Dr. Mohamed Awad:
We are committed to providing a competitive investment environment that fosters increased foreign investment inflows into the Egyptian market.
Egypt offers strong competitive advantages and promising investment opportunities across a wide range of priority sectors.
Enterprise Singapore:
Singaporean investors with long-term investment strategies prefer stable markets such as Egypt.
There is growing interest in investing in the logistics, renewable energy, and information technology sectors.
In line with the directives of H.E. Dr. Mohamed Farid, the Minister of Investment and Foreign Trade (MIFT Minister), to diversify the country's sources of foreign direct investment and strengthen investment partnerships with promising markets, Dr. Mohamed Awad, CEO of the General Authority for Investment and Free Zones (GAFI CEO), met with a delegation from Enterprise Singapore to discuss avenues for enhancing bilateral investment cooperation, promoting investment opportunities, and fostering partnerships between the Egyptian and Singaporean business communities. The meeting was held as part of MIFT's and GAFI's ongoing efforts to open new investment markets and attract high-quality investments that contribute to technology transfer, industrial localization, export growth, and job creation.
Enterprise Singapore is the Singaporean government agency responsible for supporting the growth of Singaporean enterprises, enhancing their global competitiveness, and reinforcing Singapore's position as a global hub for trade and investment.
Dr. Mohamed Awad reaffirmed GAFI's commitment to providing an attractive and competitive investment environment that attracts more Singaporean investments and strengthens the economic partnership between the two countries, particularly in priority sectors.
He further noted that GAFI offers a comprehensive package of investor services and facilitation measures and works proactively to address challenges facing both new investments and existing expansions, thereby enhancing the competitiveness of Egypt's investment climate.
Moreover, GAFI CEO highlighted the key competitive advantages of the Egyptian economy and the promising investment opportunities across various sectors, which are characterized by strong growth rates and attractive investment returns. He also underscored the availability of a skilled workforce, abundant natural resources, and well-developed infrastructure that support the expansion of new investment projects.
On his part, Mr. Rahul Ghosh, Mr. Rahul Ghosh, Global Markets Director – Middle East & Africa at Enterprise Singapore, noted the growing interest among Singaporean companies and wealth management funds in investing in the Egyptian market, particularly in the logistics, renewable energy, and information technology sectors.
He explained that Singaporean companies prioritize investments in stable markets such as Egypt, as they seek to make long-term strategic investments that generate added value and support sustainable economic growth.
As part of the visit, GAFI organized a field tour for the Singaporean delegation to a number of investment and industrial zones. In addition, GAFI coordinated meetings with representatives of relevant government entities, including the Ministry of Electricity and Renewable Energy, the Ministry of Water Resources and Irrigation, and the Ministry of Environment, to showcase Egypt's investment advantages and the availability of the resources required for the targeted industrial projects.
At the conclusion of the visit, both sides agreed to continue their coordination during the coming period to further examine available investment opportunities and strengthen communication between Egyptian and Singaporean companies, with the aim of translating investment interest into concrete projects on the ground.
