Egypt tops Africa in FDI inflows – GAFI’s CEO

Egypt’s General Authority for Investment and Free Zones (GAFI) CEO Hossam Heiba said Egypt ranked ninth worldwide and first in Africa in 2023/24 for foreign direct investment, with net inflows of $46.1 billion.

This came during his participation in the Egypt–Bahrain Business Forum, hosted by GAFI in Cairo on Tuesday and attended by senior officials from both countries.

Heiba pointed to Egypt’s competitive advantages, including a workforce of over 32 million, a diversified economy, strategic location, competitive tax rates, strong infrastructure, and trade agreements granting access to nearly 3 billion consumers across 70 countries.

He said GAFI’s strategy focuses on tailored incentives and investment systems to support Egypt’s goal of raising exports to $140 billion by 2030, inviting Bahraini investors to explore opportunities either through Egypt’s investment map of 1,200 projects or site visits to free and investment zones.

Chairman of Bahrain Chamber of Commerce and Industry Sameer Abdulla Nass expressed Bahrain’s interest in cooperation, particularly in healthcare, education, digital transformation, and finance, where the kingdom holds strong expertise and competitiveness.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama