Attracting Swiss investments

General Authority for Investment and free Zones (GAFI) CEO Hossam Heiba yesterday with the Swiss Egyptian Business Association (SEBA) to discuss investment opportunities in Egypt.
The government is paying great attention to promote promising investment opportunities in priority sectors and has already taken serious steps towards this end, the GAFI chief said.
“The government has pledged to resolve 80 per cent of investors’ problems by the end of June,” Heiba said.
Heiba then referred presented the Golden License, which has roused great attention.
A special ‘Golden License’ unit has been set up in GAFI for continuous and accurate follow-up for everyone who applied for it manually or electronically, Heiba said, adding that GAFI has already granted the Golden License to 15 companies since December.
The Golden License means that investors are authorised to buy or rent land and operate projects without prior approval from multiple government bodies.
The Industrial DevelopmentAuthority (IDA) is working with GAFI to promote industries to be localised here, Heiba said, noting that studies have been prepared in this regard.
Heiba advised Swiss companies to visit the Egypt investment Map website.
“Egypt has huge investment opportunities in health, education, automotive industry, IT, logistics, real estate and pharmaceuticals.
“These sectors are attractive to Swiss investors,” said SEBA chief Kamal Abdel Malak, adding that 80 Swiss companies are already working in different sectors in Egypt.

During the event, Ambassador Yvonne Baumann stated: “At least 80 Swiss companies operate in the country in many different sectors.”

“During the last years, Switzerland has always been among the top 10 investors in Egypt. The interest of Swiss companies and investors in the Egyptian market has always been high and continues to grow, partly due to policies and initiatives of the Egyptian government to overcome challenges, such as infrastructure development, better health coverage and increasing food security. We also acknowledge the important steps which are being taken to enhance the investment climate and to ensure a level playing field for private investors.” the Ambassador added.