Egyptian CEO of the General Authority for Investment and Free Zones (GAFI) Mohamed Abdel Wahab said Tuesday his organization works to attract more local and foreign investments to Egyptian markets.
In statements on the sidelines of a ceremony to sign 14 investment agreements worth 7.7 billion dollars with Saudi Arabia, Abdel Wahab said Egypt will offer many investment incentives such as facilitating the procedures of enabling the businessmen to get lands necessary for carrying out projects and setting time tables for their implementations.
The agreements cover fields of energy, oil, food industries, information technology and cyber security, he said.
For his part, Saudi Minister of Trade Maged Al Qobeisi said the volume of the Saudi investments in Egypt hit 30 billion dollars.
He added that Egypt under President Abdel Fattah El Sisi is witnessing unprecedented changes towards a better and stronger economy.
The Saudi minister pointed out that the volume of trade exchange between Egypt and the kingdom reached 14 billion dollars while the number of Saudi companies working in Egypt amounted to 6,285 at investments estimated at 30 billion dollars.
