Pursuant to the directives of Dr. Mohamed Farid, Minister of Investment and Foreign Trade (MIFT Minister), to deepen investment cooperation, Dr. Mohamed Awad, CEO of the General Authority for Investment and Free Zones (GAFI CEO), met with a delegation from the Oman Chamber of Commerce and Industry (OCCI) , North Al Batinah Governorate branch, in the presence of senior representatives of key government and private-sector institutions in the Sultanate of Oman, to discuss investment cooperation opportunities between the two countries.
Dr. Mohamed Awad emphasized the need to deepen investment cooperation between the two countries in line with their political and people-to-people ties and longstanding historical relations, highlighting the importance of maximizing the benefits of both countries’ membership in the Greater Arab Free Trade Area (GAFTA).
Dr. Mohamed Awad reviewed the diverse investment regimes offered by GAFI, foremost among them free zones, investment zones, and domestic investment companies, which cater to the diverse needs of investors. He noted that Egypt’s position as the leading African destination for foreign direct investment (FDI) for six consecutive years is by no means a coincidence, but rather the result of a robust economic reform program and substantial investment in infrastructure development, in addition to Egypt’s key advantages, including its unique strategic location, large and diversified market, flexible investment regimes, and broad access to international markets. The GAFI CEO also gave a presentation on the latest developments in Egypt’s investment climate, particularly with regard to digital transformation and the simplification of investment procedures.
For his part, Eng. Saeed bin Ali Al Abri, Chairman of the Board of Directors of OCCI, North Al Batinah Governorate branch, affirmed that the strategic geographical locations of the two countries provide them with a significant competitive advantage in participating in global value chains. He added that the Sultanate of Oman maintains strong relations and trade agreements with East Asian countries, while Egypt enjoys strong relations with countries across the African continent, opening new avenues for Egyptian Omani investment partnerships.
