The General Authority for Free Zones and Investment (GAFI) met with a Qatari business delegation on October 31, 2022, to discuss how to increase Qatari investment inflows.
The delegation was headed by Sheikh Faisal Bin Qassem Al-Thani, while on the Egyptian side, the companies represented included The Arab Contractors, ElSewedi Electric, and Benya among others operating in the sectors of constructions, energy, and tourism.
Chairman of the Banque Misr Mohamed El Etreby, as well as officials of the pertinent government agencies and ministries, also attended the discussions.
GAFI Chairman Mohamed Abdel Wahab recommended Qatari investors to benefit from the incentives offered by the Egyptian government, especially the recently-launched “Golden License,” which is a unified operation permit.
Public infrastructure, fresh and renewable energy, transit and roads, telecommunications, and information technology must all receive investment.
The licence will be given to candidates in three months, according to Abdel Wahab. Additionally, he emphasised that investors would receive a five-year residence, which may be automatically renewed as long as the project is still in progress.
On his part, Sheikh Faisal Bin Qassem Al-Thani stated that Qatari investors are keen on pumping more investments into Egypt, particularly in the sectors of healthcare, education, and hospitality, eying opportunities in Delta and Upper Egypt.
The delegation’s visit is only one of several meetings between the head of GAFI and members of the Qatari business community that have taken place in both Egypt and Qatar.
Qatari investors are invited to apply for a “Golden License” by Egypt’s GAFI.
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