GAFI, Hong Kong probe reinforcing central financial, business zones in Egypt
Arab Finance: Hossam Heiba, the CEO of the General Authority for Investment and Free Zones (GAFI), met with Alpha Lau, Director-General at Invest Hong Kong, to discuss regulating central financial and business zones in Egypt, as per a statement.
Heiba stated that Egypt's law draft on central financial zones aims to provide a suitable environment for companies and financial institutions to manage funds and investments, while facilitating global trade.
This step is set to turn Egypt into the main investment hub in Africa and the Middle East, he noted.
GAFI's CEO added that the current status aligns with the Chinese model in terms of the size of the local market and its ability to absorb massive investment flows in diverse sectors.
The Egyptian government seeks to attract labor-intensive investments, mainly relying on local content and primarily directed toward exports across several key economic sectors.
These sectors include renewable energy, the automotive industry, textiles, electronic home appliances, pharmaceuticals, transportation and logistics, health, and education.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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