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Mr. Yasser Abbas, Deputy CEO of the General Authority for Investment and Free Zones (GAFI), held a meeting with Mr. Tran Quoc Phuong, Vietnam’s Deputy Minister of Finance, and his accompanying delegation to discuss ways to activate mechanisms for enhancing bilateral investment and trade cooperation, and to boost investment flows between Egypt and Vietnam.

During the meeting, both sides reviewed the competitive advantages of their respective investment climates. 

Mr. Abbas stressed the importance of strengthening investment ties between the two countries, especially following the establishment of the first wholly Vietnamese-owned factory in Egypt last year. He noted that this milestone sets the stage for further Vietnamese investment in the Egyptian market, particularly in priority sectors identified in both countries’ development strategies—namely textiles and ready-made garments, home appliances, electric vehicles, and petrochemicals.

Mr. Abbas invited the Vietnamese side to explore Egypt’s investment opportunities on the ground, and to know more about the investment incentives and guarantees available to investors. He highlighted the sweeping reforms Egypt has undertaken across economic, legislative, and infrastructure fronts, which have significantly improved the investment climate and contributed to Egypt being ranked 9th globally in foreign direct investment (FDI) inflows last year.

For his part, Mr. Tran Quoc Phuong praised the Egyptian government’s commitment to creating an attractive investment environment, noting the diversity of investment frameworks—including free zones, investment zones, technological zones, and internal investment frameworks. 

He also commended the wide range of tax and non-tax incentives tailored to meet the actual needs of production operations across various sectors.