Egyptian Prime Minister Moustafa Madbouli stressed that the state would step up its efforts to create an investment-friendly climate to attract international capital and implement major projects in various sectors in a way that would enhance the national economy, boost growth and increase employment rates significantly.
This prime minister’s remarks came during his meeting with the CEO of the General Authority for Investment and Free Zones (GAFI), Mohamed Abdel-Wahab, to follow up on a number of projects being implemented and the authority’s efforts to promote investment opportunities in Egypt.
The CEO of the authority said that his recent visit to Qatar to promote investment opportunities in Egypt saw the start of consultations and coordination with several Qatari investors on a number of projects. He pointed out that there were consultations with an important investment group with the aim of identifying its plans for the Egyptian market during the next stage.
He added that the group expressed its desire to implement new projects in Egypt, including the establishment of a project to grow grains such as corn, soy and wheat, on an area of about 25,000 feddans, as well as the establishment of an integrated farm with a capacity of 50,000 heads of livestock, and a factory for dairy products with a capacity of 300 million liters annually.
This comes in addition to establishing a hospital on an area of 20 acres, in co-operation with an American company and setting up a commercial centre, which would include many international brands, on an area of up to 200 acres.
For his part, Abdel-Wahab reviewed the results of the meeting, which he held with the Mexican ambassador in Cairo in the presence of Adrian Sada, CEO of Vitro, one of the most prominent glass manufacturers in the world and the largest producer in North America, pointing out that the meeting dealt with the company’s new investments in Egypt.
He noted that he reviewed the investment opportunities that are available for the Mexican companies during the coming period as well as investment incentives offered by Egypt to attract foreign investments.
Abdel-Wahab pointed out that it was agreed with the Mexican ambassador to encourage more Mexican companies to direct their investments to Egypt and to increase co-operation with the Mexican side through organising more promotional events in the priority sectors in both countries.
The GAFI CEO also reviewed the project, which the CFC Fertilisers and Chemicals Company aims to implement under the special free zones system. The project targets the establishment of the first industrial complex in the Middle East and Africa for the production of fodder supplements, using the latest German technology.
Abdel-Wahab addressed the results of the meetings of the Egyptian-Japanese Committee for Investment Promotion, which witnessed a presentation of the most important developments in investment cooperation between the two sides, especially the investments and expansions made by Japanese companies operating in Egypt during the past year. He said the meetings discussed investment opportunities in Egypt.
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