Hossam Heiba, the CEO of the General Authority for Investment and Free Zones (GAFI), said the Egyptian economy witnessed the establishment of 32,447 companies in the 2022-2023 FY against 30,961 firms in the 2021-2022 FY, thus proving that the Egyptian economy is attractive despite international challenges.
He made the remarks during the Egyptian-Qatari investment forum with the participation of Trade Minister Ahmed Samir and his Qatari counterpart Sheikh Mohammed bin Hamad bin Qassim Al Abdullah Al Thani.
Heiba said the Egyptian economy witnessed a leap over the past nine years in the infrastructure and legislative domains.
This has incentivized 1,555 companies to inject additional financing in the past fiscal year for expansion.
The net foreign investment flow overcame dlrs 10 billion for the first time since the outbreak of the international financial crisis.
He noted that investors can stand on available investment opportunities via the Egypt Investment Map, adding that the golden license platform will be launched within days.
Meanwhile, Qatari Commerce Minister Sheikh Mohammed bin Hamad bin Qassim Al Abdullah Al Thani said Egypt is the best investment destination for Qatar in light of the strength of bilateral ties and attractiveness of the Egyptian investment climate.
He noted that the Qatari investments in Egypt hit dlrs 5.5 billion.
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