Latest news with #GAFI
Zawya
26-05-2025
- Business
- Zawya
Canada's Borna to develop $40mln membrane gas separation factory in Egypt
Arab Finance: Borna Membrane Solutions, a Canadian clean-tech company in membrane gas separation, is planning to establish a factory in Egypt, with total investments of $40 million, the company's CEO Sam Salimi announced. The facility will produce flare gas recovery systems for extraction and exploration, carbon separators, and the reinjection of the resulting gases into the national natural gas grid. During his meeting with Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), Salimi rolled out the company's plans in Egypt. The two sides discussed ways to localize the company's technology in Egypt as part of the government's plan to keep pace with global trends to reduce carbon emissions. Borna has extensive expertise in carbon capture and storage (CCS), and the extraction of propane, butane, and methane from the combustion of associated gases from oil extraction operations, and their reinjection into the Egyptian market. Finally, Salimi emphasized that the Canadian government and financing institutions support companies seeking to inject new investments into the Egyptian market. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Daily News Egypt
25-05-2025
- Business
- Daily News Egypt
Canada's Borna to invest $40m in Egypt for natural gas recovery, carbon capture plant
Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), has met with representatives from Borna, a Canadian company specializing in natural gas separation, processing, and carbon capture technologies. The meeting aimed to explore opportunities for localizing Borna's advanced technologies in Egypt, aligning with the country's broader efforts to reduce carbon emissions and transition toward cleaner energy solutions. Borna's CEO, Sam Salimi, announced the company's plan to invest $40m to establish a facility in Egypt dedicated to recovering flared gas from oil extraction and exploration operations. The proposed plant will focus on separating key gases—such as propane, butane, and methane—from flared emissions, reinjecting them into the national natural gas grid. Additionally, the facility will implement carbon capture and storage technologies, enabling Egyptian partners to participate in the voluntary carbon credit market launched by the government last year. Salimi emphasized that the initiative will offer wide-ranging benefits for Egypt, including lower energy import costs, reduced greenhouse gas emissions, and the creation of new employment opportunities. He also noted strong backing from the Canadian government and financial institutions for companies expanding into high-potential markets like Egypt. GAFI's Heiba underscored the range of incentives available to investors through Egypt's private free zones framework. These include customs and tax exemptions, expedited licensing procedures, competitive land access, and low operational fees. Crucially, Borna would be able to establish operations near oil and gas extraction sites without being confined to designated public investment zones. Heiba highlighted that the clean technologies and equipment to be manufactured at the new facility would support Egypt's compliance with global climate standards, including the European Union's Carbon Border Adjustment Mechanism (CBAM). The CBAM requires exporters to disclose the carbon content of goods entering the EU, favoring low-emission products and giving a competitive edge to exporters using cleaner technologies. The collaboration reflects Egypt's continued push to attract green investments and position itself as a regional hub for sustainable energy solutions.
CairoScene
23-05-2025
- Business
- CairoScene
Over 2,800 Chinese Firms Invest USD 8 Billion in Egypt
New projects and licenses signal deepening Chinese investment in Egypt's automotive, electronics, and renewable energy sectors. May 23, 2025 More than 2,800 Chinese companies have invested over USD 8 billion in Egypt, according to Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI). Key players include tech and manufacturing giants such as Huawei, Haier, Midea, ZTE, and OPPO, with rising confidence reflected in a growing number of new licenses issued to Chinese firms. GAFI is targeting strategic sectors—automotive, electronics, artificial intelligence, textiles, and renewable energy—as part of a national push to position Egypt as a regional hub for manufacturing and technology. Among the major projects underway is a USD 300 million car assembly plant by China's GAC Motor, alongside the launch of the Chinese Textile City in Minya Governorate. Haier, Midea, and Shanfeng are also among the first companies to benefit from Egypt's 'golden license', a fast-track permit aimed at streamlining investment procedures and cutting red tape for strategic projects. Heiba discussed these developments during a meeting with Guangdong Province Governor Wang Weizhong in Cairo. Egypt has also confirmed its participation in two major upcoming events: the China-Africa Investment Forum in July and the Egypt-China Investment Forum in November, both expected to deepen bilateral economic cooperation.
Zawya
22-05-2025
- Business
- Zawya
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. (
Zawya
22-05-2025
- Business
- Zawya
GAFI, Invest Hong Kong discuss vision for Egypt as regional financial, business hub
Egypt - Hossam Heiba, CEO of Egypt's General Authority for Investment and Free Zones (GAFI), met with Alpha Lau, Director-General of Invest Hong Kong, to discuss Hong Kong's experience in developing centralized financial and business districts—a model that has positioned the city as Asia's premier hub for wealth management and investment funds. Heiba highlighted Egypt's ambitions to replicate a similar model through a newly drafted law on central financial and business zones. The legislation is designed to create a supportive environment for financial companies and institutions to manage investments, facilitate global trade, and ultimately position Egypt as a leading investment destination across Africa and the Middle East. 'This isn't just about redirecting capital flows; it's about becoming a magnet for them,' Heiba said. He emphasized that Egypt shares several economic characteristics with China, including a large domestic market and the capacity to absorb substantial investments across a wide range of sectors. Heiba also noted Egypt's human capital advantage, pointing to the many Egyptian economists, bankers, engineers, and entrepreneurs who already lead successful investment funds throughout the region. He outlined the government's focus on priority sectors for high-employment and export-driven investment with strong local content. These include renewable energy, automotive manufacturing, textiles, electronics and home appliances, pharmaceuticals, transport and logistics, healthcare, and education. Alpha Lau described Hong Kong as a 'permanent bridge' between China and the global economy. She cited its business-friendly tax regime, efficient investment procedures, and broad network of free trade agreements as factors that make it an ideal platform for Chinese companies to expand abroad. Lau revealed that there is growing interest among Chinese investors to channel capital into Egypt through Hong Kong-based investment vehicles. Egypt's strategic location and its preferential access to African, Arab, and European markets make it an attractive destination for cross-border expansion. This momentum, she noted, was a key reason behind Invest Hong Kong's decision to open an office in Cairo last year.
