Chief Executive Officer (CEO) of the General Authority for Investment and Free Zones Mohamed Awad has stressed the importance of deepening investment co-operation between Egypt and Oman to keep pace with the strong political and popular ties and longstanding historical relations between the two countries.
Awad made the remarks during a meeting he called on Sunday with a delegation from the Oman Chamber of Commerce and Industry’s North Al Batinah Branch to strengthen investment co-operation between the two countries.
Senior representatives of key Omani government and private-sector institutions were present at the meeting.During the meeting, GAFI CEO Awad highlighted the importance of maximising the benefits of Egypt and Oman’s membership of the Greater Arab Free Trade Area, while reviewing the diverse investment frameworks offered by the authority, including free zones, investment zones and domestic investment companies, which meet the varying needs of investors.
He noted that Egypt’s position as the leading African recipient of foreign direct investment for six consecutive years reflects the outcomes of a comprehensive economic reform programme and substantial investment in infrastructure.
He also highlighted Egypt’s strategic geographical location, large and diverse domestic market, flexible investment legislation and extensive access to international markets.
The GAFI CEO reviewed recent developments in Egypt’s investment climate, particularly efforts to advance digital transformation and simplify investment procedures to facilitate business and attract further investment.
Chairman of the Oman Chamber of Commerce Saeed bin Ali Al-Abri said the strategic locations of Egypt and Oman provide both countries with a significant competitive advantage in participating in global value chains.
Al-Abri noted that Oman’s strong trade relations and agreements with East Asian countries, alongside Egypt’s extensive relations with African nations, create promising opportunities for expanding Egyptian-Omani investment partnerships and opening new avenues for co-operation between the two business communities.
