GAFI CEO highlights latest business reforms via streamlined unified tax system
Cairo – April 23, 2025: Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), shared Egypt's latest steps to reform its business environment by replacing the current patchwork of government-imposed fees on companies with a streamlined, unified tax based on net profits.
Speaking at the recent Egyptian-Kuwaiti Cooperation Council meeting, Heiba noted that the overhaul is part of a broader strategy to cut red tape, enhance transparency, and create a more attractive climate for investors.
The new taxation model is expected to roll out within the next few months as part of a national effort to simplify investment procedures and encourage private sector growth.
The initiative comes amid what Heiba described as a turning point for Egypt's economy, which has recently seen record-breaking foreign direct investment (FDI) inflows totaling $46.1 billion in FY2023/2024.
The meeting was attended by key figures including Public Business Sector Minister Mohamed Shimi, Labor Minister Mohamed Gebran, Egyptian Exchange Chairman Ahmed El-Sheikh, Assistant Foreign Minister for Arab Affairs Ihab Fahmy, and representatives of both sides of the council—Mohamed Jassim Al-Saqr for Kuwait and Dr. Mamdouh El-Araby for Egypt.
Heiba attributed this surge to key structural improvements, including a stabilized exchange rate, improved access to foreign currency, modernized infrastructure, and streamlined investment licensing processes. Digitalization of government services and tax reforms have also played a pivotal role.
The government's economic vision, Egypt Vision 2030, aims to shift the investment balance toward the private sector, targeting a 70 percent private sector contribution to total investment and $145 billion in exports by the end of the decade.
GAFI is pursuing a targeted strategy to attract investments that can drive exports and support sustainable economic development, says the authority head.
Heiba stressed the importance of aligning foreign investment with national priorities and invited businesses to explore Egypt's evolving investment landscape through its interactive investment map, which features a range of project zones including free zones, investment and technology zones, the Suez Canal Economic Zone, and others. He also encouraged eligible companies to apply for Egypt's 'golden license', designed to fast-track strategic projects.
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How can Arabs formulate their project to confront these schemes? Trump and Netanyahu only understand force. The Arab countries need to make clear that they will not stand by and allow their territory to be taken. The Arab countries should have united behind Lebanon and Syria when Israel stole portions of their territory. -Throughout history, Egypt has played pivotal roles in the region. How can it continue to do so despite the surrounding challenges and constant targeting of these roles? Egypt has played historical roles, but it is not clear to me how, in this intertwined and complex internal and external context, Egypt can reaffirm its historical role. -How can the Arab region benefit from the dynamics of major powers and the events of global multipolarity? How can it play a role in its favor in this international competition without having its resources controlled by a single power that has harmed and drained its wealth for decades? As the world becomes more multipolar, and the relative power of the US diminishes, the countries that manage to coordinate into effective blocs will be more powerful than those that do not. The EU demonstrates this. Although many feel that the project of pan-Arabism failed because it was not viable, it also failed because leaders like Nasser threatened the power of the US, which at the time was ascendant. A new version of pan-Arabism for the new geopolitical reality would make the Middle East much stronger than any country on its own. Relatedly, the Middle East should take responsibility for its own security, and not rely on the US. The US has been too successful in playing countries in the Middle East off of each other, a trick that also worked well for the British Empire. Whereas a united Middle East, one that included Turkey and Iran as well as the Arab states, would be formidable. -Gaza is dying of famine, yet the world remains silent. 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The USunder Biden and now Trump continues to support Israel unconditionally with billions of dollars or security assistance and political protection at the UN, as well as leveling sanctions against the ICC and against South Africa which brought the suit to the ICJ. Sadly, the international system remains skewed in favor of the global super power, which can continue to impose its desired outcome (zero accountability for a rogue state) on the rest of the world. -How do you feel about the ongoing genocide in Gaza, which the world has failed to stop for almost 19 months? I cry almost every day, I know many others do as well. I feel completely helpless to stop the genocide, but also try to tell others to continue to post on social media, to call their members of Congress, to talk to their friends and family so that those who are not paying attention are not allowed to slip into