Mohamed Abdel Wahab — CEO of the General Authority for Investment and Free Zones (GAFI) — and Malaysian Minister of Industries Zuraida Qamar Al-Din, along with his accompanying delegation of representatives from various industrial councils discussed ways to enhance investment cooperation between the two countries.
They also studied opportunities to establish new Malaysian investments in Egypt as well as discussed mechanisms for the participation of businessmen from the two countries in joint projects.
Abdel Wahab noted that both sides aspire to see Egypt as a major centre for the manufacture and export of Malaysian palm oil to countries of the region, and to benefit from Egypt’s comparative advantages and free trade agreements with Arab, African, and European countries.
He also spoke of utilising Malaysian knowledge given it expertise in the field of palm oil production and its use in food industries.
Furthermore, Abdel Wahab stressed that GAFI is keen on facilitating and preparing the ground for investors from both countries to launch new investment projects.
The two sides also discussed the opportunities available on Egypt’s investment map that are of interest to the Malaysian side, especially in the fields of wood and furniture, engineering and electronics, chemicals, and telecommunications and IT in order to diversify and increase Malaysian investments in Egypt.
Additionally, Abdel Wahab presented various investment systems in Egypt that meet the needs of Malaysian investors, especially the appropriate investment systems for establishing and hosting export-oriented industries.
He further stressed that the major projects implemented by Egypt during the past years provide many investment opportunities suitable for the aspirations of the Malaysian business community, especially in industries in which Malaysia possesses modern technology and extensive experience.
For her part, Qamar Al-Din stressed the excellence of the opportunities presented through Egypt’s investment map to attract Malaysian investments and the efficiency of investor service centres at GAFI in facilitating companies’ businesses and improving the investment environment, expressing her keenness to activate joint efforts to enhance investment cooperation between the two countries.