The CEO of the General Authority for Investment and Free Zones (GAFI) Hossam Heiba and Acting Director-General of Investment Promotion at InvestHK Jimmy Chiang co-signed a Memorandum of Understanding (MOU) at InvestHK Head Office, pledging mutual cooperation on investment promotion exchanges and support.
The memorandum is aiming to enhance the close relationship for the mutual benefit of Hong Kong and Egypt and their cooperation with each other in promoting both inward and outward investments in the two places.
The MOU focuses on sharing information on the business environment, investment opportunities of the two places and technical experiences in the field of attracting foreign investments as well as encouraging interested local companies in setting up or expanding their businesses within the area of the other jurisdiction.
It also supports and facilitates each other’s incoming business missions and investment promotion events that foster bilateral investment between the two places.
Chiang said “The MOU marks a new milestone between Hong Kong and Egypt in terms of mutual investment promotion exchanges. As a strategic international hub of the Guangdong-Hong Kong-Macao Greater Bay Area and the Belt and Road Initiative, Hong Kong offers an efficient, reliable business platform bringing the Mainland and the rest of the world together.”
“By leveraging Hong Kong’s global status, companies from Egypt and those from the Mainland can strengthen their business foothold in each other’s jurisdictions, tapping into the growing business opportunities on the Mainland and across the Asia-Pacific region,” he added.
Heiba said “The GAFI has signed an MOU with its counterpart InvestHK to encourage bilateral economic cooperation between Egypt and Hong Kong and to encourage bilateral investments from both sides, and work on enhancing mutual visits for business delegations to explore the investment opportunities in Egypt and Hong Kong. The two parties are looking forward to further cooperation between Egypt and Hong Kong. “
