GAFI and the European Bank for Reconstruction and Development Discuss Activating MoU to Promote Investment and Support Egypt’s Private Sector
Dr. Mohamed Awad:
- Strengthening cooperation in investment promotion and organizing joint events to attract foreign investment.
- Supporting Egyptian companies in aligning with the European Union’s Carbon Border Adjustment Mechanism (CBAM) requirements.
- Growing interest among European companies in investing across various economic sectors, particularly data centers.
In line with the directives of Dr. Mohamed Farid, Minister of Investment and Foreign Trade, to strengthen international partnerships with leading global economic institutions, Dr. Mohamed Awad, GAFI CEO, met with a delegation from the European Bank for Reconstruction and Development (EBRD) to discuss mechanisms for activating the Memorandum of Understanding signed between the two sides at the end of last year and to establish a practical framework for cooperation in implementing a number of initiatives aimed at promoting investment and enhancing private sector competitiveness.
Dr. Awad emphasized that activating the Memorandum of Understanding represents an important step toward leveraging the EBRD’s technical expertise and financing capabilities in support of GAFI’s efforts to improve the investment climate, promote investment opportunities, attract additional foreign direct investment (FDI), and enhance the competitiveness of the Egyptian economy.
The meeting reviewed a number of priority areas for cooperation, including the joint promotion of investment opportunities both within Egypt and internationally, the organization of events targeting investors and strategic sectors, and enhanced collaboration in the development of investment zones. Discussions also covered opportunities to benefit from the Bank’s expertise and financing instruments in supporting infrastructure and service projects within investment zones.
Dr. Awad also highlighted GAFI’s efforts to advance its digital services ecosystem and strengthen corporate data analytics capabilities. He noted that GAFI is utilizing artificial intelligence technologies to analyze data from approximately 415,000 companies established through Investor Service Centers, contributing to the development of a comprehensive information base that supports investment-related decision-making.
For her part, Dr. Reem Al Saadi, Deputy Head of Egypt and the Regional Manager for the Small and Medium-sized Enterprise (SME) Finance and Development program, affirmed that supporting the private sector remains a key priority for the Bank in Egypt. She noted that since commencing operations in the country in 2013, the EBRD has invested more than €14 billion, approximately 80% of which has been directed toward private sector projects, reflecting the Bank’s commitment to supporting economic development efforts and attracting investment.
She added that the Bank looks forward to leveraging the Memorandum of Understanding signed with GAFI and strengthening cooperation in implementing joint initiatives and activities aimed at promoting investment in line with Egypt’s economic development priorities.
The two sides also discussed enhancing cooperation in supporting Egyptian companies, particularly exporters, through the exchange of information on financing institutions, green finance instruments, and sustainability-linked financing mechanisms. Such cooperation would help companies align with the requirements of the European Union’s Carbon Border Adjustment Mechanism (CBAM) and strengthen their access to European markets.
Discussions also addressed opportunities for cooperation in organizing joint investment promotion events on the sidelines of the EBRD Annual Meeting 2027. These efforts would contribute to promoting investment opportunities in Egypt, facilitating business meetings with international investors and companies, and showcasing the economic reforms implemented by the government, thereby supporting efforts to attract greater foreign direct investment.
Dr. Al Saadi further noted that Egypt is witnessing growing interest from European companies seeking investment opportunities across several promising sectors, including tourism, manufacturing, renewable energy, and data centers. She highlighted that Egypt’s strategic location and advancing digital infrastructure position the country to further strengthen its role as a regional hub for data services and the digital economy.
The meeting also explored opportunities for cooperation in capacity building, knowledge exchange, and the provision of technical assistance in priority areas, contributing to the enhancement of the investment environment and the improvement of services provided to investors.
Both sides agreed to maintain close coordination during the coming period to advance areas of mutual interest and develop an implementation roadmap outlining priorities and execution mechanisms. They also agreed to establish a joint working group to oversee the implementation of the agreed initiatives, thereby contributing to the achievement of shared objectives and supporting efforts to attract investment and strengthen the private sector.
