Hong Kong eyes Egypt as investment gateway to Africa, Middle East – GAFI

Hong Kong’s government sees Egypt as a vital investment gateway to Africa and the Middle East, CEO of the General Authority for Investment and Free Zones (GAFI) Hossam Heiba on Monday. The Chinese and Hong Kong firms are leading the investment influx to Egypt from East Asia.

These remarks follow Heiba’s meeting a with a high-level economic delegation headed by Nick Chan, Hong Kong Deputy to the National People’s Congress of China and Herman Tse, Head of Business and Professional Services at InvestHK. The delegation, included representatives from various Hong Kong government and private sector institutions, discuss investment opportunities in Egypt.

During the meeting, GAFI CEO highlighted the Golden License, a streamlined permit process that has facilitated investments from several Chinese companies.

The Egyptian government aims to position Egypt as a primary manufacturing hub for Chinese brands in the region. To attract more export-oriented investments, Heiba said the government had announced tax incentives and is working to align fiscal, monetary, and investment policies.

The Hong Kong delegation expressed keen interest in investing in various sectors of the Egyptian economy, including infrastructure, artificial intelligence, and renewable energy.

Attribution: The Egyptian Cabinet statement

Subediting: Y.Yasser