GAFI, Hong Kong Delegation Explore Investment Opportunities In Egypt

(MENAFN- Daily News Egypt) Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), met with a high-level economic delegation from Hong Kong, led by Nick Chan, Hong Kong Deputy to the National People's Congress of China, and Herman Tse, Head of Commercial and Professional Services at Invest Hong Kong (Invest HK). The delegation included representatives from various public and private economic institutions in Hong Kong. The meeting, aimed at discussing investment opportunities in Egypt, was also attended by Noha Khalil, Acting Executive Director of Egypt's Sovereign Fund, Mostafa Moharram, CEO of Moharram & Partners, and representatives from several Egyptian public and private sector entities interested in investment collaboration with Hong Kong.

Heiba emphasized that investment dialogue with China and Hong Kong has always been productive, as Hong Kong views Egypt as a gateway to investment in Africa and the Middle East. As a result, companies from China and Hong Kong are among the top sources of investment flows from East Asia into Egypt.

The CEO outlined the latest developments in Egypt's investment environment, highlighting the“Golden License,” which consolidates all necessary permits for companies to establish, construct, and operate in Egypt. Several Chinese companies have already benefited from this license, launching operations and distributing their products in the local and international markets.

Heiba reiterated that the Egyptian government aims to position Egyptian factories as the primary producers of Chinese brands across Africa and the Middle East. He also informed the Hong Kong delegation that the government recently announced a package of tax incentives to encourage investment, emphasizing the coordination of fiscal, monetary, and investment policies in the coming years to achieve the goal of attracting investment for export purposes.

Nick Chan, Hong Kong Deputy to the Chinese National People's Congress, noted that the Chinese business community is keen to invest in various Egyptian sectors, from infrastructure to artificial intelligence and renewable energy. He highlighted that commercial and investment cooperation is the best way for global recovery from pandemics and natural or political crises.

Herman Tse, Head of Commercial and Professional Services at Invest Hong Kong, stated that Hong Kong has significant capabilities for global investment distribution, hosting over 9,000 international companies with branches outside Hong Kong. As Asia's leading wealth management centre, Hong Kong has established 34 overseas investment offices, including one in Cairo, reflecting its keen interest in investing in Egypt.

Noha Khalil discussed potential investment partnerships between Egypt's Sovereign Fund and Invest Hong Kong, focusing on sectors such as real estate asset management, infrastructure, healthcare, IT, agriculture, and renewable energy. She emphasized that the investment and development goals of both governments align, paving the way for greater cooperation.

Mostafa Moharram, CEO of Moharram & Partners, proposed coordinating efforts between the two countries to link the Belt and Road Initiative with the Cairo-Cape Town Corridor, as both aim to enhance trade and investment flows from East Asia to Southern Africa.

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