UNCTAD has awarded Egypt’s General Authority for Investment and Free Zones (GAFI) for its excellence in promoting sustainable investment in agriculture, contributing to food security and development.
UNCTAD’s director of investment and enterprise, James Zhan, presented the awards during the 13th session of the Investment, Enterprise and Development Commission on Monday, November 14, in Geneva.
CEO of the General Authority for Investment and Free Zones (GAFI) Mohamed Abdel Wahab said the Authority’s winning of this award is a tribute to its role towards investors, creating real investment opportunities and facing various investment challenges, in addition to its role as a provider of services for investors during the different stages of implementing investment projects.
He also expressed his appreciation of UNCTAD as the authority’s strategic partner, adding that the award is a certificate of confidence in the Egyptian government’s success in enhancing a sustainable business and investment climate and attracting value-add investments.
Egypt’s General Authority for Investment and Free Zones received the award for facilitating the Canal Sugar Company, a joint venture between investors in the sugar industry from the United Arab Emirates and Egypt.
The project is in line with Egypt’s 2030 sustainable development vision to achieve food security while adapting to climate change using smart agriculture systems.
The project expected to create 50,000 jobs aims to make Egypt self-sufficient in sugar production. It includes a training academy for local farmers to help them increase their yields and minimise the use of water and fertilisers.
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