Egypt’s FDI net inflows increase 70% in 2 years – GAFI

Egypt NewsNewsTech/AI
By Nada Ali
Egypt
The ancient city of Aswan may be a prime winter destination for its warm temperatures – an average of 25 Celsius during the day – it offers much more than good weather. Photo Credit: Journey To Egypt

Egypt’s foreign direct investment inflows by 70 percent to $7 billion during the past two years, Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), said on Monday.

Heiba made his remarks during the launch of the fourth edition of the Egyptians Abroad Conference on Monday, which held under the auspices of Prime Minister Moustafa Madbouly, and the Ministers of Finance, Immigration, Social Solidarity, Education and Culture.

He added that in terms of investments, the Egyptian laws make no discrimination between Egyptian and foreign investors. “Investment opportunities are equally available for everyone,” he said.

Heiba concluded that a one-year residency is allowed for foreign investors during the establishment of their company in Egypt, and it gets renewed for a period of five years.

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