploring investment opportunities.
The ambassadors were also briefed on the updated version of Egypt’s investment map, Which includes more than 2500 investment opportunities, and a number of sectoral studies, Indicative feasibility studies, Which allows the investor to apply for investment opportunities and proposals, and to follow up on the stages of studying the submitted applications. Paying the financial dues, holding the lottery, and announcing the results electronically. This is within the framework of the Authority’s plan to keep pace with the state’s plan for digital transformation.
The CEO of the Authority accompanied the ambassadors on a tour of the Investor Services Center, Which includes authorized representatives of more than 65 governmental and non-governmental entities associated with providing services for investment activities.