full complacency and that the genocide does not become normal. I do not know how human society can come back from witnessing this and being unable to stop it, for over 600 days. -Do you believe your resignation had an impact, or was it ultimately ineffective? I have had people tell me that it made an impact on them, which is a very kind thing for them to say. However, it did not have any impact on actually stopping the slaughter, so in that sense, it was indeed ineffective. -Some believe Zionist money controls the world. How do you respond to such claims? Money controls the world. Some of it is Zionist, but much of it comes from powerful companies that profit from war, especially in the US. The US military budget will top a trillion dollars this year. I am more concerned about the influence of those who profit from death than Zionists, although to be clear, Christian Zionists have inordinate influence in the US. -While some advocate for a two-state solution and others for a one-state model, what is your vision for resolving the Arab-Israeli conflict? I know that many who fought for a two-state solution now feel disillusioned with the concept, and I don't know how anyone could ask Palestinians to live alongside Israelis after this genocide. Although a two-state solution is not perfect, an independent state has long been the goal of many Palestinians, as well as the stated objective of international law, therefore I think that offers the most realistic scenario. -When do you foresee the war ending? Could it escalate further if Israel remains unchecked? In the past, genocidal governments have only been stopped when other countries stepped in to stop them. I think the international community must agree that Israel's behavior has been tolerated for too long, and that they will intervene through the auspices of the UN and UN peace keepers to stop the genocide. Although I know that many countries fear that without US support, this will be difficult, but if the entire world joins together against Israel and the US, they are more powerful. -What is your assessment of the ambitions of Israel's far-right to expand at the expense of Arab lands? The Israeli far-right has grown more and more powerful, as they have faced zero consequences for violence meted out against Palestinians in Gaza and the West Bank. They only understand violence, and must be restrained with force, preferably an international coalition to stop their actions. -How do you view AI-generated videos promoting the destruction of Al-Aqsa Mosque and the building of the Third Temple? Aren't these acts a provocation to the sentiments of people in the Muslim-majority region? They are certainly a provocation. AI-generated images and videos, in general, are not something that human society is ready to handle; I'm not sure that we ever will be. -Are Americans becoming more aware of what's happening in Palestine? What forms of public support for the Palestinian cause have you seen? Yes, I have been amazed to witness the shift in American public opinion, as demonstrated by polls showing that a majority of Americans now have a negative view of Israel and want the US to end military support to Israel. I have observed massive protests in DC, signs posted in people's yards calling for an end to US tax dollars to Israel, and a massive amount of social media engagement on Instagram, TikTok, and X (Twitter). -To what extent are anti-Zionist American Jews playing a role in supporting Palestinian rights? Anti-Zionist American Jews have been crucial in this effort, including people like Lily Greenberg-Call and Harrison Mann, both of whom are American Jews who resigned in protest. Movies like 'Israelism' (2023) have revealed the extent of the hasbara that is prevalent in the American Jewish community. I wish more American Jews would speak up but I have been so impressed by those who have. -How can this public awakening be translated into meaningful pressure on decision-makers? Unfortunately, thus far, members of Congress have largely remained under the thumb of groups like AIPAC and other members of the Israel lobby, which spends huge amounts of money to ensure its preferred policy outcomes. However, given the generational shift in Americans' views on Israel, even among Republicans, I expect US funding for Israel will eventually decline. -How can the region free itself from American energy blackmail? Would cooperation with powers like China and Russia be enough to change the game? In my assessment, the role of the US in the region is more about maintaining military dominance for its own sake than it is about oil. The US has around 750 military bases all over the world, many of these are in places that do not have oil. Even if the oil were to disappear, the US would want to maintain its military control in the Middle East. This is partly due to the US relationship with Israel and partly due to American fears that Russia or China will assert control over the region, although neither has exhibited a similar inclination for regime change or military dominance as the US. So while partnering with Russia and China offers a means for Arab countries to show the US that they have other options, as long as military primacy remains America's overarching objective, America's role in the region is unlikely to change.
