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25 Nov 2023

GAFI CEO discusses opportunities to increase Bahraini Investments in Egypt The volume of Bahraini Investments in Egypt is $3.2 billion

​ Mr. Hossam Heiba, Chief Executive Officer of the General Authority for Investment and Free Zones (GAFI CEO), met with a Bahraini delegation headed by Shaikh Salman bin Khalifa Al Khalifa, the Minister of Finance and National Economy of Bahrain, in the presence of Dr. Mohamed Maait, the Minister of Finance, to discuss opportunities to increase Bahraini investments in Egypt and deepen the Egyptian-Bahraini investment partnership.

 Such meeting was on the sidelines of the Egyptian-Bahraini Governmental Committee for Commercial, Economic, Scientific and Technological Cooperation headed by Dr. Mohamed Maait, the Minister of Finance.

 The Bahraini delegation included Mr. Hamad bin Faisal Al Malki, Director-General of the Prime Minister's Office and Cabinet Secretary-General, Ms. Noor bint Ali Alkhulaif, the Minister of Sustainable Development, Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, and Ambassador Fawzia bint Abdulla Zainal, Ambassador of the Kingdom of Bahrain to the Arab Republic of Egypt. 

In addition, the delegation included Mr. Sameer Abdulla Nass, Chairman at Bahrain Chamber of Commerce and Industry, Mr. Khalid Ebrahim Humaidan, Chief Executive Officer of the Bahrain Economic Development Board, and Shaikh Abdulla bin Khalifa Al Khalifa, Chief Executive Officer of Mumtalakat Holding Company. 

Mr. Hossam Heiba stressed the depth of the economic and political relations between the two countries, and GAFI’s keenness to contribute to developing such relations to a level that achieves the aspirations of the two brotherly peoples.

 GAFI CEO reviewed the most important developments in the investment environment, and the decrees of the Supreme Council for Investment under the Chairmanship of President Abdel Fattah El-Sisi. Mr. Heiba also reviewed the positive indicators of the Egyptian economy, the most important of which is that the net flow of foreign investment exceeded $10 billion for the first time since the global financial crisis.

 The two sides discussed establishing an Egyptian-Bahraini business forum, to discuss the possibility of establishing joint ventures, and increasing the volume of Bahraini investments in Egypt, which amounted to $3.2 billion distributed among 216 projects, thus the Bahraini investments ranks the 16th in the list of countries investing in the Egyptian market. Eventually, the two sides also discussed a number of proposed agreements, memorandums of understanding and cooperation protocols to enhance investment movement between the two sides