Cairo: The General Authority for Investment and Free Zones (GAFI) recently hosted a series of meetings in collaboration with the World Bank, the Ministry of Planning, Economic Development, and International Cooperation. The meetings are part of efforts to develop a national strategy for foreign direct investment in Egypt for the period 2025-2030. Key attendees included senior World Bank experts such as Mr. Mark Ahern, Chief Economist at the World Bank’s country office in Egypt, Mr. Tom Vis, Head of the World Bank team specialising in private sector development, and Mr. Harald Giedelika, an expert in investment climate improvement mechanisms, alongside private sector representatives and relevant government entities.
According to State Information Service Egypt, Mr. Hossam Heiba, CEO of GAFI, confirmed that the strategy preparation aligns with presidential directives and Supreme Investment Council decisions, leveraging the World Bank’s expertise to draft a participatory vision for investment in Egypt. The stra
tegy is based on a comprehensive analysis of investment opportunities and challenges, focusing on achieving effective partnerships between the government and investors to drive economic development.
The strategy will rely on the World Bank’s methodology for sector surveys, categorizing targeted investment sectors into promotable and ambitious sectors. Promotable sectors are those that offer economic and developmental benefits to the state, contribute to job creation, and increase exports. These sectors provide high returns due to their competitive advantages such as large market size, low production costs, suitable infrastructure, and supportive legislation. Ambitious sectors are those that require reforms to enhance their competitiveness and attractiveness for investments.
Dr. Dalia El-Hawary, Deputy CEO of GAFI, explained that the strategy preparation has involved several phases, starting with analyzing foreign investment flows and assessing the investment climate in Egypt. The process moved to consultati
ons with stakeholders from government and private sectors to ensure the strategy aligns with the needs and aspirations of all parties involved.
El-Hawary added that the strategy’s formulation and detailed action plans are expected to be completed in the coming months, with implementation planned for 2025-2030. The effectiveness of the strategy will be monitored using specific measurement indicators to ensure objectives are achieved efficiently. The strategy is structured around key axes, including creating cluster links with complementary industries, improving the business climate, and promoting investment in strategic sectors to support sustainable development and enhance economic growth.