Egypt’s General Authority for Investment and Free Zones (GAFI) head Hossam Heiba urged the Sudanese business community to invest in Qena governorate, according to a Cabinet statement on Sunday.
He made these remarks during the Sudanese Business Forum hosted by GAFI on January 26, 2025, attended by high-ranking Sudanese officials and representatives from Sudanese companies operating in Egypt.
Heiba highlighted the competitive advantages of free zones in southern Egypt, particularly the Keft Free Zone in Qena, located 170 km from the export hub of Safaga Port, and the Aswan Free Zone, the statement added.
These zones provide strategic benefits for Sudanese investments, particularly those related to raw materials and intermediate industries. They also offer additional investment incentives as part of Egypt’s priority development areas.
Yahya Al-Wathiq Billah, head of the Commercial Representation Authority, announced plans for incentive programmes to support young Sudanese businessmen in coordination with Egyptian and Sudanese authorities involved in investment.
The attendees discussed enhancing cooperation between the Egyptian government, Sudanese Embassy, and Sudan Chambers of Commerce to assess Sudanese companies’ needs for projects in Egypt.
Sudanese investments in Egypt total $240 million, while Egyptian investments in Sudan reach $1 billion, with bilateral trade amounting to $1.4 billion in 2023, according to Al-Wathiq Billah.
The forum also discussed Egypt’s efforts to improve its investment and trade environment, including port developments, reduced logistics costs, and simplified procedures for small and medium-sized enterprises (SMEs).
Attribution: Amwal Al Ghad English
Subediting: M. S. Salama