CEO of the General Authority for Investment and Free Zones (GAFI) Hossam Heiba said that the government aims at making Cairo international finance center the most important finance center and the basic platform of the risk capital funds in the Middle East and North Africa.
The center will enjoy the same incentives and guarantees of the special free zones as it will include representatives of important investment funds and international bank branches to provide the necessary finance for the projects of the private sector, startups and infrastructure projects in Egypt and the region.
This came during Heiba’s participation in Egypt Venture Capital Summit organized by the Egyptian Private Equity & Venture Capital Association (EPEA), German Agency for International Cooperation (GIZ) and the Dutch Entrepreneurial Development Bank (FMO).
Heiba inked a memorandum of understanding on establishing Cairo international finance center in the New Administrative Capital in March to boost investment flow to and from Egypt via foreign and local financial institutions.
Heiba reviewed the efforts exerted by the government to support entrepreneurship environment in Egypt according to the sustainable development strategy (Egypt Vision 2030) as the government targets boosting the role of entrepreneurs and private sector to achieve the aim of making Egypt among the best 30 countries in the indexes of human and economic development, governance and corruption combating.